George Hay is an associate editor in Breakingviews’ London office, covering commodities, the Middle East and general financial policy issues. Prior to that he was Breakingviews’ European Financial Editor, and also worked as a correspondent for AFX News and United Business Media. He has an undergraduate degree from Edinburgh University, a Graduate Diploma in Economics from Birkbeck, University of London, and his work has been recognised at the UK’s Business Journalist of the Year Awards.
The Democratic nominee will rejoin the Paris agreement on emissions cuts if he wins the U.S. election. That’s good, but largely symbolic. More important are a pledge to hike clean energy spending and the scope for his administration to advance green financing and carbon pricing.
The $54 bln oil major’s shares have sunk further than peers in recent months. Boss Bernard Looney won’t mind if his renewable energy shift leads oil bulls to prefer Exxon Mobil. He might get more bothered if investors find rival Total’s green transition more compelling.
Bjorn Lomborg wants the world to understand the risks of doing too much on climate change as well as too little. The green firmament should not be immune to constructive criticism. But the Danish academic’s arguments are not convincing enough to warrant societal complacency.