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With No Climate Bill in Sight, Investors Turn to China

It turns out that an economy-wide cap on carbon emissions really is necessary to spur investment in what President Obama likes to call the clean energy

Jul 31, 2020
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It turns out that an economy-wide cap on carbon emissions really is necessary to spur investment in what President Obama likes to call the “clean energy economy.” At least for Deutsche Bank.
Politico pointed today to an Aug. 11 Reuters story that says Deutsche Bank will funnel the $6 billion to $7 billion in investment money it puts aside for climate change not to the United States, but to Western Europe and, wait for it, China.
According to Reuters:
Amid so much political uncertainty in the United States, Parker said Deutsche Bank will focus its “green” investment dollars more and more on opportunities in China and Western Europe, where it sees governments providing a more positive environment.
“They’re asleep at the wheel on climate change, asleep at the wheel on job growth, asleep at the wheel on this industrial revolution taking place in the energy industry,” [Deutsche Bank's Kevin] Parker said of Washington’s inability to seal a climate-change program and other alternative energy incentives into place.
It’s the nightmare scenario for the renewable energy industry, which has been howling in recent months over a lack of investment in renewable energy technology. And it appears to play right into Democrats’ talking points. A failure to act on climate change legislation is in fact driving investment to other countries, including China, which announced last monththat it would begin capping its greenhouse gas emissions.
Dexter Cooke

Dexter Cooke

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Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide. He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina. Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations. As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all. Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
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