Source: Fortune
Summary
US CEOs, including Bank of America’s Brian Moynihan, State Street’s Ron O’Hanley, and EY’s Janet Truncale, gathered at Hampton Court Palace to promote private sector efforts to drive the energy transition and climate sustainability, as part of King Charles III’s Sustainable Markets Initiative. Despite the US administration’s shift on climate sustainability, the private sector is committed to driving change, with Moynihan stating that “the private sector is critical to this” and Truncale adding that sustainability is core to resilience, value protection, and growth.
Our Reading
The numbers tell one story. Bank of America, State Street, and EY are putting their money where their mouth is, with a $100 million investment in solving the tradespeople shortage. Meanwhile, the US administration’s climate sustainability policies are causing confusion in the market, but the private sector is driving forward regardless. The cost of solar and wind energy is driving down costs, making renewables a more attractive option. As Ron O’Hanley said, “the fact that we haven’t had policy certainty really doesn’t matter.” The energy transition is happening, with or without the US administration’s support.
It’s business as usual, but with a green twist.
Author: Evan Null
