Ignoring Trump, stock market believes in climate crisis

By Mark Gongloff / Bloomberg Opinion

There’s an old climate joke that goes, “You may not believe in climate change, but your insurance company does.” If you’re in the market for new environmental humor — and really, who isn’t? — you can now update this to say, “You may not believe in climate change, but the stock market does.”

For much of this year, the S&P Global Clean Energy Index has outpaced the S&P 500 Index, the Nasdaq 100 Index and the MSCI World Index, Bloomberg News noted recently as part of a report about Jefferies analysts unexpectedly declaring these the “glory days” for green tech.

Anyone who’s been following the news would be forgiven for assuming these are not salad days for clean energy. Dog-food days, more like it. Whatever-this-is days. The White House and an eager Congress have shredded environmental regulations and cleantech subsidies, thrown up roadblocks to new wind and solar projects and generally tried to make life as comfortable as possible for the fossil-fuel industry currently running the government and as uncomfortable as possible for that industry’s upstart rivals.

And yet! Those same clean-energy sources that have been banished to America’s political wilderness are also in hot demand at home and around the world, thanks in part to President Donald Trump’s determination to put energy-hungry AI everywhere all at once.

https://www.heraldnet.com/opinion/comment-ignoring-trump-stock-market-believes-in-climate-crisis/