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Wall Street Is More Than Willing to Fund the Green New Deal

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Wall Street Is More Than Willing to Fund the Green New Deal

Investing in the environment is already a $12 trillion market. Now markets are just looking for guidance from Congress.

Bloomberg Businessweek ,

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Wall Street sees profit in battling climate change. But political discord is getting in the way. 

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Editorial Rating

9

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  • Innovative
  • Hot Topic
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Recommendation

In the face of an environmental time bomb ticking away, US Congressional upstarts introduced a Green New Deal in early 2019. But the proposal’s backers have overlooked the role that Wall Street could play, acccording to financial journalists Katia Dmitrieva and Emily Chasan. And contentious political divisiveness is preventing serious debate that could lead to a workable, coordinated implementation. This insightful article presents investors, officials and the general public with a compelling case for a public-private partnership that could achieve the plan’s ambitious goals.

Summary

On February 7, 2019, US Representative Alexandria Ocasio-Cortez and Senator Ed Markey, both Democrats, introduced a resolution called the Green New Deal (GND) to fast-track a transition to clean power, a new nationwide energy grid and more energy-efficient buildings, among other measures. But Republicans, as well as many Democrats, greeted the initiative with reactions ranging from pointed rejection to notable indifference. The main objection is cost.

Ocasio-Cortez refuses to accept corporate money and so she and Markey...

About the Authors

Katia Dmitrieva and Emily Chasan are financial journalists with Bloomberg BusinessWeek.

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