Former Obama Sustainability Chief Says Personal Investing Can Help Combat Climate Change
*By Tracey Cheek*
Ignorance is a major impediment in the effort to reverse climate change, said the former chief sustainability officer for the Obama administration.
“I think lot of it is lack of awareness, these are topics that a lot of energy nerds like myself have been thinking of for a long time," Christine Harada, the president of i(x) investments told Cheddar on Wednesday.
"But I hypothesize that many of your viewers, when they go to Home Depot ($HD), they don’t think about what is the most green light bulb, unless you actually see the labels that are physically there helping to educate the consumers about that.”
Last week's climate report from the Trump administration cast an ominous shadow ーand according to Harada, if the U.S. fails to initiate change, economic sectors across the board will get hit.
“If we stay status quo I think we’ll be hit mostly from infrastructure ー a lot of cities along the coastline," she said. “I think you're also going to see a lot of shortages with respect to water, with wildfires we’re facing in California ー a lot of forest management-type activities on the front lines as well.”
But millennials tend to lead with their values when they buy.
"They are much more savvy and aware," Harada said, "much more attuned to how we think about the environment and climate and energy, etc."
Younger investors are increasingly interested in environmentally-conscious investing. [A report by TD Ameritrade](https://www.amtd.com/newsroom/press-releases/press-release-details/2018/TD-Ameritrade-Launches-Socially-Aware-Portfolios-Expanding-Access-to-ESG-Investing/default.aspx) revealed that about 60 percent of millennials think making socially-responsible investments is important ー compared to 36 percent of baby boomers.
For millennials and others who want to invest in social good, Harada urges them to "think about investing in the more 'un-sexy' industries ー concrete, infrastructure, transportation, things of that nature."
"Those are the long-lasting investments that really make a big difference on the environment and how we think about extracting greenhouse gases from the atmosphere."
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
