Disclaimer

Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. But I can't by law give you advice, and I do make mistakes. Remember: the unexpected sometimes happens. Oddly enough, the expected does too, but all too often it takes longer than you thought it would, or on the other hand happens more quickly than you expected. The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.

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Tuesday, December 16, 2014

Why China is serious about de-coaling

This article from the Guardian makes it abundantly clear why China wants to move to renewables.  It's not just that China is now the major source of CO2 emissions, which they know (they have no demented right-wing press to gainsay them, like we have in the West) will cause immense problems for China (drought, flood, rising seas levels: Shanghai is an average of just 4 metres above sea level) but also the air is filthy.  The Chinese authorities mean business.  Of course, the other huge advantage of renewables is that it provides energy security.  Most of the top 10 solar panel and wind  turbine manufacturers are Chinese.

Their plans to switch to renewables are real.  And our excuse to do nothing about CO2 emissions  ("Well, China's not doing anything, and they emit much more than we do") are now hollow.  Coal is finished.

A Chinese man wears an anti-pollution mask near the China Central Television building in Beijing.

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