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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, March 1, 2016

Delhi's air pollution worse than Beijing's

This chart from IEEFA shows just how bad air pollution is in Beijing and New Delhi.  China is serious about reducing air pollution: it's racing to replace coal power plants with wind and solar, and heavily promotes electric cars.

India not so much.  But switching electricity generation to renewables is a no-brainer, since they are now cheaper than coal.  Even India is doing it.  

That still leaves diesel lorries and buses.  But EV sales are exploding: the total number of EVs globally doubled last year to 1.3 million.  Annual sales rose 68%.  To reduce air pollution, we mustn't just go renewable in power generation, but also switch to electric cars, lorries and buses.  And the way battery costs are falling, that too will soon be a no-brainer.  But we need to move more rapidly to de-carbonised economies, and that means, for now, subsidies for EVs, funded by rising taxes on petrol and diesel. 

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