BlackRock was on the right climate track
The May 21 Business article Anti-woke attacks cool BlackRock climate efforts noted the governments lack of a coherent transition plan to net-zero emissions. This is extremely challenging yet vital. Government, however, is likely incapable of producing the plan on its own. Technology is evolving rapidly, and its effects on our lives and businesses will be enormous. Interest groups are influencing public thinking for their own benefit. There are international ramifications even for just the United States achieving net zero. And there are limitations on how rapidly industries and society can change. The need remains. The climate doesnt wait. The trend toward worsening climate-related disasters, as seen for the past few decades, will continue. Perhaps the government needs a forum of universities, businesses and nongovernmental organizations to develop a realistic, comprehensive transition plan for the government to adopt. Cover everything: research needed, timelines to bring technology to commercial use, government actions needed, funding, employment changes, availability of resources, how energy needs will be met during transition, foreign policy changes, etc. Then see what a realistic timeline is and what that means for our nation as well as consequences if we fail. BlackRocks embrace of net zero was superb, but, as the article pointed out, businesses need government to lead. Edward Diener , Vienna