Climate Changed
Climate Challenge Will Be Harder Than It Seems, JPMorgan Executive Warns
- Cutting carbon emissions could mean higher taxes, sacrifices
- Green New Deal’s 2030 goal not ‘in the realm of the possible’
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The world isn’t cutting carbon emissions anywhere near quickly enough, a senior executive at J.P. Morgan Asset Management told clients this week -- and changing that will require far harder choices than most people realize.
In his annual “Energy Outlook” report, Michael Cembalest, chairman of market investment and strategy for the asset management group, wrote that the U.S. needs to reduce its use of carbon much faster -- a view he shares with the authors of the Green New Deal, including first-term Democratic Representative Alexandria Ocasio-Cortez of New York.