“Trump cannot put the green genie back into the bottle,” says Colin le Duc, head of research at Generation Investment Management, the $16bn US sustainable investment specialist. But Mr Trump’s rejection of the Paris accord has introduced fresh uncertainty into US energy and environment policies for investors that are already struggling to assess how best to adapt to climate change risks. BlackRock, the world’s largest asset manager, warned last year that investors and governments have been slow to appreciate the problems related to global warming and cannot continue to ignore the risks of climate change. It re-iterated that position last week after Mr Trump’s announcement. “Politics aside, investors can no longer ignore climate risks and the impact of climate-related regulations and technological advancements on the companies in which they invest,” said Ewen Cameron Watt, a senior director at BlackRock. Walking away from the Paris accord provoked widespread anger among some of the US’s closest allies, including Germany, France, Italy, Canada and Japan. It prompted Ray Dalio, chairman of Bridgewater, the world’s largest hedge fund manager, to express reservations about Mr Trump’s approach to international affairs. “I am concerned about his path. I am especially concerned about the consequences of his pursuing so much conflict,” says Mr Dalio.
FT 15th June 2017 read more »