Economy & Business

"Banks Always Backed Fossil Fuel Over Green Projects — Until This Year"

"In more than five years since the world agreed to limit warming temperatures, banks have poured more than $3.6 trillion into fossil fuel—almost three times more than total bonds and loans backing green projects, according to Bloomberg data. Now this enduring disparity favoring oil, gas and coal producers might finally be at an end."

Source: Bloomberg Green, 05/20/2021

"Banks Fight $4 Billion Debt Relief Plan for Black Farmers"

"The Biden administration’s efforts to provide $4 billion in debt relief to minority farmers is encountering stiff resistance from banks, which are complaining that the government initiative to pay off the loans of borrowers who have faced decades of financial discrimination will cut into their profits and hurt investors."

Source: NYTimes, 05/19/2021

"Biden Makes Electric Pitch At Ford Plant: 'There's No Turning Back'"

"Visiting the Ford Motor Co. Rouge Electric Vehicle Center Tuesday, President Joe Biden presented an American auto industry at a crossroads, forced to choose between two options: Spend around $174 billion and speed ahead to dominate the burgeoning electric vehicle market, or cede the race to China."

Source: Detroit News, 05/19/2021

Emails Show Mining Industry, Home-Builders Shaped Arizona Water Bill

"Newly released emails reveal that lawyers and lobbyists for mining companies, developers and the agriculture industry had a hand behind the scenes in shaping Arizona’s newly adopted law on clean-water rules for rivers and streams."

Source: Arizona Republic, 05/14/2021

"Biden Signs Exec. Order to Bolster Federal Government’s Cybersecurity"

"As the East Coast suffered from the effects of a ransomware attack on a major petroleum pipeline, President Biden signed an executive order on Wednesday that placed strict new standards on the cybersecurity of any software sold to the federal government."

Source: NYTimes, 05/13/2021


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