Capitalism’s new role to play

FOLLOW US SUBSCRIBE   Some 24 European cities, including London, Paris and Milan, are banning diesel engines over the next decade. Meanwhile, more than a dozen will bar all combustion cars in a bid to meet emissions limits. —Josh Petri   "That's what the system does. It shifts money away from where it's costly, toward where it has opportunity." —Bank of England Governor Mark Carney, explaining how financial opportunities presented by the climate crisis mean capitalism has a role to play in the fight.     Top stories Ten of Britain's hottest years on records dating back to 19th century have all happened since 2002, while none of the 10 coldest years occurred since 1963. From Swedish teens skipping school to picket Parliament to a human pyramid of protesters in Seoul and high schoolers marching on New York City Hall, a growing number of young people have put themselves at the forefront of the fight to slow climate change.  Scientists are becoming more willing to blame global warming for heat waves, Justin Fox writes in Bloomberg Opinion. And just in time, since the phenomenon is most likely to blame for the current scorching temperatures in Europe. For years, U.S. companies have been signing their own green power deals to cut emissions and avoid drawing the ire of environmental groups. Now the trend is going global. Eco-conscious homebuilders have spared no expense on the most efficient building materials and design possible. Prospective buyers aren't necessarily willing to pay a similar premium.   What we've been reading The Heartland Institute, a far-right think tank which has taken money from the fossil fuel industry, was once shunned even by those in conservative circles for its climate denialism. But it has made serious inroads in Washington during the Trump administration. Environmental journalism has historically been viewed as important but unpopular. MSNBC's Chris Hayes has referred to it as a "ratings killer." But a review of data suggest that interest in such coverage is on the rise, and may even be profitable to media companies. The New York Times Magazine has compiled an astonishing account of the 2018 Camp Fire in California. The event is evidence the natural world is "warping, outpacing our capacity to prepare for, or even conceive of, the magnitude of disaster that such a disordered earth can produce."   You received this message because you are subscribed to the Bloomberg Climate Changed newsletter.     Unsubscribe | Bloomberg.com | Contact Us Bloomberg L.P. 731 Lexington, New York, NY, 10022