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What Next | Daily News and Analysis

The Red States Punishing Green Businesses

What Next | Daily News and Analysis

Slate Podcasts

News, Daily News, News Commentary

4.32.4K Ratings

🗓️ 18 August 2022

⏱️ 23 minutes

🧾️ Download transcript

Summary

State treasurers in red states have been banding together to punish companies that are trying to divest themselves from the fossil fuel industry. But it isn’t clear if, say, BlackRock needs West Virginia more than West Virginia needs BlackRock. And this new front in the culture war may come with a bill that taxpayers have to pay. 


Guest: David Gelles, correspondent on the Climate desk at The New York Times, covering the intersection of public policy and the private sector.



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Transcript

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0:00.0

This episode is brought to you by Slack. With Slack, you can bring all your people and

0:05.9

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0:11.1

enable flexibility and automate workflows. Plus, Slack is full of game-changing features,

0:16.9

like huddles for quick check-ins, or Slack Connect, which helps you connect with partners

0:20.9

inside and outside of your company. Slack. Where the future works, get started at

0:26.9

Slack.com slash DHQ.

0:35.9

A couple of years ago, David Gellis read a newsletter that caught his attention.

0:40.9

Well, I'll spare you the reading of the entire letterberry, but what I'll do is sort of synopsize it.

0:46.9

It came from an unlikely source. Larry Fink, the founder and CEO of the investment firm, BlackRock.

0:53.9

I was thinking about all the different crises we've dealt with in my career.

0:58.9

It's very clear to me the physical changes that we may see with climate change are more permanent.

1:10.9

What he said was that after many years, when companies really didn't put climate change

1:17.9

and the environmental crisis at the center of their decision-making processes,

1:23.9

all companies were now going to have to reckon with climate change in one way or another.

1:28.9

As a large investment firm in the world, I believe more of our clients worldwide believe

1:35.9

in some form of the science of not all the science of climate change.

1:40.9

And they're asking how should they be better prepared in their investment criteria?

1:45.9

And he made the case that that meant in part really pursuing a path towards net zero,

1:52.9

towards reducing carbon emissions.

1:54.9

Many of these problems could be solved, but the actions have to begin now.

2:02.9

David is a climate reporter at the New York Times, and he was excited to see influential executives like Fink

2:08.9

taking an interest in combating climate change.

...

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