SOURCE:Bloomberg
DESCRIPTION:
The transition from fossil fuels to clean energy is so established already that it would be difficult to reverse it, an official from the White House Office of Management and Budget said Monday.
And companies representing most of the world’s capital realize it, said Ali Zaidi, associate director for natural resources, energy, and science at OMB, which watchdogs climate risk for the government’s $440 billion in annual purchases.
“We’ve gotten to a point on clean energy where the costs are coming down so quickly, the uptake is happening so rapidly, and the jobs are so clear and palpable for communities all around the United States that it’s hard for the political economy to swing around to the other side,” Zaidi said at an Atlantic Council forum on corporate disclosure of climate risk.
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KEYWORDS: Finance & Socially Responsible Investment, Energy, Reporting, Accounting, schapiro, documents, SEC, task force, FSB, G20, White House, Budget, omb