With No Climate Bill in Sight, Investors Turn to China

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[...] the United States.And it’s getting worse. Deutsche Bank has making billions of dollars in energy-policy investments. Guess where the money’s going? Western Europe and China. Guess why:Amid so much political [...]

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Deutsche Bank needs to be very careful about those investments. If the investments make economic sense, then they are fine. If they require huge subsidies to make economic sense, they are high risk investments.

Deutsche Bank suffered huge losses investing in risky real estate loans in the United States. It may be facing similar huge losses, if its energy investments aren't competitive.

Global warming alarmism, pushed by the UN's IPCC and the EU, is being increasingly rejected by the public in nation after nation around the world. The trend is for huge government subsidies for wind and solar power to be scaled back significantly or eliminated.

China of course is a huge purchaser of low cost coal on the international market. While Europeans and Americans worry about having reliable energy from coal powered power plants, China is expanding its use of coal.

The stockholders of Deutsche Bank need to ask management to review their allocation of investment funds in the “green” area. Are these projects viable, or just highly subsidized, experimental projects?

The world is leaving the United States in the dust, because of its paralyzed and remarkably shortsighted government.

One need only look to the differences between the governments of China and the United States, and the ways they are approaching the so called clean and green technologies of the future. China is aggressively positioning itself to be a producer of these technologies, positioning itself to be a winner, while the U. S. lags far behind, apparently satisfied with the role of consumer of these technologoes, clearly a recipe for further economic failure.

That is the reason Deutsche Bank has adopted this investment strategy. Quite simply, they plan to be on the winning team.

[...] With No Climate Bill in Sight, Investors Turn to China « The … [...]

“Global warming alarmism, pushed by the UN's IPCC and the EU, is being increasingly rejected by the public in nation after nation around the world.” The same people who deny global warning are the same ones who say it is just a massive cover up for redistribution of wealth. Apparently they have their heads screwed on backwards, because, guess what, the redistribution of wealth has already happened. IE: China. Export all the labour in favor of cheep labour and look what happens? China's economy is on fire and the US, a bunch of pansies, where no one wants to get their hands dirty anymore. Meanwhile the large multinationals that are fighting legislation at all levels on climate change, are not US paying taxes and investment banks like Goldman Sachs that got bailed out also payed no tax thanks to loopholes letting them funnel money to their tax havens in the Cayman Islands. Wake up people! Accelerated Global warming is real, cut down the forests, volcanoes, cars, leaky houses, cheap toxic crap in department stores, this way of life has to come to an end.

[...] Nonsense Is Sending Billions in Green Energy Investments to China …AlterNet (blog)With No Climate Bill in Sight, Investors Turn to ChinaThe Washington Independent all 7 news [...]

[...] it’s getting worse. Deutsche Bank has making billions of dollars in energy-policy investments. Guess where the money’s going? Western Europe and China. Guess why: Amid so much political [...]

Andrew,

Your suggestion that cap and trade would have resulted in major private investment in clean tech is flawed.

As we wrote last Friday, Deutsche Bank's own policy reports indicate that that a carbon cap and trade system, or any kind of carbon pricing mechanism at politically sustainable levels, would have done little to encourage much greater clean energy investment in the United States relative to economic competitors like China, Germany and Japan, who, according to Deutsche Bank, are “low-risk” nations with stronger and more generous near-term technology incentives.

http://thebreakthrough.org/blog/2010/08/what_re…

Deutsche Bank writes:

“While emissions targets express an intention and carbon markets might deliver a price signal in the long-term, governments must strengthen underlying mandates and incentives immediately if capital is to be deployed to cover the gap, creating more investment and jobs.”

It's policy mechanisms like feed-in tariffs in Germany and procurement contracts in China that are driving massive investment there, not carbon pricing. Carbon cap and trade would not have tipped the balance, and Parker is careful not to mention cap and trade directly.

Furthermore, it is important to parse out what China is and is not planning with respect to carbon caps. China is not considering absolute emissions reductions targets or an economy-wide cap and trade system, but is considering localized trading systems, similar to the voluntary exchanges we have in the United States. A recent Reuters article on the subject states that China “won't be rushing to launch a national emissions trading scheme or to commit to absolute emissions reduction targets.”

http://www.alertnet.org/thenews/newsdesk/TOE66R…

The real story about what's happening in China that you miss in this post is the country's planned $740 billion, 10-year investment package expected to be announced soon. Indeed, the reason China has become a hub of clean tech investment is that it's government is very actively promoting the sector through major public investments in R&D, manufacturing, and incentives like procurement and feed-in tariffs. We documented this in a report released last year, “Rising Tigers, Sleeping Giant.”

http://english.peopledaily.com.cn/90001/90778/9…

http://thebreakthrough.org/blog/2009/11/rising_…

Best,

Devon Swezey
Project Director
Breakthrough Institute

[...] With No Climate Bill in Sight, Investors Turn to China « The Washington Independent [...]

[...] With No Climate Bill in Sight, Investors Turn to China « The Washington Independent [...]

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Thank you so much.

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