John Kerry, President Biden’s special envoy for climate change, urged business leaders on Wednesday to recommit themselves to reducing emissions, promising big profits for those who do so. “A zero emissions future offers remarkable opportunity for business, for clean green jobs, for economic growth,” he said at the virtual World Economic Forum, traditionally held in Davos. “The highest valued auto company in the world today is Tesla, and it only makes electric vehicles. Mitsubishi is building the world’s largest zero emissions steel plant in Austria.”Mr. Kerry, a former secretary of state and Democratic presidential nominee, went on to list a number of companies that are succeeding and added, “Globally, the cheapest new electric power plant you can install is based on renewables.’’In many parts of the world, including in the Southwest United States, India and the Middle East, solar panels increasingly generate electricity at a much lower cost than plants that run on coal or natural gas. Wind turbines also provide cheap power in many areas, including in Texas and Europe.

Source: New York Times January 27, 2021 15:16 UTC