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February 7TH 2022 The Climate Issue Our latest climate-change analysis Green investing promises a financial route towards a cleaner planet, built around the idea that big, future-minded institutions like pension funds and insurers should exclude from their portfolios carbon-intensive assets like oil, gas and coalmining companies. That line of thinking has had enormous mileage in recent years, so much so that today the value of sustainable

print-edition icon Print edition | Leaders Jan 24th, 2019 6-8 minutes WHEN AMERICA took a protectionist turn two years ago, it provoked dark warnings about the miseries of the 1930s. Today those ominous predictions look misplaced. Yes, China is slowing. And, yes, Western firms exposed to China, such as Apple, have been clobbered. But in 2018 global growth was decent, unemployment fell and profits rose. In November President Donald Trump signed a trade pact with Mexico and Canada. If talks over the next month lead to a deal with Xi Jinping, relieved markets will conclude that the trade war is about political theatre and squeezing a few concessions from China, not detonating global commerce. Such complacency is mistaken. Today’s trade tensions are compounding a shift that has been under way since the financial crisis in 2008-09. As we explain, cross-border investment, trade, bank loans and supply chains have all been shrinking or stagnating relativ