Thank you for your thoughtful response. > Would you at least agree with me that the IRA was a good law, and it is real progress towards our green goals? I’m n

Thank you for your thoughtful response. > Would you at least agree with me that the IRA was a good law, and it is real progress towards our green goals? I’m not American and whilst I’m aware of IRA and it’s broad objectives, I needed to look up some precise specifics. From McKinsey: “Significant federal funding for climate efforts. The IRA directs nearly $400 billion in federal funding to clean energy, with the goal of substantially lowering the nation’s carbon emissions by the end of this decade.1 The funds will be delivered through a mix of tax incentives, grants, and loan guarantees”. On the face of it, that sounds like good law and big bucks. Public money for public goods where there is market failure. You are right. I also appreciated your point that lobbying to prevent new regulation is not hard. I suspect you might also follow the logic that financing both sustainable business on the one hand, and unsustainable business on the other hand is plain and simple playing both sides. The banking sector response to this is to say it is for governments to legislate which businesses are legal and which are not, and not to use banking regulation to suffocate unsustainable business by the back door. The head of the ECB has himself said as much. This seems like a legitimate response until you realise that banks are powerful actors in many industry bodies lobbying against reduction in fossil fuel production, ie stopping unsustainable business in a more direct and transparent way. As per the Bloomberg piece, after the Glasgow COP when the banks made big promises, they then went home and did their homework and realised they’d go bust if their unsustainable clients were cut loose. Thanks again for participating in this discussion. It helped clarify my own thinking and I learned something new about the lobbying process. How to stop fossil fuel production has eluded everyone for decades. We probably won’t solve it today!