Bloomberg Sees a Way on Keystone

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Bloomberg Sees a Way on Keystone

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Wednesday, March 4, 2015 - 8:40am

CAMPAIGN: Bloomberg: Sustainable Finance

CONTENT: Article

By Joe Nocera

No one can question Michael Bloomberg’s climate change bona fides. As mayor of New York, he declared that cities had to lead the way in reducing the threat of climate change, and he strove to make New York greener. He has donated millions of dollars to the effort to shut down coal-fired power plants. He endorsed President Obama for re-election in 2012 primarily because the president, he said, “has taken major steps to reduce our carbon consumption.” Most recently, he was named the United Nations secretary general’s special envoy for cities and climate change, a position he appears to be taking quite seriously.

Bloomberg is also a supremely pragmatic man, who prides himself on not letting ideology get in the way of finding practical solutions to difficult problems. Thus it was that earlier this week — after Obama vetoed a bill passed by Congress that would have forced him to approve the Keystone XL oil pipeline — Bloomberg wrote an article for Bloomberg View, his media company’s opinion publication, proposing an idea for breaking the logjam over the pipeline, which would transport oil from the tar sands of Alberta, Canada, to refineries in the Gulf of Mexico.

His idea is that the Obama administration should negotiate directly with the Canadian government, and come up with a climate pact that would more than offset the emissions that would be generated — indeed, are already being generated — by mining the oil from the sands. Though it is unlikely to satisfy the partisans on both sides, it is a wonderfully sensible solution.

Continue reading the full article on The New York Times.

Keywords: Environment | Bloomberg | Canada | Energy | Government | Innovation & Technology | Keystone | Mexico | Obama | Responsible Production & Consumption | Sustainable Finance & Socially Responsible Investment

CAMPAIGN: Bloomberg: Sustainable Finance

CONTENT: Article

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