Lothar is on holiday – Jim Kean, Head of Investment, writes from New York:
The summer holidays are underway and the silly season (that period where newspaper editors are away and the interns and apprentices are in charge but only allowed to write about pets and the weather) begins next week.
This summer they may not be allowed to talk about the weather, since this time it is a serious story. The horror in Greece, and the floods and heatwave in Japan underline the effects that climate change is having. Rising global temperatures were over shadowed by trade discussions, but let’s not forget the other Trump policy: the withdrawal from the Paris Climate Accord announced in November last year. Trump said then that the US would return on a basis that was “fair”. I’m writing this in New York City and can say, after watching an empty docked New Jersey Ferry spend 15 minutes with its engines on half-power forward trying to push Manhattan Island into the Atlantic, the US has some way to go in reducing its addiction to heavy machines.
