We find ourselves in the early stages of a new presidency. While the Trump administration has been vocal concerning climate change, questions about how policies and programs may be affected remain largely unclarified. If the first weeks serve as a telling indicator, voices from multiple sectors of the business community will add their opinions and preferences to the national dialogue. Still, many business sectors, including the insurance industry, which underwrites them all, now contemplate facets of climate related risk within normal practice. This suggests that government policy is no longer destined to play the largest role. Considering market forces, renewable energy costs for instance now compare favorably with conventional generation. Wind and solar produce more jobs than fossil fuels do, from California to Texas and beyond. It also remains to be seen how the new administration will act on its expressed interest in public-private finance for infrastructure investments. Perhaps the business background of many of those in cabinet and leadership positions could prove fruitful for adjusting federal policy and action to reflect perspectives aligned with commercial realities. Time will tell.
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