good morning.
The Prince of Wales, who became Charles III on Thursday last January, luckThe CEO Initiative discusses the role businesses can and must play in tackling climate change. He told CEOs he was intrigued.
“…after many years of working to promote corporate social and environmental responsibility, and despite an endless variety of initiatives, there has been some difficulty in raising awareness, suddenly dams It looks like it’s starting to burst and people have a real problem right now, especially with that said, more investors, more shareholders and of course, as many of you know very well. We have a lot of young employees working on these issues, very seriously.
He seemed to have a clear understanding of why. It’s not that companies suddenly had some kind of moral or ethical awakening. Rather, recent events made it clear that this was a big business opportunity.
“While the pandemic has shown how vulnerable our global system is to cross-border threats, it also shows that it is indeed possible to mobilize the necessary resources to accelerate timelines. A sustainable future is indeed the coming-of-age story of our time, and it is up to us to seize the opportunities it presents.”
As for King Charles, he plans to step down from his active environmental advocacy. He revealed on Friday that Britain’s constitutional principles require him to avoid policy and political issues. “It is no longer possible for me to devote so much time and energy to charities and causes that I care so deeply about,” he said. Learn more about. You can also read his comments on his CEO initiative last year here.
Separately, Bank of America withdrew its forecast of a mild recession this year, citing signs of continued economic momentum. But economists expect a recession in the first half of next year in response to continued Fed tightening.
More news below.
Alan Murray
@alansmurray
alan.murray@fortune.com
top News
Ukraine Blitzkrieg
Ukrainian forces have made very rapid progress in the northeast of the country over the past few days. The military now claims to have recaptured 3,000 square kilometers (1,150 sq miles) in the Kharkov area since the beginning of the month, most of it in recent days and advancing to within 50 kilometers of the Russian border. , was the liberation of Idium, a major railway hub essential for regional logistics in Moscow. Russia’s announced strategy is now in tatters, and Ukraine appears to have proven what Western weapons can do. audience
Chinese loan
China has become a real competitor to the International Monetary Fund, data suggests. The country has lent tens of billions of dollars in clandestine loans in recent years, with Pakistan, Sri Lanka and Argentina receiving nearly $33 billion since her 2017. financial times
energy crisis
Is the pain of Europe’s current energy crisis temporary or the beginning of a post-industrial era? Ammonia production is declining and some are warning of the end of metal production across the continent. Of course, this would be a huge blow to the dream of independent supply chains in Europe. wall street journal
around the water cooler
Warren Buffett’s Unconventional Timing of BYD Stock Sale Reinforces His Famous Investment Philosophy, by Nicholas Gordon and Yvonne Lau
According to Bloomberg, Alphabet’s health-tech company is raising $1 billion to counter Amazon’s acquisition of One Medical in the growing health-tech “arms race.”
Janet Yellen says labor market is “very strong” right now, but won’t last long if inflation is rampant, according to Bloomberg
Millennials want a ‘soft life’ and it’s changing the way they work, Trey Williams
Eiffel Tower’s extravagant lights are in question during Europe’s energy crisis – by Steve Mollman, may close early
of this edition CEO Daily Edited by David Meyer.
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