U.S._ Silicon Valley Bank failure shows folly of climate change investments

THE WASHINGTON TIMES

Silicon Valley Bank failure shows folly of climate change investments

A sign of a branch of the Silicon Valley Bank is pictured at an office building where the bank is located in Frankfurt, Germany, Monday, March 13, 2023. (AP Photo/Michael Probst) more >

COMMENTARY

By Cheryl K. Chumley - The Washington Times - Monday, March 13, 2023

OPINION:


Silicon Valley Bank has tanked, and now the finger-pointing begins. A good place to start is with the bank’s relationships with 1,550 or companies dedicated to fighting climate change — and the little matter of their nonprofitability.

Call it the folly of climate change investments.

That’s where investors try and cash in on moves that have yet to be made — on zero-emission cars, for example, that haven’t been invented; on reliable solar for widespread adoption, for instance, that is still the stuff of imaginations.

Silicon Valley Bank made so many investments in technology firms that promised new solar, hydrogen and battery storage projects that billions of dollars flew out the windows for projects that were in-works — maybe, perhaps — but not promised; for products that were promised — maybe, perhaps — but totally unfeasible.

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READ MORE: https://www.washingtontimes.com/news/2023/mar/13/silicon-valley-bank-failure-shows-folly-climate-ch/

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