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2020-01-23 09:56:52| Guardian Unlimited Business - more business news

Rolling coverage of the third day of the World Economic Forum in DavosLatest: Mnuchin slaps down Thunbergs divestment callImmediate divestment would hurt growth and pensions, says US 8.56am GMT After trying to clip Gretas wings, US treasury secretary Stephen Mnuchin argued that there are no easy choices when it comes to the environment.He told reporters:When I was allowed to drive I had a Tesla. I drove in California. I liked it.But nobody focuses on how that electricity is made, and what happens to the storage and the environmental issues on all these batteries.If you look at the US from a leadership standpoint - driven by private industry not governent control, weve been a leader.Many economies are transitioning to more efficient and cleaner energy. That doesnt have to be all renewables.In #Davos this morning, Sec. Mnuchin is asked about @GretaThunberg's call to divest from fossil fuels.Mnuchin: "After she goes and studies economics in college she can go back and explain that to us."#WEF50 7.59am GMT Mnuchin adds that people who call for fossil fuel divestment should remember there are significant economic issues, issues with jobs.Many economies are transitioning to a lower-emissions economy. Continue reading...

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