From Watts Up With That?
Essay by Eric Worrall
“Even after 3 or 5 years more innovation?”
“It’s against physics”.
Anti-renewable blasphemy in the Davos World Economic Forum, the citadel of globalism. The moment when someone tells the emperor he has no clothes.
The video is well worth watching, once they get over their momentary shock the quiet part is being spoken aloud, all the panelists nodded and agreed.
Larry Fink, CEO of Blackrock, also trashed renewables in Davos 2024 (first published JoNova);
Blackrock CEO Larry Fink trashing renewables at Davos 2024 (full video here)
The words are out now and cannot be unspoken. For the last decade I’ve spent writing for WUWT myself and I think many of us have viewed BlackRock as an adversary, and big tech as hypocrites, all cynical exploiters promoting renewables and backing green politicians at the expense of ordinary people. But the money train has left the renewable station. Banks and big tech follow the money, and with subsidies and political goodwill for renewables on the wane, renewables are increasingly uninvestable.
Now that Fortune 500 CEOs like Vimal Kapur “I’m an engineer by trade” are speaking out, now big bankers like Larry Fink are happy to throw renewables under a bus, now that President Trump is trashing renewables and cancelling climate treaties, it might seem the battle is won.
Not everyone is onboard with the end of renewables. Some big European organisations are heavily invested in renewables and stand to lose big time if the renewable subsidy hose dries up.
Top business leaders issue an expletive-laced message on the green backlash
PUBLISHED THU, JAN 22 20262:29 AM ESTUPDATED THU, JAN 22 20268:05 AM EST
Sam Meredith@IN/SAMUELMEREDITH@SMEREDITH19
KEY POINTS
- Top business leaders at the World Economic Forum delivered an expletive-laden message on the green backlash.
- It comes amid deep concern that businesses are increasingly shying away from climate action.
- “Now, the United States … have gone hard [for] fossil fuels and kind of made anyone going for renewables feel like they’re woke, they’re not looking after shareholders. Honestly, I’m here to tell all of Davos, that is not correct,” Andrew Forrest, founder of mining giant Fortescue, told CNBC.
Top business leaders this week delivered an expletive-laden plea in defense of climate action, describing the backlash to Europe’s green transition as an “aberration.”
In an interview with CNBC at the World Economic Forum in Davos, Switzerland, Allianz CEO Oliver Bäte said he disagreed with the suggestion that it may just be a matter of time before net zero is dismissed in Europe, saying short-term thinking on this issue is “bulls—.”
Asked about political leaders backtracking on their much-vaunted European Green New Deal and Norway’s oil fund reportedly defending a push from companies to water down their climate goals, Bäte said anyone who has children “will have to worry” about the planet’s future.
“It’s an aberration that short-term people are saying that” Bäte told CNBC’s “Squawk Box Europe” on Tuesday. “I think it’s about doing it intelligently. And by the way, the role model here is China, they are going to be the leader both in terms of renewable and cost of energy.”
…Read more: https://www.cnbc.com/2026/01/22/davos-wef-green-energy-climate-change-trump.html
There is one important big player, mentioned in the article above, which wants to see the Western world remain committed to self-destructive renewables.
‘Subservient to China’: Net zero warning at Davos as Trump slams the policy, Chinese vice-premier defends renewables
America’s shock verdict at Davos has put Australia’s energy future in doubt. And China is at the centre of it all.
Harrison Christian
January 23, 2026 – 9:20AMGlobalisation wasn’t the only policy to cop extraordinary criticism at Davos — another was net zero.
…
Donald Trump went even further than Lutnick in his remarks to the forum on Wednesday local time.
…
“One thing I’ve noticed is that the more windmills a country has the more money that country loses and the worse that country is doing.
“China makes almost all of the windmills, and yet I haven’t been able to find any windfarms in China. China’s very smart — they make them, they sell them for a fortune, they sell them to the stupid people that buy them.”
In the end, it was Chinese Vice-Premier He Lifeng who advocated strongly for renewables at the forum.
“China has put in place the world’s largest renewable energy system and the most complete new-energy industrial chain,” he said in his address.
“We invite enterprises from all over the world to embrace the opportunities from the green and low-carbon transition, and work closely with China in such areas as green infrastructure, green energy, green minerals and green finance, and jointly create a green and prosperous future.”
China makes the vast majority of renewable technology. It also installs more renewable energy capacity than the rest of the world combined, though it remains by far the biggest emitter of greenhouse gases.
China, which uses vast and growing amounts of coal to manufacture renewables while maintaining a sham of going green, stands to lose 10s, possibly hundreds of billions of dollars if the world cancels Net Zero. They are using every influence lever they can pull to try to ensure global Net Zero remains on track.
China doesn’t seem to care if Net Zero wrecks the global economy, so long as China ends up on top. Perhaps they hope a broken world would be easy pickings for China’s greedy elites.
With President Trump strides the world stage, trampling green sacred cows, and some CEOs championing energy sanity, it is easy to think the battle is over. But China is patient, their culture champions the long game. China is doing everything in their power to replace the USA as the global superpower. The measure of their vast influence is the number of Western politicians and leading business figures who still champion green energy and the Chinese way, both within and outside the United States.
If President Trump’s successor is not equal to the challenge of continuing the Trump energy abundance agenda, and companies like BlackRock start maneuvering for trillions of dollars of re-instated green subsidies, 2029 will feel like 2021 all over again.
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