But we haven't earned the right to do it yet. I was reading the Financial Times this morning and was again struck by the lunacy of the World Bank dropping its climate-finance targets while the United States pressures other multilateral development banks to do the same. The World Bank had set a target for 45% of its financing to have climate co-benefits. It hit it. In fiscal 2025, 48% of World Bank Group financing had climate co-benefits. At International Bank for Reconstruction and...

The backlash against climate and sustainability is not evidence the transition is failing. It is what happens when the incumbent economy can no longer win on economics alone. A communications expert asked me recently why climate technology, ESG and just about everything associated with sustainability suddenly seem to be under attack. My immediate answer was provocative...well, maybe glib is a better word: Because we are witnessing the final throes of a system in decline. I wrote that line in...

Infrastructure is a physical record of the assumptions we made about how the world would behave. Those assumptions have expired. When I was an engineering student, I took a business engineering class. We all did. It was required. I do not remember the name of the textbook. I do not remember every formula we were taught. I probably could not solve some of the problems today without a generous amount of time and a patient tutor. But I remember the tables at the back of the book. The professor...