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☆ White House announces new steps toward launching its climate corps for young people
▼ + stars: | 2023-12-19 | by ( Lucas Thompson | ) www.cnbc.com time to read: +5 min

US President Joe Biden speaks alongside Ritika Shah, award-winner of the first-ever National Climate Assessment Art x Climate competition, about his administrations actions to combat climate change in the Eisenhower Executive Office Building adjacent to the White House in Washington, DC, November 14, 2023. The highly anticipated first steps for the American Climate Corps, or ACC, were shared exclusively with NBC News on Tuesday, as the administration seeks to launch the first cohort by next summer. After facing setbacks in Congress, the Biden administration has unlocked funding to launch its American Climate Corps, a new federal program that looks to employ thousands of young Americans in the clean energy, conservation and climate resilience sectors. The White House now hopes to use funds for climate-minded programs across multiple agencies to carry out the vision of the American Climate Corps. Five states — California, Colorado, Maine, Michigan and Washington — have already launched climate corps programs, and the federal program will lean on them as implementing partners.

Persons: Joe Biden, Ritika Shah, Franklin, Alexandria Ocasio, Sen, Ed Markey, Biden, Bernie Sanders, Maggie Thomas, Washington —, hasn't, Thomas, Rosemary Enobakhare, Enobakhare Organizations: White, Civilian Conservation Corps, White House, ACC, Rep, Commerce, Agriculture, Labor, Energy, Environmental Protection Agency, AmeriCorps, American Climate Corps, NBC, U.S . Capitol, Washington, Corps, EPA Locations: Washington , DC, Puerto Rico, Alexandria, Cortez, Washington ,, — California, Colorado , Maine , Michigan

One of those strategies is private credit. As the strategy gains steam, some are concerned that higher-for-longer interest rates could put more stress on the balance sheets of borrowers. However, as servicing the debt becomes more expensive, that could force more negotiations between private credit managers and their borrowers. Arougheti said the firm has been benefitting from rising rates, boosting their relative return. He noted that in pulling data points from the 3,000 portfolio companies Ares lends to and invests in, he's seen "fundamental strength despite the rise in rates."

Persons: Michael Arougheti, helms, he's, Arougheti, CNBC's Leslie Picker

Major League Baseball was the first to open its coffers to private-investment funds in 2019; a slew of other leagues followed, including the National Basketball Association, Major League Soccer and the National Hockey League. A big participant in that is Sixth Street Partners, a $74 billion behemoth, known historically for its direct lending and growth prowess, and has been making big inroads in the sports world in recent years, with several billion dollars' worth of investments. The firm recently co-founded Bay FC, part of the National Women's Soccer League, alongside several retired players, as well as Sheryl Sandberg. Sixth Street also made investments in FC Barcelona's LaLiga TV broadcasting rights and a majority investment in Legends, a sports and entertainment experiences company. In June 2021, Sixth Street led a strategic investment with Michael Dell in the San Antonio Spurs basketball team.

Persons: Carlyle, David Rubenstein, Sheryl Sandberg, Michael Dell, Alan Waxman, what's, it's, Waxman Organizations: Alpha, CNBC, Major League Baseball, National Basketball Association, Major League Soccer, National Hockey League, Sixth Street Partners, Bay FC, National Women's Soccer League, Sixth, FC Barcelona's LaLiga, San Antonio Spurs basketball, Spanish soccer, Real Madrid Locations: U.S, Spanish

Tarpon Isle, a private island in Palm Beach, Florida, is on sale for $218 million. Tarpon Isle, a private island in Palm Beach, Florida, is on sale for $218 million. A waterfront bathroom inside the main home on Tarpon Isle, a private island in Palm Beach, Florida, on sale for $218 million. A dock servicing Tarpon Isle, a private island in Palm Beach, Florida, on sale for $218 million. A living space inside the main home on Tarpon Isle, a private island in Palm Beach, Florida, on sale for $218 million.

Lauren Taylor Wolfe co-founded Impactive Capital, an activist investment management firm focused on ESG investing for the long run. We've seen a lot of pushback come from some politicians and I think that's simply too risky. Understanding environmental risks and social risks is simply good fundamental analysis and it's simply good investing. We have too many managers, CEOs and boards focus on hitting their quarterly or annual figures and we believe that there's true opportunity to focus on long term returns, long term IRRs. And I think smart ESG initiatives is simply good business.

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