Streetlights, headlights, and apartments with lights on around noon on Sept. 9, 2020, in Russian Hill, San Francisco.
Christina Farr | CNBC
One year ago today was the most terrifying day of my life.
I’ve faced personal tragedies and professional setbacks, but there are templates to deal with those. You rely on friends and family, you nurse your grief and anger, you seek counseling. With any luck and a lot of hard work, you heal and you move on.
But the day the sky turned orange in San Francisco from widespread wildfire smoke was a different kind of tragedy, precisely because it wasn’t personal — it was communal. It affected all of us. Nobody could help. Everybody was equally freaked out. We had been breathing wildfire smoke for about three weeks, and all I could think about was how long this new phase, this deep-orange darkness, would last. A day? A week? Three weeks? We were already locked down at home from the Covid pandemic, with the kids out of school and most businesses closed. The added feeling of isolation from this new phase was almost too much to bear.
Those of us who are old enough might remember a brief window in the 1990s when it seemed like the environmental movement was ascendant. Politicians and corporations were paying attention. The entire world banned chlorofluorocarbons in less than a couple years after it became clear they were depleting the ozone layer, exposing us to more solar radiation. The ozone layer is now recovering.
But that moment faded, replaced by the urgency of the War on Terror and the gridlock of hardcore partisan politics, along with a global economic expansion that has lifted hundreds of millions of people out of poverty and into the middle class.
That global economic expansion has been fueled by cheap fossil fuels and accompanied by a dramatic rise in greenhouse gas emissions. This year’s report from the United Nations’ Intergovernmental Panel on Climate Change, released in August, shows the picture very starkly. We are currently averaging 410 parts-per-million of CO2 in the atmosphere — well above the 382ppm figure that Al Gore used in his famous chart of CO2 concentrations in the 2006 movie, “An Inconvenient Truth.”
The wildfires in the west aren’t caused entirely by climate change — fires have always been part of the landscape, and forest management practices have definitely played a part. But so did two decades of record heat and a drought that has killed millions of trees. Today’s fires burn hotter and spread faster than any in recent memory, according to scientists and firefighters.
Climate change has been hard for most of us to see and feel. That’s beginning to change. This year’s continuous parade of extreme weather events — floods, hurricanes and wildfires — is a foretelling of what the world faces. If you haven’t faced your orange day yet, chances are you will.
The positive side of all this: More people than ever before are committed to finding solutions. Personally, the orange day in San Francisco inspired me to shift some of my attention from the tech industry, which I’ve been covering for more than 25 years, to focus on what I believe will be the most important news story of the next few decades.
Similar events are inspiring people to take action all over the world.
Many are advocating for major political changes, and the upcoming COP26 conference in Glasgow will almost certainly be a lightning rod for protests.
But while political solutions are a necessary part of the puzzle, those changes can be reversed or their impact blunted by the next election cycle.
More excitingly, the business world is finally, belatedly climbing aboard. Venture capitalists and billionaires like Bill Gates and Tom Steyer are racing to fund start-ups dealing with everything from clean energy to agriculture to transportation. Companies are boasting about their plans for reaching net-zero carbon emissions. Banks and insurance companies are quietly acknowledging the risks associated with climate change and adjusting their practices accordingly. ESG funds with a strong emphasis on green solutions are immensely popular — although not always effective. Tesla, the biggest auto company in the world by market cap, pioneered making zero-emission electric vehicles at scale, sending the auto giants and dozens of scrappy start-ups to follow as fast as they can.
At CNBC, we intend to cover the climate crisis from a business news perspective. We know what the predictions say could happen 20, 50 and 100 years into the future — but what’s happening today? How is climate change affecting businesses and individuals right now? Who’s proposing ambitious new solutions to reduce carbon emissions and suck carbon out of the atmosphere, who’s funding those solutions, and what are their chances of success? How are companies preparing for an uncertain future? What can you do to prepare yourself and your family — financially, physically, and mentally?
Pledges are less important than action. Rather than focusing on what companies say they intend to do, we’ll focus on what they are actually doing, where they are actually spending money and whether that money is doing any good — or is simply a half-hearted attempt to garner some positive press. Greenwashing is rampant, and ripe for exposure. We’ll look closely at trends like ESG investing and carbon offsets to explain how they work — or don’t work — and talk to policy experts about alternative financial solutions that could be more effective. We’ll treat every start-ups claims with the same kind of cautious “show-me” skepticism we’ve learned to adopt through collective decades of experience covering the tech industry.
There are no magic bullets. The carbon we’ve already pumped into the atmosphere is not going away any time soon, and the effects will probably get worse before they get better. The political, cultural and psychological barriers to change are a huge challenge — nobody likes being told to consume less. Nobody likes being told they must suddenly revamp their business at great expense with no guarantee of higher future profits. Investors will continue to seek returns, as they always have.
But as the world wakes up to the reality of climate change, there’s more money flowing toward the problem than ever before. Collective human ambition and the desire to improve our condition got us into this mess. They’re necessary to get us out.
Robinhood stock hit an all-time high Friday as the financial services platform continued to rip higher this year, along with bitcoin and other crypto stocks.
Robinhood, up more than 160% in 2025, hit an intraday high above $101 before pulling back and closing slightly lower.
The reversal came after a Bloomberg report that JPMorgan plans to start charging fintechs for access to customer bank data, a move that could raise costs across the industry.
For fintech firms that rely on thin margins to offer free or low-cost services to customers, even slight disruptions to their cost structure can have major ripple effects. PayPal and Affirm both ended the day nearly 6% lower following the report.
Despite its stellar year, the online broker is facing several headwinds, with a regulatory probe in Florida, pushback over new staking fees and growing friction with one of the world’s most high-profile artificial intelligence companies.
Florida Attorney General James Uthmeier opened a formal investigation into Robinhood Crypto on Thursday, alleging the platform misled users by claiming to offer the lowest-cost crypto trading.
“Robinhood has long claimed to be the best bargain, but we believe those representations were deceptive,” Uthmeier said in a statement.
The probe centers on Robinhood’s use of payment for order flow — a common practice where market makers pay to execute trades — which the AG said can result in worse pricing for customers.
Robinhood Crypto General Counsel Lucas Moskowitz told CNBC its disclosures are “best-in-class” and that it delivers the lowest average cost.
“We disclose pricing information to customers during the lifecycle of a trade that clearly outlines the spread or the fees associated with the transaction, and the revenue Robinhood receives,” added Moskowitz.
Robinhood is also facing opposition to a new 25% cut of staking rewards for U.S. users, set to begin October 1. In Europe, the platform will take a smaller 15% cut.
Staking allows crypto holders to earn yield by locking up their tokens to help secure blockchain networks like ethereum, but platforms often take a percentage of those rewards as commission.
Robinhood’s 25% cut puts it in line with Coinbase, which charges between 25.25% and 35% depending on the token. The cut is notably higher than Gemini’s flat 15% fee.
It marks a shift for the company, which had previously steered clear of staking amid regulatory uncertainty.
Under President Joe Biden‘s administration, the Securities and Exchange Commission cracked down on U.S. platforms offering staking services, arguing they constituted unregistered securities.
With President Donald Trump in the White House, the agency has reversed course on several crypto enforcement actions, dropping cases against major players like Coinbase and Binance and signaling a more permissive stance.
Even as enforcement actions ease, Robinhood is under fresh scrutiny for its tokenized stock push, which is a growing part of its international strategy.
The company now offers blockchain-based assets in Europe that give users synthetic exposure to private firms like OpenAI and SpaceX through special purpose vehicles, or SPVs.
An SPV is a separate entity that acquires shares in a company. Users then buy tokens of the SPV and don’t have shareholder privileges or voting rights directly in the company.
OpenAI has publicly objected, warning the tokens do not represent real equity and were issued without its approval. In an interview with CNBC International, CEO Vlad Tenev acknowledged the tokens aren’t technically equity shares, but said that misses the broader point.
“What’s important is that retail customers have an opportunity to get exposure to this asset,” he said, pointing to the disruptive nature of AI and the historically limited access to pre-IPO companies.
“It is true that these are not technically equity,” Tenev added, noting that institutional investors often gain similar exposure through structured financial instruments.
The Bank of Lithuania — Robinhood’s lead regulator in the EU — told CNBC on Monday that it is “awaiting clarifications” following OpenAI’s statement.
“Only after receiving and evaluating this information will we be able to assess the legality and compliance of these specific instruments,” a spokesperson said, adding that information for investors must be “clear, fair, and non-misleading.”
Tenev responded that Robinhood is “happy to continue to answer questions from our regulators,” and said the company built its tokenized stock program to withstand scrutiny.
“Since this is a new thing, regulators are going to want to look at it,” he said. “And we expect to be scrutinized as a large, innovative player in this space.”
SEC Chair Paul Atkins recently called the model “an innovation” on CNBC’s Squawk Box, offering some validation as Robinhood leans further into its synthetic equity strategy — even as legal clarity remains in flux across jurisdictions.
Despite the regulatory noise, many investors remain focused on Robinhood’s upside, and particularly the political tailwinds.
The company is positioning itself as a key beneficiary of Trump’s newly signed megabill, which includes $1,000 government-seeded investment accounts for newborns. Robinhood said it’s already prototyping an app for the ‘Trump Accounts‘ initiative.
Korean auto giants Hyundai and Kia think lower-priced EVs will help minimize the blow from the new US auto tariffs. Hyundai is set to unveil a new entry-level electric car soon, which will be sold alongside the Kia EV2. Will it be the IONIQ 2?
Hyundai and Kia shift to lower-priced EVs
Hyundai and Kia already offer some of the most affordable and efficient electric vehicles on the market, with models like the IONIQ 5 and EV6.
In Europe, Korea, Japan, and other overseas markets, Hyundai sells the Inster EV (sold as the Casper Electric in Korea), an electric city car. The Inster EV starts at about $27,000 (€23,900), but Hyundai will soon offer another lower-priced EV, similar to the upcoming Kia EV2.
The Inster EV is seeing strong initial demand in Europe and Japan. According to a local report (via Newsis), demand for the Casper Electric is so high that buyers are waiting over a year for delivery.
Advertisement – scroll for more content
Hyundai is doubling down with plans to introduce an even more affordable EV, rumored to be the IONIQ 2. Xavier Martinet, CEO of Hyundai Motor Europe, said during a recent interview that “The new electric vehicle will be unveiled in the next few months.”
Hyundai Casper Electric/ Inster EV models (Source: Hyundai)
The new EV is expected to be a compact SUV, which will likely resemble the upcoming Kia EV2. Kia will launch the EV2 in Europe and other global regions in 2026.
Hyundai is keeping most details under wraps, but the expected IONIQ 2 is likely to sit below the Kona Electric as a smaller city EV.
Kia Concept EV2 (Source: Kia)
More affordable electric cars are on the way
Although nothing is confirmed, it’s expected to be priced at around €30,000 ($35,000), or slightly less than the Kia EV3.
The Kia EV3 starts at €35,990 in Europe and £33,005 in the UK, or about $42,000. Through the first half of the year, Kia’s compact electric SUV is the UK’s most popular EV.
Kia EV3 (Source: Kia)
Like the Hyundai IONIQ models and Kia’s other electric vehicles, the EV3 is based on the E-GMP platform. It’s available with two battery packs: 58.3 kWh or 81.48 kWh, providing a WLTP range of up to 430 km (270 miles) and 599 km (375 miles), respectively.
Hyundai is expected to reveal the new EV at the IAA Mobility show in Munich in September. Meanwhile, Kia is working on a smaller electric car to sit below the EV2 that could start at under €25,000 ($30,000).
Kia unveils EV4 sedan and hatchback, PV5 electric van, and EV2 Concept at 2025 Kia EV Day (Source: Kia)
According to the report, Hyundai and Kia are doubling down on lower-priced EVs to balance potential losses from the new US auto tariffs.
Despite opening its new EV manufacturing plant in Georgia to boost local production, Hyundai is still expected to expand sales in other regions. An industry insider explained, “Considering the risk of US tariffs, Hyundai’s move to target the European market with small electric vehicles is a natural strategy.”
2025 Hyundai IONIQ 5 (Source: Hyundai)
Although Hyundai is expanding in other markets, it remains a leading EV brand in the US. The IONIQ 5 remains a top-selling EV with over 19,000 units sold through June.
After delivering the first IONIQ 9 models in May, Hyundai reported that over 1,000 models had been sold through the end of June, its three-row electric SUV.
While the $7,500 EV tax credit is still here, Hyundai is offering generous savings with leases for the 2025 IONIQ 5 starting as low as $179 per month. The three-row IONIQ 9 starts at just $419 per month. And Hyundai is even throwing in a free ChargePoint Home Flex Level 2 charger if you buy or lease either model.
Unfortunately, we likely won’t see the entry-level EV2 or IONIQ 2 in the US. However, Kia is set to launch its first electric sedan, the EV4, in early 2026.
Ready to take advantage of the savings while they are still here? You can use our links below to find deals on Hyundai and Kia EV models in your area.
FTC: We use income earning auto affiliate links.More.
As EVBox shuts down its Everon business across Europe and North America, EV charging provider Blink Charging is stepping up to offer support to customers caught in the transition.
EVBox’s software arm Everon recently announced it’s winding down operations alongside EVBox’s AC charger business. That’s left a lot of charging station hosts and drivers wondering what comes next. Now, EVBox Everon is pointing its customers toward Blink as a recommended alternative.
Blink says it’s ready to help, whether that means keeping existing chargers up and running or replacing aging gear with new Blink chargers.
“EVBox has played a significant role in the growth of EV charging infrastructure across the UK and Mainland Europe, and we recognize the trust hosts have placed in its solutions,” said Alex Calnan, Blink Charging’s managing director of Europe. “With the recent announcement of Everon’s withdrawal from the EV charging market, it’s natural to have questions about what this means for operations. At Blink, we want to assure Everon customers that we are here to help them navigate this transition.”
Advertisement – scroll for more content
Blink says it’s able to offer advice, replacements, and ongoing network management to make the changeover as smooth as possible.
Everon users who switch to Blink will get access to the Blink Network portal via the Blink Charging app. That opens up real-time insight into charger usage and lets hosts set pricing, manage users, and download performance reports.
“At Blink, our charging technology is future-ready,” added Calnan. “With advancements like vehicle-to-grid technology on the horizon, our chargers are built to support the future of electric vehicles and charging habits.”
The company says its chargers are in stock and ready to ship now for any Everon customers looking to make the jump.
In October 2024, France’s Engie announced it would liquidate the entire EVBox group, which it said posted total losses of €800 million since Engie took over in 2017. EVBox is closing its operations in the Netherlands, Germany, and the US.
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links.More.