CEOs are still buying into the business case for sustainability, despite Trump's climate rollbacks

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• In today’s CEO Daily: Diane Brady gauges CEOs’ reaction to Trump’s rollback of a bedrock scientific finding that underpins climate regulation.
• The big leadership story: Ford CEO Jim Farley continues the automaker’s EV pivot.
• The markets: Mostly down as another AI scare trade triggered a selloff on Thursday.
• Plus: All the news and watercooler chat from Fortune.

Good morning. Here’s a secret: Most CEOs believe climate change is real. They need to deal with it to stay profitable, create resilient operations, and remain relevant to their customers and employees. Texas leads the country in the production of both fossil fuels and renewable energy, in part because everyone knows the state’s power grid needs all the help it can get. Every time there’s a development that could reverse corporate action on climate change, from the Supreme Court’s 2024 reversal of the Chevron doctrine to the U.S. Department of Energy’s stunning report last year that downplayed global warming, I check in with leaders to see if they’re changing their strategy. The answer is they’re not.