Investors focused on environmental trends may be more vulnerable to changing tastes than they think. An industry considered sustainable today can seem nefarious tomorrow—just look at biomass. The Partnership for Policy Integrity, a U.S. environmental group, has launched an all-out attack on biomass—energy generated from burning living matter, like sugar cane, wood and waste. This week it helped file a lawsuit against the European Union for accelerating climate change by subsidizing biofuels. …Unlike fossil fuels, biomass is a form of renewable energy. …Who is right may not even be investors’ main concern. …So far, both the EU and the U.S. Environmental Protection Agency have tended to look kindly on many kinds of biofuels—especially those that can play a role in waste and forest maintenance. …Maybe regulators will stand their ground, but the fact that lobbying against biofuels has intensified should still give investors pause. [to read the full story a WSJ digital subscription may be required]