Guest essay by Eric Worrall
Shareholders of Warren Buffet’s Berkshire Hathaway have rejected an attempt by activist shareholders, to force the company to write a report about the “dangers” climate change poses to the Insurance business.
Berkshire Hathaway shareholders have overwhelmingly rejected a resolution calling for the company to write a report about the risks climate change creates for its insurance companies.
CEO Warren Buffett says he agrees that dealing with climate change is important for society, but he doesn’t think climate change creates serious risks for Berkshire’s insurance businesses.
Buffett says the fact that Berkshire generally writes insurance policies for one-year periods allows it to regularly re-evaluate risks, such as climate change.
The activists who proposed the motion tried to urge Buffett to take a public stance in favor of measures to reduce consumption of fossil fuels, but he resisted.
The most ridiculous aspect of this shareholder eco-drama, is that Buffett seems to be genuinely concerned about climate change.
But for the intolerant fanatics behind the climate movement, expressing concern is not enough.
Any deviation from the alarmist narrative of universal catastrophe ignites a hysterical response, and in some cases a campaign to bully high profile skeptics into submission, like when the “Skeptics Society” turned on their star fake claim debunker James Randi.