From NOT A LOT OF PEOPLE KNOW THAT
By Paul Homewood
LONDON, July 29 (Reuters) – Some of Britain’s top listed companies could be downplaying risks from climate change on their bottom line and could face “appropriate action”, regulators said on Friday.
Trillions of dollars have flowed into stocks and bonds of companies which tout their environmental, social and governance (ESG) credentials, leaving regulators worried about “greenwashing” or companies flattering their green profile to attract investments.
Companies listed on the London Stock Exchange’s premium market have been required since 2021 to make climate-related disclosures to investors in line with the global Taskforce on Climate-related Financial Disclosures (TCFD) – or to explain why they have not.
You know it’s a religion when they try to ban dissent.
The whole idea anyway that most UK companies will suffer losses because of global warming are absurd.
Let the inquisition begin. Those who have sinned will be punished. Trent your sins or face eternal damnation. Well endless fines for railing to believe…. You must believe or be cancelled.
it reminds me of Spain for some reason?
Let me try that again now I am sat on my computer not in the glare of the lovely sunshine here in Central UK.
Let the Inquisition begin. Those who have sinned will be punished. Repent your sins or face eternal damnation, well endless fines for failing to believe anyway. …You must believe or you will be cancelled. It reminds me of Spain for some reason…?
Some railing seems appropriate!
Trent is innocent
Huh, that’s what he says…maybe it was Severn that led Trent astray ?
I’m Trenticus!
I wasn’t expecting that
And who exactly gets to decide if they are “downplaying”? I’ll bet it’s someone who can accept indulgence payments in brown paper bags left under park benches.
Forget the inquisition, this is ancient, this is human rites following the modern model of social, redistributive, clinical, political, and fair weather special and peculiar causes.
That said, they think that they can abort the baby, cannibalize her profitable parts, sequester her carbon pollutants, and have her, too. They may be, should be, playing with a double-edged scalpel, or not. Welcome to the Twilight Fringe, the Pro-Choice ethical religion… monotonically divergent.
I have a duck and the wood cross ready for the trials.
Setup a climate hypocrite paparazzi who follow around these spanish inquisitors and show how they use fossil fuels every day and publish it all, embarrass them and shame them. Fight fire with fire.
The TCFD chair is none other than a Mr Michael Bloomberg, owner of one of the biggest carbon footprints out there, Bloomberg threatening other companies to report their carbon sins is some top notch hypocrisy.
“All animals are equal, but some animals are more equal than others”
Under Australian law at least, directors are required to act in the best interests of the shareholders. If directors do that then, if they are punished for climate transgressions, hopefully at least some of our judges have the backbone to call out any regulator that tries to force something through that the directors do not believe is appropriate. Most of our regulators are stacked with bureaucrats that have never run anything larger than the chook raffle for their kids pre-school. They have no idea at all how things run out there in the real world. In the ACT where I live, we have – according to our government – totally green power – but at the moment it is dark and there is no wind. So here do those bureaucrats and politicians think the power is coming from? Shareholders will judge companies harshly if the directors don’t do their jobs properly.
Quilter52: “So [w]here do those bureaucrats and politicians think the power is coming from?”
–
Don’t be silly. Everybody knows electricity comes from that little outlet on the wall.
How they fit all that electricity into one of those small outlets is a mystery to me. I tend not to think about it.
😉 😉
You are silly….
It’s AC, the electrons come out, do their work and then on the opposite phase, they go back into the socket, doing more work as they rush home.
You don’t need a large socket for that, it’s recycling at it’s finest.
Thankfully we didn’t use DC, else you really would need a large storage of electrons.
If you need the sarc tag, then this comment is not for you.
What’s frightening Eng_Ian, is that I know people who would believe that…
The same people who believe CO2 is evil and money grows on (other peoples) trees?
“Most of our regulators are stacked with bureaucrats that have never run anything”
Most of our regulators are stacked with activists and the gulls of activists.
Companies that accept this ESG nonsense are the one who should be punished, although I think this will happen naturally as a result of the breach of their fiduciary responsibility to share holders.
The green nutjobs know this and consistent with the false equity agenda, they want to penalize the sane so they don’t look as insane by comparison.
“In an insane world, the lone sane man, must therefore appear insane.”
Such observations aren’t limited to the 21st century.
“Those who are able to see beyond the shadows and lies of their culture will never be understood let alone be believed by the masses.” — Plato
/
Smart investors should punish those idiots by not investing with them.
Except that large public source subsidies assure profits, so not investing is failure to follow sane financial policies. The trick will be to divest at the appropriate moment.
People that know they are lying are afraid of refutation.
Wouldn’t it be fun if they did tell the truth that the government’s Net Zero lunacy and the already screwed up electricity generation and gas supply are the real threats to them and not a few days of warm weather every year.
But it isn’t a few days of warm weather. It is less cool/cold nights that we are getting for our climate sins.
climate risks are acknowledged to be circumstances such as having your business banned by ideologues.
Reminds me of the good ol’ days of the inquisition. Cults of any sort demand blind faith of their followers, and once powerful enough, from all.
That is what happening now in our modern version of the persecution of non-believers of yesteryear.
Thumbscrews and stretching racks next?
Nope ducks, water, wooden crosses and burning is how you deal with witches.
How can anyone or company suffer from something that is not happening? Regulators should have more than policy backing their accusations. Also regulators interests are not at stake if the business folds because of restrictions on the company.
To paraphrase the nail for want of honesty the company was lost.
If enough companies fold, there won’t be anything for the regulators to regulate, so, of course, the Government will defund them, right? (Is \sarc really necessary?)
As Hillary declared it’s not the government’s fault if underfunded businesses are not able to afford all the new regulations.
It just proves that the free market is not able to handle everything and that only the government is capable of dealing with the modern world.
A decade ago, that would have been sarcasm. Now it’s government policy.
But – but – — bbut –The MODELS tell us the future, right????
It is getting worse.
My stockbroker is now forbidden by his employer to sell me shares in companies which have the production of coking coal as their primary business. Flammable coal yes, steel making yes, coking coal no.
You couldn’t make it up.
they are breaching their fiduciary responsibility… full stop … change brokers or maybe sue them …
It’s your damn money! You tell them what to do with it, not the other way around.
It’s like lawyers, they are there to do your bidding. Too many think they can instruct you what to do.
Or accountants who seem to work for the tax office.
I had an accountant in the UK once who reported my tax liability, and therefore forced payment of said tax, even before my invoices had been raised. I asked how, and why?
Apparently, they worked out the income my company would be due based on the time sheets I’d given them (for wages payments). How is that income? Apparently, that’s what they have to do.
The simple solution was not to send my accountants the time sheets any more, and employed a bookkeeper to work out the salaries. I also ‘forgot’ to send them invoices until they had been paid, and then I magically ‘remembered’ them. My clients were notoriously slow payers, and I don’t like paying tax on income not received. In Australia I was able to only pay tax on funds received.
Put in an order that you know they won’t follow through on.
When it goes up, sue them; turn them in to the appropriate regulatory board; tell them they are poop heads.
Get another stockbroker immediately. And tell them why.
Obey the religion or face the consequences!
Not the first time that threat was made …
Big Corp goes along with ESG & the climate change fraud because they need government subsidies and bailouts to survive. The global economy is crony capitalism & government corruption.
Another element of this is the war on small business through COVID restrictions & the war on farmers with fertilizer & bovine CH4 restrictions. If you aren’t big enough to pay big bribes you will be eliminated & replaced by Big Corp.
Historically known as fascism. The co-operation between big business and government to run a country.
We are in that territory now in the west. Meanwhile Putin is ensuring there remains a delineation between the two in Russia. He’s busy clearing out the corruption. We notice there is no objection from him over corrupt oligarchs having their bank accounts frozen and yachts seized by the west. We’re doing his job for him.
Yup. Putin doesn’t like the competition.
The only oligarchs that Putin has gotten rid of, are those that don’t support him.
Whether or not they are corrupt, is immaterial.
If you decide to live in a country and be a citizen of that country, and yet don’t support the government of that country, you are corrupt by definition. Some less lenient countries would call it treason or sedition.
Crony capitalism is just another form of socialism. It’s a phrase that the socialists use to confuse those who aren’t paying attention.
Having government pick the winners and losers in the market place has nothing to do with capitalism and everything to do with socialism.
and any money managers who force feed ESG investing on their clients are violating one of the basic tenets of fiduciary responsibility… they are simply NOT choosing appropriate investments … ESG investing has a timeline of 50-100 years out … and most if not all of their clients would be long dead … therefore not an appropriate investment for their clients … their client can ASK them to invest based on ESG but the money manager should NEVER be recommending it …
For the time being those companies that are intimidated to comply with ESG diktats can’t see what harm it will do them. Just wait.
The waiting is over in Florida, USA.
https://flgov.com/2022/07/27/governor-ron-desantis-announces-initiatives-to-protect-floridians-from-esg-financial-fraud
It’s definitely getting harder to tell the difference between a command and control economy and a green (command and control) economy. Or at least a blended one like China
The classic economic definitions are ‘demand economy’ or ‘command economy’ i.e. capitalism or communism. Now we have your third classic option to add to the text books The Green’s ‘demand control’ economy.
It might be simpler to call it as it is, ‘decline economy’. Even though we know who the culprits are and what the eventual outcome will be, never the less, governments are going along with the bizarre wish for economic suicide.
I wish I understood why?
Makes you wonder what would happen if corporate guidance included statements about the threats from external manipulation of the corporate statement in addition to the climate statement itself.
In my book Threats of this nature are illegal and a legal system that doesn’t do anything about is complicit.
Who are these watchdogs or Regulators? They should named, blamed, shamed and taken to task with appropriate penalties.
I probably isn’t common but it does happen in the USA that Washington sends justice department ‘advisors’ to state courts to assure that state judges follow Federal policy rather than laws or constitutional provisions when that policy is considered important enough by Washington.
Some of The UN’s top listed people could be downplaying risks from climate change as reflected in their luxurious lifestyles – including the cars, houses, yachts and private jets – and should face “appropriate action”
Don’t you remember that private jets and yachts were given specific exemption from a UK carbon tax?
There is a funny side to that playing out in social media at the moment
https://www.msn.com/en-au/entertainment/other/taylor-swift-kylie-jenner-drake-and-the-rise-of-the-climate-criminal/ar-AA10auaI
Taylor Swift is number 1 climate criminal 🙂
Checkout the twitter feed
https://twitter.com/CelebJets
Hahaha. No sympathy – especially for that arch-hypocrite DiCaprio! Someone should message them to track the private jets going to and from the COP junkets!
When they say “climate risk” what they mean is climate policy risk. Companies are supposed to have a crystal ball they can gaze into to tell them what sort of retarded climate policies are going to be put in place which will affect them negatively.
It’s a pretty safe bet that any government policy will harm the economy in general.
Most companies know which way the regulatory wind is blowing and will churn out as much generic ESG waffle as deemed necessary. But I do wonder if the companies which have piggy-backed the climate change agenda – whether it be subsidy farming, or providing those ‘essential’ new services (carbon accounting comes to mind) will declare as a risk that global warming hysteria might one day evaporate?
“The whole idea anyway that most UK companies will suffer losses because of global warming are absurd.”
Should be edited:
The whole idea anyway that most UK companies will suffer losses because of the demented actions of the British Government premised on their mistaken obsession with global warming is true and happening as we speak.
I supposed everyone else has noticed that the “smoke” coming out of the factory chimney is almost certainly water vapour.
Can’t we sue someone for misrepresentation?
If you were to scatter plot High ESG companies against Low ESG companies you will no doubt find correlation with respect to greater profit for those that ignore ESG.
A company’s role is to make profit for its shareholders. Everything else should be disregarded. All who have a pension should reject this irrational nonsense.
UK regulators have forced corporations into playing the ESG fake virtue eco game, and now want to punish those who might not be wholly committed to the fraud. 🤣🤣🤣
I shouldn’t laugh really. This nonsense is going to go around the world faster than the Wuhan Virus, and cause greater economic catastrophe.
“Some of Britain’s top listed companies could be downplaying risks from climate change on their bottom line and could face “appropriate action”, regulators said on Friday.”
It is past time for these mindless vicious regulators to be dealt with. They serve very little useful purpose and cause a whole lot of damage. Anyone who makes a threat like this to a lawfully operating company should be fired on the spot with no pay, no benefits and lifetime ban from ever working for or with the government. They are punks.
The secret policy always have good job security.
It needs to end.
A climate of strawmen dressed as clowns. That said, a climate of risk inures from scientific profitsy, redistributive change schemes, and single/central/monopolistic solutions that are first-order forcings of catastrophic anthropogenic progressive prices and misaligned development (CAPPMD).
Punish them in between sucking up to and kissing the feet of Chairman Xi.