https://www.semafor.com/newsletter/12/06/2024/opec-is-gearing-up-for-a-game-of-chicken-with-trump
ESG vibe check
Via Semafor:
Stock market investors are pulling a record amount of cash out of climate funds, even though many have not underperformed.
Globally in 2024, nearly $600 billion was held in mutual funds and ETFs designed around shares of companies participating in the energy transition, according to a report this week from Morningstar Sustainalytics. That’s 6% more than last year. But the growth is only because many of those stocks have gained value, not because more investors are putting their money into the funds, said Hortense Bioy, Morningstar’s head of sustainable investing research. To the contrary, investors pulled $24 billion out of these funds, reversing a rush into climate funds that peaked in 2021. High interest rates that are bad for renewable energy companies are one reason. But the main driver of the exodus, Bioy said, is bad vibes. “These aren’t bad strategies, and they haven’t underperformed,” she said. “It’s more about the anti-ESG sentiment.” One segment that remains popular, she said, is “climate transition” funds that select companies based on their long-term decarbonization targets, not their carbon footprint today — and that are often loaded with Big Tech and fossil fuel companies.
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Bad vibes? If you want the perfect example of bad vibes then Keir Starmer is definitely your man.
The vibe was change, becoming a green energy superpower etc. The reality has been doom and gloom promoted by government and parliament, save for Reform; suddenly everything is fiscally awful, cuts must be made and money handed out abroad willy nilly with no cuts made there. In fact it gets more.
How do farmers feel about being hammered for an equivalent sum that is handed out to ‘international farmers‘? Angry. Very angry.
“”Hundreds of farmers are descending on Westminster in their tractors today in fury at Labour’s inheritance tax raid.””
https://www.express.co.uk/news/politics/1987158/tractor-protest-live-farmers-london
The motor vehicle industry is on the edge of oblivion, but that is precisely what Miliband and his coterie of lunatic 6th form advisors desire, a car free u/dystopia.
Time was a sensible government would have moved to support an industry in difficulty. Now, government makes it intentionally nigh on impossible.
It is for your own good…
Just as it seems that Radical politics and technology has reached unstoppable growth, it starts to rot from within..
The “transition” seems to be from fed and clothed to hungry and poor.
Wasn’t this always the Plan?
“You will own nothing. And you will be happy.” – Klaus Schwaab, Head of the billionaires’ club known as The World Economic Forum.
Happy?
He lied, of course.
You will be happy!
Or else…
If we were communist, we’d own (a share of) everything.
But the elites would have a massively bigger share !!
I’m not sure that the WEF’s world revolutionary vision of the “Great Reset” is communist though. It looks and sounds more like global elitist techno-feudalism to me.
But the assets are worthless as the East Germans found out when the wall came down. Somehow a Trabant did not cut against a 5 Series BMW or a nice Merc. An MZ pre-mixed 2 stroke single motorcycle was hardly a match for a BMW flat twin or four either. Tractors designed in the 1950s were not much in demand nor were black and white TVs. So basically all the East German factories closed down and the evidence was there travelling around in all the derelict factories marked ‘VEB’. To make it worse, the West German factories could supply the demand in the East so did not need factories there.
It’s all about crumbling foundations-
Australian climate science built on ‘crumbling foundations’: Author
More here: https://www.science.org.au/news-and-events/news-and-media-releases/australia-needs-a-coordinated-national-institute-to-respond-to-the-changing-climate
…and just when I was coming around to thunkin the science was settled the perfessor goes and pulls the rug out from under me
Market wisdom sees the increasing realization that it’s a scam and subsidies won’t last forever.
Most “green” companies only exist because of subsidies of one kind or another. Once the subsidies expire or are cancelled, these companies immediately become worthless. Naive investors piled into green funds because they thought that they were guaranteed huge returns. Now that the bankruptcies have started, I expect the exodus of money from green funds to become a deluge. With this source of money drying up, the whole green industrial complex will collapse.
It is all very well getting a 5% PA return from a windmill investment but if you lose your capital then you are back to square one or worse. The best investors were those that have cashed out already.
Maybe some financial advisers are beginning to worry about having their clients money in companies that are scam and subsidy reliant.
A good class action by some who have lost money in battery manufacturers or carbon capture companies might get more people to see the folly they have backed.
Most of those would appear to be the taxpayers…
Someone find the means to change the chart colors to OffSWind, OnSWind, Solar, CC, H2 investments and see who is sinking the fastest.
Balance it with coal, oil and gas??
So, people are finally accepting they have been lied to.
Interesting that the bar chart peaks in 2021, the year after the Bidenistas ran their color revolution on the United States of America.
Three words: President Donald Trump.
The grifting is about to end.
“Boeing laid off nearly 400 Washington workers in a second round of job cuts, according to a notice filed Monday with the state’s Employment Security Department.
That’s in addition to the 2,199 layoff notices Boeing delivered to Washington workers last month, bringing the total number of job cuts in the state to nearly 2,600. ”
ESG at play. One man’s loss is another man’s gain. What company’s stock benefitting from this
situation has gone up over the past year? Hint–it’s off shore.
The Boeing Corporation’s problems are much more widespread than ESG.
Airbus Industrie SA
story tip: Cities that were supposed to be underwater already are going to be underwater by 2050? https://www.newsweek.com/map-shows-cities-that-could-go-underwater-sea-level-rise-1996760
“NOAA also includes the rising sea level projections for the New England cities of Bridgeport, Connecticut, Providence, Rhode Island, and Boston, Massachusetts.”
I wonder if anyone has posted a sign at Plymouth Rock?
The beatings will continue until moral improves.
The insanities will continue until excessive damage is incurred.
Torches and pitchforks do not require subsidies.
Until improved moral has been redefined?
“even though many have not underperformed.”
Strange way to look at it. I’d like to see top 10 biggest green fund performance vs S&P for 1Y, 5Y and since inception as part of coverage.