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Hey, Want to Put Your Pension into Green Energy?
Posted By Daniel Greenfield On October 2, 2012 @ 12:44 pm In The Point | 1 Comment
I met a man under the Brooklyn Bridge the other day, he tried to sell me the bridge and when I asked him for an owner’s manual for it, he tried to sell me some green energy in a green reusable bag instead. And when that didn’t work, he told me that he had some renewable carbon credit Rolex watches to show me. I wasn’t buying, but some of the biggies are.
The Asset Owners Disclosure Project started out in Australia, but it’s pushing trying to pressure funds around the world into dumping money into Green Energy. And it’s really going after pension funds.
Now the independent, not-for-profit Asset Owners Disclosure Project (AODP) is asking the world’s largest 1000 asset owners to reveal how they are addressing climate change and the “green economy”.
A related project, The Vital Few, launched in New York overnight, is aimed at getting fund members to join forces and put pressure on fund trustees to shift assets to climate-friendly investments and protect their savings from the risk posed by climate change.
Here is the left at its best and worst, distorting language to suck everyone else into their alternate universe. Instead of sticking to honest terminology, they begin describing conventional investments as “High Risk” and their worthless crony capitalist projects as “Low Risk”.
Suddenly fund managers start thinking that the profitable mining operation is risky because THE OCEANS ARE RISING and it’s time to put money into something safe, like windmills built in areas that hardly see any wind. And you can’t blame them because they’re just monkeys shifting from what they are told are high risk investments to low risk investments. They score social responsibility points and retirees end up washing dishes.
That’s EnviroCapitalism for you.
The AODP wants the funds to disclose information relating to five criteria: transparency, climate risk management, low-carbon investment, active ownership (involvement in the companies they invest in) and investment chain alignment (minimising conflicts of interest).
This is also something to watch for on the left. The left will cloak its agenda by tying in some unrelated transparency and accountability ribbons on their program to get as many disgruntled people on board and make the whole thing seem like an ethnic exercise, instead of the destructive and self-seeking power grab that it is.
The left will use transparency data to build better arguments for its agenda, but it does not care for any of these things and once it takes power then there is zero transparency. See Obama, Barack Hussein. What it wants is the nugget of its ideological program. That is all it cares about. That and total power over all human beings and carbon atoms.
Watching your investments also means watching their responsibility index. The higher they rank on a climate change responsibility index, the more irresponsibly they are being run.
Here is where the true amoral and completely cynical face of the left is revealed. And keep this in mind when the left begins shrieking about Medicare and how willing Republicans are to hurt retirees. This is how much the left cares about retirees.
Given the capital intensive nature of high emitting assets, the finance community will play a crucial role in assessing the optimum path to replace trillions of dollars of high emitting assets with low emitting assets. From the top to the bottom of the investment chain, climate change capability will be perhaps the most important skill a stakeholder possesses and understanding which asset owners do it well and which do it poorly will be critical for millions of retirees whose savings will depend on that capability.
Right. Let’s bankrupt millions of retirees by shoving their money into climate change scams while pressuring companies to “Go Green” in order to get some of that money. A few trillion dollars here and there and it’ll be time for some end of life panels for people who can no longer afford medical care due to the biggest investment scam in human history.
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