It is hard to avoid the strident tones of the promoters of the various climate and “Environmental, Social and Governance (ESG)” schemes.
I know that there are so many fringe-dwellers making a lot of money, but they appear to be incentivised to grind the wheels of modern civilisation to a halt.
The latest COP27 Climate Summit held at Egypt’s luxurious Sharm El Sheikh Resort has taken the “debate” to a new level of absurdity (Get Ready for a Net Zero Business Backlash – Financial Times, Nov 27, 2022) by introducing Climate “Reparations” as a new name for Foreign Aid (Nov. 26, 2022 Wall Street Journal). From the article:
“By last Saturday, the focus had shifted from a goal at which the leading nations were clearly failing to one at which they are past masters: distributing foreign aid to advance their political interests and recycle money to domestic constituencies.
The U.S. and Europe are experts and China is rapidly becoming one. Please refer to the work of the late economist Peter Bauer for the nature of foreign aid. As for talk of trillions to compensate poorer nations for global warming, these words at COP27 were clearly infused with the departed spirit of the zero-interest-rate world that is rapidly disappearing in the rear-view mirror since the global Covid spending blowout.
An organiser of the first U.N. climate conference in 1979, Rockefeller University’s Jesse Ausubel, might have seen this moment coming. By 2007, he had moved on to other subjects, telling interviewer Robert Bryce: ‘I do not think energy policy matters much over the long run. Certainly, diplomats do not reduce greenhouse gas emissions. In general, politicians are pulling on disconnected levers.’”
I am tipping that 2023 will see some of the religious fervour dissipate from the Climate Catastrophists as a few class-actions emerge from investors who are now asking why they should be funding such dubious climate and ESG campaigns.
Even interviewers of climate extremists are recognising that many of the claims are on shaky ground. See for yourself by enjoying the short and snappy mirth demonstrated in the video below:
We await 2023 with great interest.
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