The new proposal for a separate energy and carbon audit — distinct from the financial audit and conducted by a different professional body — not only imposes further costs on businesses, but also creates a green profession focused on monitoring the requirements of the Streamlined Energy and Carbon Reporting Regulations. Since these are supported by criminal sanctions this is sinister and unwelcome development.
Beck: "I want to invest in this company, it's a gun company oh they've got an ESG score of two. Well I don't care because I believe that's going to go up. But it doesn't matter. You're not doing it for that anymore you're not doing it to make money, you're doing it for the overall good of society this is the end of capitalism." ... "It doesn't matter that these companies might be worth more we think the investment should go to these companies because they're socially woke. When that happens, the stock market means nothing, nothing because it is basically at the barrel of a gun the government and the big businesses have decided who's going to get the money."
Read the fabulous Ben Zycher‘s even more fabulous House testimony on the ongoing climate communist bid to convert corporate America into useful idiots via ESG (Environmental Social and Governance), which used to be called CSR (Corporate Social Responsibility).
Zycher to Congress: "The campaign for ESG (Environmental, Social, & Governance Responsibility) investment and disclosure is a blatant effort to use private-sector resources for ideological purposes, in the context of the unwillingness of the Congress to enact such policies as an outcome of the legislative bargaining process." ...
“Sustainability” is poorly defined, so that its objectives are limitless, and the Memorandum fails to tell us how to evaluate the inexorable tradeoffs among them and with the traditional business objective of value maximization." ...
"One could easily imagine that such self-protective “disclosures” might run thousands of pages, with references to thousands more, and the idea that this “disclosure” requirement would facilitate improved decision making by investors is difficult to take seriously."
The Securities and Exchange Commission today announced the creation of a Climate and ESG Task Force (Environmental, Social, & Governance Responsibility) in the Division of Enforcement. ... Consistent with increasing investor focus and reliance on climate and ESG-related disclosure and investment, the Climate and ESG Task Force will develop initiatives to proactively identify ESG-related misconduct. The task force will also coordinate the effective use of Division resources, including through the use of sophisticated data analysis to mine and assess information across registrants, to identify potential violations. The initial focus will be to identify any material gaps or misstatements in issuers’ disclosure of climate risks under existing rules. The task force will also analyze disclosure and compliance issues relating to investment advisers’ and funds’ ESG strategies.
CNN: France is set to ban short domestic flights in favor of train services, after lawmakers approved a plan that will see several air routes discontinued to reduce emissions. MPs voted late on Saturday to some suspend some flights by domestic airlines that can be made by train in less than two-and-a-half hours, as part of a wider climate bill. If the bill passes through France's upper house, the Senate, France will join a number of European countries seeking to move away from short flights. ... Left-wing MP Danièle Obono said the government's plan to move away from a four-hour limit would "save the three routes that emit the most greenhouse gas: Paris-Nice, Paris-Toulouse, (and) Paris-Marseille." ... Last year, Austria's flagship airline was ordered to replace one of its flights with a more frequent train service, in order to meet the environmental criteria of its government bailout.
Climate Depot's Morano: "You were warned! How long until the climate demands include the banning of private automobile travel when mass transit is available?"
Pierre L. Gosselin of the No Tricks Zone reacts: "USA morphing into communist East Germany! Back then citizens required to apply for a "Ausreisegenehmigung" (permission to travel abroad) if they wanted to travel out of country. Now it's to be taken a step further by new Marxists: Even domestic travel has to be permitted!"
Lindzen & Happer: "Crusaders will continue to retort that “the science is settled; it is time to act!” But real science is never settled, nor is scientific truth determined by consensus or political diktats. Agreement with observations is the measure of scientific truth." ... "The frenzy over climate resembles the medieval crusades against foreign infidels and home-grown heretics. There is even a children’s climate crusade." ...
"We are both scientists who can attest that the research literature does not support the claim of a climate emergency. Nor will there be one. None of the lurid predictions — dangerously accelerating sea-level rise, increasingly extreme weather, more deadly forest fires, unprecedented warming, etc. — are any more accurate than the fire-and-brimstone sermons used to stoke fanaticism in medieval crusaders." ...
"So far, climate crusaders have refrained from vilifying water vapor and clouds, which make the largest contribution to greenhouse warming of the earth. Carbon dioxide, demonized as “carbon pollution,” is an improbable villain." ... "More carbon dioxide is likely to cause some surface warming. But the warming would be small and benign. In fact, history shows that warmings of a few degrees Celsius — which extended growing seasons — have been good for humanity. The golden age of classical Roman civilization occurred during a warm period. Cooling periods, which were accompanied by barbarian invasions, famines, and plagues, have been bad. Neither contemporary observations nor the geological record support computer-based claims that CO2 is the “control knob” for the earth’s climate."
Analyst Vijay Jayaraj commented: "Where is the climate disorder? What parameters are we talking about? Which Index is he referring to? Is it agriculture success? cumulative increase in Freshwater access? is it poverty reduction? And May I know when the climate was in order? or static?"
Green energy author Rupert Darwall: "Climate disorder ... that's a good one from Macron. Any notable weather event can now be ascribed as evidence of climate disorder, as if once upon a time, the climate was orderly."