The UN’s climate head warned the world’s investors to heed science, divest from fossil fuel funds, and put that money towards green energy. United Nations Framework Convention on Climate Change (UNFCCC) Executive Secretary Christiana Figueres supported this extraordinary demand with an old green standby: pain of climate doom and gloom. The BBC reports:
“The continued and dangerous rise in greenhouse gases in the atmosphere is in large part the direct result of past investments in energy and mobility systems based on the use of fossil fuels,” Ms Figueres told an audience of investors and corporate leaders in New York with more than $20 trillion in combined assets. […]Ms Figueres argued that investment decisions needed to reflect the science. Climate change, if left unchecked, could devastate the lives, livelihoods and savings of billions of people into the future.
Somebody needs to take a class in Finance 101. If there were brilliant green stock picks out there just waiting to deliver outsized returns, the world’s pension fund managers and investment bankers would be all over them like a chicken on a June bug. And if the UN climate chief doesn’t have any more practical ways to address carbon emissions than to call on accountants to declare the world’s oil reserves worthless to keep people from investing in conventional energy companies, then she needs to take a nice long rest.The more one examines the irrational outbursts and utopian schemes of these so-called green leaders, the clearer it becomes that the leading causes of climate skepticism are dumb green ideas and the self-dramatizing shenanigans of clueless green leaders. If some of these misguided green leaders are serious about solving global problems rather than posturing, the best thing they could do for a while would be to shut up and think. And they might want to take a look at some of the ideas coming from places like the Breakthrough Institute and people like Bjorn Lomborg. Their voices matter far more to the future of our environmental well-being than the mainstream green movement.