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Asset managers are ignoring the “science” of climate and continuing to fund fossil fuels! – Is it good?


David Middleton’s “You Can’t Fix Stupid” Guest

ESG AND GREEN ENTERPRISES
The global wealth management giant has $82 billion in coal projects, $468 billion in oil and gas projects.
WED PUBLISHED, APRIL 20, 2022

Catherine Clifford

Massive global asset managers are still pouring tens of billions of dollars into new coal projects and hundreds of billions of dollars into major oil and gas companies.

That’s according to a Wednesday report from Get financial backan organization that discloses financial sector investments in fossil fuels.

Report, titled “Asset managers fuel climate chaos,” found that a total of 30 asset managers have $82 billion in companies developing new coal projects and $468 billion in 12 major oil and gas companies.

“Is the wealth management industry changing its investment practices in line with climate science, reducing investments in coal, oil, or expanding gas? Unfortunately, the answer is “no,” said Lara Cuvelier of Reclaim Finance in a statement released with the report. “Top asset managers are launching the attack without asking companies to stop exacerbating the climate crisis.”

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CNBC

This bit is priceless…

“Is the wealth management industry changing its investment practices in line with climate science, reducing investments in coal, oil, or expanding gas? Unfortunately, the answer is “no,” said Lara Cuvelier of Reclaim Finance in a statement released with the report. “Top asset managers are launching the attack without asking companies to stop exacerbating the climate crisis.”

CNBC

How could one be so stupid as to think that asset management decisions should be based on climate “science”?

Facts are not based on “scientific” climate

EIA of Year 2021 International Energy Outlook are also ignoring the “science” of climate…

October 6, 2021
EIA projects promote renewable consumption and stable liquid fuel growth through 2050

Today we released International Energy Outlook 2021 (IEO2021). In the IEO2021 Reference Case, assuming applicable laws and regulations, we predict that strong economic growth and a growing population will drive an increase in energy-related carbon dioxide emissions global and energy consumption through 2050. Much of the increased energy consumption will be met with liquid fuels and renewable energy sources. Emerging coal-fired and natural gas production technologies as well as battery use will also drive increased consumption.

Some of the key findings of IEO2021 include:

If current technology and policy trends continue, global energy consumption and energy-related carbon dioxide emissions will increase through 2050 as a result of population and economic growth.
The industrial and transportation sectors will mainly drive the increase in energy consumption. Electric vehicle sales will increase through 2050, leading to a peak in internal combustion engine vehicle fleets in 2023 for OECD member countries and in 2038 globally. bridge. Despite the expected growth in electric vehicle sales, continued growth in energy consumption will drive global energy-related carbon dioxide emissions up to 2050 by case Reference Our IEO2021.

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Main Contributors: Michelle Bowman

EIA

As an “additional bonus”, the EIA now forecasts that energy coal consumption will surpass its 2014 peak thought to be in 2043…

It is also forecast that fossil fuels will continue to be the world’s dominant primary energy source for decades to come.



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