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Re: Savor John Kerry's Bitter Tears: Trillions in Assets Backing Out of UN-Backed Climate Action 100+ Group
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Kerry's Bad Discharge
Feb 17, 2024, 3:16:11 AM2/17/24
to
On 15 Mar 2022, Rudy Canoza <notg...@gmail.com> posted some
news:Da5YJ.222987$t2Bb....@fx98.iad:
> Ha! Ha! Kerry's climate bullshit stunk just like the day he slimed
> back into the US from 'nam. No wonder he resigned.
WHOA, DAWG.
That sound you hear is the beginning of the implosion of the Climate
Action 100 group, a cabal of some of the largest investment firms on
Earth. They are dedicated to enforcing and monitoring the companies they
invest in to force them to focus on and execute strategies to achieve
the climate cult's greenhouse gas goals. In other words, if you don't
follow the Green initiative dictates for carbon reduction, etc you don't
receive your financing from these people.
Climate Action 100+ was launched in December 2017 at the One Planet
Summit, hosted by the French government. Since then it has grown into
the largest ever investor engagement initiative on climate change.
...Climate Action 100+ is an investor initiative to ensure the world’s
largest corporate greenhouse gas emitters take necessary action on
climate change.
I got a screenshot of their home page because the above numbers are
going to have to be adjusted as of yesterday. In a further sign that the
nuts of NetZero are being cracked and discarded, there was some pretty
stunning news about the 900-pound, ESG-happy investment thugs who
populate this club.
A bunch of them quit, one after the other, and man. Did they take a
buttload of money with them when they walked out.
The first pair of shoes out the door belonged to Jamie Dimon's JP
Morgan. They're taking $3T+ with them as they exit, saying they can
handle the business of global warming solutions just fine on their own,
thank you.
JPMorgan Asset Management (JPMAM) has withdrawn from Climate Action
100+, a climate-focused investor network focused on engaging with
companies to reduce their greenhouse gas emissions and implement climate
transition plans.
According to a statement from a JPMAM spokesperson, the firm’s decision
follows the development of its internal engagement capabilities,
allowing the company to act on its own.
The spokesperson said:
“J.P. Morgan Asset Management (JPMAM) is not renewing its membership in
Climate Action 100+in recognition of the significant investment it has
made in its investment stewardship team and engagement capabilities, as
well as the development of its own climate risk engagement framework
over the past couple of years.”
It's also a pretty strategic move on their part, not to mention a sign
that the actions of Republican state attorneys general and governors,
plus the GOP congress, are starting to pay big dividends. These purely
ESG/climate change fund groups make big targets. While they enjoyed
lording it over their captive clients while they could, Dimon and his
buddies want no part of being under any more government scrutiny than
necessary. So they are pulling chocks.
...Launched in 2017, Climate Action 100+ is an investor initiative that
has targeted the world’s largest corporate greenhouse gas (GHG) emitters
to promote taking necessary action on climate change, and align their
business strategies with net zero in order to help limit average global
temperature rise to 1.5 degrees Celsius. The network has grown to
include more than 700 investors representing more than $68 trillion in
assets.
The group, however, has also become a key target for anti-ESG
politicians, and fueling claims that its members are “boycotting” energy
companies. Last year, a group of U.S. Republican state attorneys general
sent a letter to large asset managers warning that participation in
groups such as CA100+ raised concerns about the investors’ adherence to
fiduciary duties and compliance with anti-trust rules.
State officials who were all part of the action had a few measured, but
kind words for JP Morgan.
...Texas Attorney General Ken Paxton applauded the news, saying
financial companies had undertaken an "unlawful" campaign to force
environmental, social and corporate governance on customers.
"I'm pleased JPMorgan has exited the Climate Action 100+," Paxton said
on X, the former Twitter. "This is a critical step toward putting
customers' financial well-being first."
Those words, I'm sure, gave the next company who was already behind JP
Morgan as they went out the door a warm fuzzy that, climate cultists
aside, this was the right decision for the business.
... A second large asset manager, State Street Global Advisors, with
$3.7 trillion, also dropped out, saying Climate Action's approach "will
not be consistent with our independent approach to proxy voting and
portfolio company engagement," according to a statement.
You'll never guess who "scaled back" next - only the ESG arch-villain
themselves.
Yeah. Blackrock.
Larry "Have to Force Behavioral Changes" Fink's company. THIS execrable
narcissist.
Blackrock pulled their U.S. division out, leaving a smaller European
cohort in place.
Bond manager PIMCO withdrew from Climate Action 100+ first thing this
afternoon. It's kinda looking like a stampede for the corral door, huh?
The Florida Agriculture Commissioner was taking a victory lap today. He
was part of the concerted effort of the state of Florida along with ten
others to bring pressure on these firms.
Florida Agriculture Commissioner Wilton Simpson celebrated massive
banking organizations exiting or intensely scaling back involvement in a
United Nations climate group Friday.
Simpson was among 11 other agriculture commissioners nationwide who
demanded “accountability” from banks for left-wing, environmental social
governance practices, or ESG.
...“I was proud to stand with 11 other state agriculture commissioners
demanding accountability from America’s largest banks over their
commitments to left-wing, anti-agriculture, ESG-driven, and
anti-consumer climate policies,” Simpson said.
“If these banks had their way, they would unilaterally force America’s
farmers and ranchers – through the threat of withholding capital and
financing – to adopt ‘green’ infrastructure, technology, and equipment,”
he said. “We will not stand idly by and allow unelected individuals and
woke institutions to make unchecked decisions that would intentionally
cripple American agriculture and threaten our food security and national
security.”
Simpson makes the point about ESG firms shutting farmers down for not
adhering to NetZero farming standards by cutting off their access to
capital.
There's another potentially huge reason these firms are suddenly
reluctant to continue as climate tyrants - the return on their clients'
investments. Whatever their penchant of the moment, these are
"investment" firms, and as such, they have a fiduciary duty first to
their clients - not to Greta Thunberg or Davos. With as many disastrous
Green schemes as there have been losing money hand over fist, including
the ruinously expensive strictures these firms require those seeking
their capital to abide by, have JP Morgan, etc., done their fiduciary
duty by their investors?
Asset managers are tasked with optimizing investments, not indulging in
advocacy.
Their sojourn into Green governance could very well cost them dearly
soon, and it could be the lesson they need to keep their more
authoritarian tendencies in check.
This is pretty terrific.
The Green walls will come crumblin', tumblin' down.
https://hotair.com/tree-hugging-sister/2024/02/16/savor-john-kerrys-bitte
r-tears-trillions-in-assets-backing-out-of-un-backed-climate-action-100-g
roup-n3783076
news:Da5YJ.222987$t2Bb....@fx98.iad:
> Ha! Ha! Kerry's climate bullshit stunk just like the day he slimed
> back into the US from 'nam. No wonder he resigned.
WHOA, DAWG.
That sound you hear is the beginning of the implosion of the Climate
Action 100 group, a cabal of some of the largest investment firms on
Earth. They are dedicated to enforcing and monitoring the companies they
invest in to force them to focus on and execute strategies to achieve
the climate cult's greenhouse gas goals. In other words, if you don't
follow the Green initiative dictates for carbon reduction, etc you don't
receive your financing from these people.
Climate Action 100+ was launched in December 2017 at the One Planet
Summit, hosted by the French government. Since then it has grown into
the largest ever investor engagement initiative on climate change.
...Climate Action 100+ is an investor initiative to ensure the world’s
largest corporate greenhouse gas emitters take necessary action on
climate change.
I got a screenshot of their home page because the above numbers are
going to have to be adjusted as of yesterday. In a further sign that the
nuts of NetZero are being cracked and discarded, there was some pretty
stunning news about the 900-pound, ESG-happy investment thugs who
populate this club.
A bunch of them quit, one after the other, and man. Did they take a
buttload of money with them when they walked out.
The first pair of shoes out the door belonged to Jamie Dimon's JP
Morgan. They're taking $3T+ with them as they exit, saying they can
handle the business of global warming solutions just fine on their own,
thank you.
JPMorgan Asset Management (JPMAM) has withdrawn from Climate Action
100+, a climate-focused investor network focused on engaging with
companies to reduce their greenhouse gas emissions and implement climate
transition plans.
According to a statement from a JPMAM spokesperson, the firm’s decision
follows the development of its internal engagement capabilities,
allowing the company to act on its own.
The spokesperson said:
“J.P. Morgan Asset Management (JPMAM) is not renewing its membership in
Climate Action 100+in recognition of the significant investment it has
made in its investment stewardship team and engagement capabilities, as
well as the development of its own climate risk engagement framework
over the past couple of years.”
It's also a pretty strategic move on their part, not to mention a sign
that the actions of Republican state attorneys general and governors,
plus the GOP congress, are starting to pay big dividends. These purely
ESG/climate change fund groups make big targets. While they enjoyed
lording it over their captive clients while they could, Dimon and his
buddies want no part of being under any more government scrutiny than
necessary. So they are pulling chocks.
...Launched in 2017, Climate Action 100+ is an investor initiative that
has targeted the world’s largest corporate greenhouse gas (GHG) emitters
to promote taking necessary action on climate change, and align their
business strategies with net zero in order to help limit average global
temperature rise to 1.5 degrees Celsius. The network has grown to
include more than 700 investors representing more than $68 trillion in
assets.
The group, however, has also become a key target for anti-ESG
politicians, and fueling claims that its members are “boycotting” energy
companies. Last year, a group of U.S. Republican state attorneys general
sent a letter to large asset managers warning that participation in
groups such as CA100+ raised concerns about the investors’ adherence to
fiduciary duties and compliance with anti-trust rules.
State officials who were all part of the action had a few measured, but
kind words for JP Morgan.
...Texas Attorney General Ken Paxton applauded the news, saying
financial companies had undertaken an "unlawful" campaign to force
environmental, social and corporate governance on customers.
"I'm pleased JPMorgan has exited the Climate Action 100+," Paxton said
on X, the former Twitter. "This is a critical step toward putting
customers' financial well-being first."
Those words, I'm sure, gave the next company who was already behind JP
Morgan as they went out the door a warm fuzzy that, climate cultists
aside, this was the right decision for the business.
... A second large asset manager, State Street Global Advisors, with
$3.7 trillion, also dropped out, saying Climate Action's approach "will
not be consistent with our independent approach to proxy voting and
portfolio company engagement," according to a statement.
You'll never guess who "scaled back" next - only the ESG arch-villain
themselves.
Yeah. Blackrock.
Larry "Have to Force Behavioral Changes" Fink's company. THIS execrable
narcissist.
Blackrock pulled their U.S. division out, leaving a smaller European
cohort in place.
Bond manager PIMCO withdrew from Climate Action 100+ first thing this
afternoon. It's kinda looking like a stampede for the corral door, huh?
The Florida Agriculture Commissioner was taking a victory lap today. He
was part of the concerted effort of the state of Florida along with ten
others to bring pressure on these firms.
Florida Agriculture Commissioner Wilton Simpson celebrated massive
banking organizations exiting or intensely scaling back involvement in a
United Nations climate group Friday.
Simpson was among 11 other agriculture commissioners nationwide who
demanded “accountability” from banks for left-wing, environmental social
governance practices, or ESG.
...“I was proud to stand with 11 other state agriculture commissioners
demanding accountability from America’s largest banks over their
commitments to left-wing, anti-agriculture, ESG-driven, and
anti-consumer climate policies,” Simpson said.
“If these banks had their way, they would unilaterally force America’s
farmers and ranchers – through the threat of withholding capital and
financing – to adopt ‘green’ infrastructure, technology, and equipment,”
he said. “We will not stand idly by and allow unelected individuals and
woke institutions to make unchecked decisions that would intentionally
cripple American agriculture and threaten our food security and national
security.”
Simpson makes the point about ESG firms shutting farmers down for not
adhering to NetZero farming standards by cutting off their access to
capital.
There's another potentially huge reason these firms are suddenly
reluctant to continue as climate tyrants - the return on their clients'
investments. Whatever their penchant of the moment, these are
"investment" firms, and as such, they have a fiduciary duty first to
their clients - not to Greta Thunberg or Davos. With as many disastrous
Green schemes as there have been losing money hand over fist, including
the ruinously expensive strictures these firms require those seeking
their capital to abide by, have JP Morgan, etc., done their fiduciary
duty by their investors?
Asset managers are tasked with optimizing investments, not indulging in
advocacy.
Their sojourn into Green governance could very well cost them dearly
soon, and it could be the lesson they need to keep their more
authoritarian tendencies in check.
This is pretty terrific.
The Green walls will come crumblin', tumblin' down.
https://hotair.com/tree-hugging-sister/2024/02/16/savor-john-kerrys-bitte
r-tears-trillions-in-assets-backing-out-of-un-backed-climate-action-100-g
roup-n3783076
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