Professional investment fund managers, including those managing university endowments and public pension funds, are being increasingly pressured to adopt so-called “sustainable investment” policies, such as investing the funds entrusted to them in renewable energy projects or divesting from fossil fuels.
A long-time friend, Paul Driessen, has powerfully argued giving in to the siren call of sustainable investment is morally fraught and is devastating to the poor in developing countries. Speaking on a panel discussing sustainability and sustainable investment at The Heartland Institute’s 12th International Conference on Climate Change in 2017, Driessen argued the sustainability movement is currently the greatest threat to continued human progress, especially to raising billions of people in developing countries out of poverty, because sustainability advocates focus all their attention on the potential harms of fossil-fuel use and new innovations, like genetically modified medicines and crops, while ignoring the tremendous benefits they provide.
As a result, Dreissen said, sustainability and sustainable investment policies “are not just wrong: They are unethical and unsustainable. They insult human dignity, reduce human living standards and lifespans, … are inhumane, eco-imperialistic, and even genocidal. True sustainable development … allows people freedom to use technologies and practices that conserve resources, reduce waste and pollution, and ensure current generations maintain their living standards in industrialized nations and have the energy and resources needed in poor countries to end the poverty, disease, and malnutrition that for too long have made life there nasty, brutish, and short.”..........To Read More.....
IPCC SPECIAL REPORT FAILS SCIENTIFICALLY
Prominent meteorologist J. Ray Bates has written a detailed critique of the Intergovernmental Panel on Climate Change’s (IPCC) October 2018 Special Report which claims climate change is proceeding more rapidly than previously estimated, and that to avoid catastrophic changes, governments must radically transform the world’s economy to achieve zero carbon dioxide emissions by 2050.
In “Deficiencies in the IPCC’s Special Report on 1.5 Degrees,” Bates writes, “Given the extremely costly and highly disruptive changes this course of action would entail, the rigor of the underlying scientific case should be beyond question.”
Bates says the special report fails to exhibit scientific rigor, ignoring data and lines of evidence indicating no climate catastrophe is in the offing, with current changes in climate and temperature being within the historic range of natural variability........ More Here.....
CHINA RAMPS UP COAL, PULLS PLUG ON SOLAR, WIND
China has backtracked on policies implemented to increase solar power, announcing it would not approve any wind and solar power projects unless they can compete with coal power plants strictly on the basis of price.
Under a plan announced in May 2018, the Chinese government had granted large solar power projects a per-kilowatt-hour (kWh) subsidy. The government is cancelling that subsidy for new projects immediately.
In addition to cost considerations, the government said the rapid expansion of wind and solar power had created logjams on the electric power grid, resulting in wasted electricity due to lack of capacity to transmit and distribute the rapidly fluctuating power. In 2017, capacity issues resulted in 12 percent of wind generation and 6 percent of solar electricity generated being wasted.......More Here...
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