JoNova

A science presenter, writer, speaker & former TV host; author of The Skeptic's Handbook (over 200,000 copies distributed & available in 15 languages).


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HSBC Chief who said investors don’t need to worry about Climate Risk – gets support from thousands and resigns

Big Money, Stratospheric spending.Remember Stuart Kirk, head of “responsible” investing at HSBC who was suspended  when he pointed out that climate risks were distant, irrelevant hyperbole? This was at once shocking impermissible and the bleeding obvious. He also dropped the bombshell that the central banker models of climate risks buried massive GDP shocks and interest rate rises so they could find the economic disasters they were looking for.

Thanks to the Streisand Effect of his suspension for a 16 minute speech, tens of thousands of people wrote to him to agree. But despite being such a drawcard HSBC didn’t appreciate his new popularity, and he has now resigned under duress. His letter says all the right things below. He’s a man to follow…

h/t Tallbloke

Stuart has now resigned his post, and issued this statement:

Today I wish to announce that I have resigned as global head of responsible investing at HSBC Asset Management.

Ironically given my job title, I have concluded that the bank’s behaviour towards me since my speech at a Financial Times conference in May has made my position, well, unsustainable.

Funny old world.

Over a 27-year unblemished record in finance, journalism and consulting I have only ever tried to do the best for my clients and readers, knowing that doing so helps my employer too.

Investing is hard. So is saving our planet. Opinions on both differ. But humanity’s best chance of success is open and honest debate. If companies believe in diversity and speaking up, they need to walk the talk. A cancel culture destroys wealth and progress.

There is no place for virtue signalling in finance. Likewise as a writer, researcher and investor, I know that words or trading shares can only achieve so much. True impact comes from the combination of real-world action and innovative solutions.

Which is why I’ve been gathering a crack group of like-minded individuals together to deliver what is arguably the greatest sustainable investment idea ever conceived. A whole new asset class. Sounds fanciful – but I am not one for hyperbole, as viewers of my presentation know well.

To be announced later this year, the first project will underline the central argument in my speech: that human ingenuity can and will overcome the challenges ahead, while at the same time offering huge investment opportunities.

Meanwhile, I will continue to prod with a sharp stick the nonsense, hypocrisy, sloppy logic and group-think inside the mainstream bubble of sustainable finance. Follow me on LinkedIn if you want to learn the right way to think about ESG – and let me tell you, most of what’s out there is bonkers.

Finally, can I take this opportunity to thank the tens of thousands of people – from chief executives and congressmen to scientists and mom and pop investors – who contacted me from around the world offering their support and solidarity over the past two months.

You have given me strength during what has been a tumultuous time for me and my family. It is for you that the next chapter in my career will be devoted. Please forward this to anyone you know who cares about money and planet earth.

Stuart

A speech so good he was sacked: HSBC head says investors don’t need to worry about “Climate Risk”

That dangerous speech again.

9.7 out of 10 based on 83 ratings

134 comments to HSBC Chief who said investors don’t need to worry about Climate Risk – gets support from thousands and resigns

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      ExWarmist

      When I read this, “Follow me on LinkedIn if you want to learn the right way to think about ESG – and let me tell you, most of what’s out there is bonkers.”

      I thought the exact same thing.

      LinkedIn doesn’t tolerate divergent thought.

      301

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      David Maddison

      Agreed. LinkedIn is not for free and independent thinkers.

      You know who owns LinkedIn?

      Microsoft.

      271

      • #
        Ian

        [SNIP]

        [People who have 2,200+ comments published here don’t get to hijack the nesting at #1.1 to complain absurdly “this site is an echo chamber”. Nor can they meaningfully complain that standards of debate here are low while they, themselves are the one lowering the standards by hijacking threads at #1 with baited, insulting and self-evidently silly claims. To other commenters, please don’t respond to junk comments that nakedly “fish” for angry replies. Ask the mods, and we will remove it. – Jo]

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        • #
          ExWarmist

          My use of reason and direct original source data has led me to a position at odds with the dominate narratives propagated by the neo-fascist corporate state cartels operating western civilization.

          If you wish to align yourself with the predatory parasitic monopolistic capitalists who have co-opted Marxism and repackaged it for sale to the gullible lower classes (where you’ll own nothing and ‘be happy’) while the ultra-capitalist billionaires consolidate ownership and control of everything (and rent it back to you).

          Feel free to so align yourself.

          Personally, I prefer to avoid abrogating all responsibility for my intellectual and moral choices to a self-appointed technocratic elite whose hubris risks all our lives. Of course if you find holding yourself accountable for your own intellectual and moral choices too onerous – feel free to delegate responsibility up the hierarchy to your social superiors.

          They will gladly take such choices out of your hands while delegating accountability for your conformity to their dictates to you.

          If your future slavery ever irks you, at least you can volunteer to become a death camp guard and take out your frustration on non-conformists.

          210

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          Kalm Keith

          “most who post”.

          Good rhyming their.

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          David Maddison

          Ian this site is for independent thinking people.

          Most others fit in the following category as described here:

          Governments don’t want an intelligent population because people who can think critically can’t be ruled. They want a public just smart enough to pay taxes and dumb enough to keep voting for them.

          Are you an independent thinker or…..?

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          RobB

          Well you’re here. Jo hasnt kicked you off the site. You havent been cancelled. You’re free to express your pov. Thats not the case on Twitter, Youtube, Whatsapp, LinkedIn etc. Why be surprised when people who are not allowed to express their thoughts on those sites end up on a site that does allow free speech? So what are you complaining about? Free speech? People that disagree with you? What do you want to do – ban them for not having “free and independent thought”?

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            another ian

            ” ban them for not having “free and independent thought”?”

            You might ban them but they’ll still have that free and independent thought and communicate by samizdat if needed

            11

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          yarpos

          Tis sad one feels that way, one wonders why one reads here then.

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    Looks like things might work out well in the end and all for the good after all. HSBC’s loss is the ‘Freedom of Speech’ and ‘Common Sense’ World’s gain.

    He had to resign as he owed a Fiduciary Duty to those investors that he was looking after at HSBC a la Responsible Investing. Now we know that HSBC hasn’t a clue as to what proper ‘Responsible Investing’ is all about. Thanks Stuart.

    As he says, he can now set up a new Investment Group (with others who are like minded) with the aim of delivery proper ‘Responsible Investing’.

    I will follow all of this with a very keen interest and I’m sure that many others will do too especially looking at the tremendous support that he has been getting.

    Thanks Stuart and Good Luck to you all.

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      RickWill

      The problem is that governments can choose winners and losers.

      The Bank of England has issued a number of green gilts recently. The first issue was oversubscribed 10-fold:

      LONDON, Sept 21 (Reuters) – Britain sold 10 billion pounds of its first ‘green’ government bond on Tuesday after attracting over 100 billion pounds ($137 billion) of demand from investors, a record high that shows the clamour for assets that can be marketed as good for the planet.

      This investment is guaranteed a return. But it is aimed at all the mal-investment in Net Zero for the UK. So government is ensuring people who invest in all this green stuff will get a good return while saving the planet. Meanwhile the rest of the world is buying this rubbish in large doses. UK’s current account deficit in Q12022 was 18% of GDP; that is going backwards at about twice the rate of Colombia.

      Investing in coal mining in the UK or fracking for gas is an absolute waste of money. There will be academics burning themselves or gluing themselves to roadways in protest. Project proponents will be mired in legal cases spending big money doing nothing.

      The demonising of CO2 in the UK is comprehensive. They have been brainwashed.

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        Mike Jonas

        The government is guaranteeing a return on a green investment??? How dare they! The poor wretched taxpayer is the one who ends up paying. So it’s yet another vehicle to transfer money from the prudent to the reckless.

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          RickWill

          What I cannot understand is that GBP has lost 60% against the Russian RUB, one of the best energy backed currencies, since March and green gilts offer 2.3% pa.

          If you buy RUB with GBP you will make a return of 2.3% every week. Maybe Stuart intends to buy RUB in his new investment fund.

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            Vladimir

            In my youth $1 US was officially exchanged for 0.4 Soviet rouble. On the black market it costs 4-5 roubles (and few years in camps if you were caught) Today it is the same situation – Rouble is no longer convertible currency,
            CBR (Russian reserve bank) nominates the exchange rate, full stop.

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        The trouble is, is that Governments usually pick losers. Any winners are very rare and the losers gobble up endless amounts of taxpayer and/or borrowed money.

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      Ted1

      I didn’t see where this one finished up. It wasn’t going well when last I saw it.

      https://www.science.org/content/article/how-culture-clash-noaa-led-flap-over-high-profile-warming-pause-study

      00

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    bobby b

    If his new investment philosophy centers on investing in oil-and-gas producers, I’m all in. I think that’ll be the contrarian bet of the century.

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      James Murphy

      If the various announcements are right, there will be a significant increase in deepwater oil & gas exploration and development over the next few years. this is far from cheap, and the capital has to come from somewhere…

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      b.nice

      Not to mention COAL, the rock-solid base of all industrial economic civilisations. !

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    Phillip Bratby

    This is what the Biased Broadcasting Corporation said back in May: https://www.bbc.co.uk/news/business-61519111

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      rowjay

      Taken from the BBC article:

      In the address he made light of the risks of major floods and said that he had to spend his time “looking at something that’s going to happen in 20 or 30 years”.

      A prime example of responsible investing in what appears to be the coming prolonged flood-dominated cycle for SE Australia is to stop housing development on all flood-prone land and find alternative locations. Even climate alarmists say there will be more intense floods.

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    AndyHce

    Guess who is next to be permanently banned from LinkedIn.

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      b.nice

      i removed myself from that leftist anti-science enclave ages ago !

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      Gary S

      When the village is finally taken over by the idiots, the only remaining sane man will be pointed out with derision until he himself is called the idiot.

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    And as I have said quite a few times before, all that Humans need do with all of this Climate Change stuff is to do what Mother Nature does and that is to adapt. A heck of a lot cheaper and more effective in the long run. In his presentation at that Conference (the You Tube video above), he mentions that Humans have been very good at adapting throughout history. And of course, he is 100% spot on.

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      David Maddison

      That’s fine but there is nothing much to adapt to as their is no significant climate change outside natural variability although real change when it happens is likely to be significant cooling which will be a big problem adapting to without a useable energy supply.

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        Sceptical+Sam

        Even there David, people will adapt.

        They’ll clear out their blocked chimneys, they’ll install fireplaces, and vote out those politicians who seek to make staying warm illegal.

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    Erasmus

    “I didn’t expect the Spanish Inquisition”.
    But it’s here.

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    David Maddison

    Sorry if I missed something, what is “ESG” he referred to?

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      Graeme No.3

      Given the failure of so many “predictions” by climate “scientists” I would suggest it stands for Extremely Stupid Guess.

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      SteveS

      What is ESG (Environmental, Social, and Governance)?
      ESG is an acronym for Environmental, Social, and Governance. ESG takes the holistic view that sustainability extends beyond just environmental issues.

      ESG is best characterized as a framework that helps stakeholders understand how an organization is managing risks and opportunities related to environmental, social, and governance criteria.

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      Vlad the Impaler

      Trying to remember: I think it stands for “environmental, social, and governance”. It is something (I think) instituted in China, and if your ‘score’ on the three aspects is in the ‘acceptable’ range, you are a person. If anything is out of the ‘acceptable’ range, then you are an un-person. The government looks at your social media posts and what-not, and decides if you are ‘person’ or ‘un-person’.

      I welcome correction to the above; I do not do any of the so-called ‘social’ media stuff, so I have limited knowledge of how this works (in theory). All I really know is that I am, for all practical purposes, an ‘un-person’, but it is by my choice.

      I’m doing my best to remain an ‘un-person’.

      Hope that helps,

      Vlad

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        David Maddison

        Thanks Vlad. I remember now.

        https://www.investopedia.com/terms/e/environmental-social-and-governance-esg-criteria.asp

        Environmental, social, and governance (ESG) criteria are a set of standards for a company’s behavior used by socially conscious investors to screen potential investments. Environmental criteria consider how a company safeguards the environment, including corporate policies addressing climate change, for example. Social criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. Governance deals with a company’s leadership, executive pay, audits, internal controls, and shareholder rights.

        SEE LINK FOR REST

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          And in a word, ESG is supposed to be all about ‘Sustainability’. LOL. What a load of codswallop.

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          DOC

          How can they say ‘social’ when the results of all the foolishness is destruction of western economies. Is that ‘social’ advancement?

          The forgotten part of ‘social’ is those that perpetrate this stuff consider the world is overpopulated, so losing a billion or two due to shutting down modern, efficient energy systems that happily sustain ~8billion on the planet doesn’t concern them. They can’t cope with the fact the earth is now greening ie is more than just sustaining the status quo, so they never mention it. It’s against the gloom and doom that has to be predicted and upheld by businesses and governments that have grossly overcommitted to AGW and cannot face the eternal shame that will come their way due to lies and wasted resources, and probably brought war back to the planet.

          As to too much N2 in the soils, what do they think crops do when they convert it to food? Or is this argument an attempt to prevent urea fertiliser being produced and used elsewhere on the planet where there is very little N2 in the soils, as in WA. Nitrogen is essential to feed the world. The climate activists and others activist in other parts of condemning our societies probably see food abundancy as another huge negative to their arguments.

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      Gary S

      Appears as if ‘WOKE’ is now spelt E-S-G.

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    b.nice

    The risks from “climate” have not changed one iota in more than 100 + years.

    In fact, these risks have almost certainly dropped by a couple of magnitudes due to human invention…

    The big risk for economies now, is from ridiculous and foolish “climate change action”

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      Graeme No.3

      The biggest risk is believing the predictions of doom.
      The year 1524 was full of predicted disaster. A “giant flood” was prophesied for February 1524 by astrologer Johannes Stoeffler;
      based on a coming conjunction of major planets in that year, and the general belief in a universal final deluge became widely held as “settled science” as more than one hundred pamphlets were published supporting this prediction.
      Astrologers predicted that THE END would begin in London with a deluge. Some 20,000 persons left their homes, and the Prior of St. Bartholomew’s built a fortress in which he stocked enough food and water for a two-month wait. When the dreaded date failed to provide even a rain shower in a city, the astrologers hurriedly recalculated and discovered they’d been one hundred years off.

      In response to the prophecies being “settled science”, people in Europe set about building boats or in some ports, taking refuge on boats at anchor. Count von Iggleheim, obviously a devout believer in the prediction, built a three-story ark. When it rained lightly on the predicted date where von Iggleheim had his ark, the crowd awaiting the deluge, apparently with entry into the ark barred, ran amok and stoned the Count to death.

      Curiously the year 1524 was rather dry across Europe.

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        Graeme No.3

        Sorry, I should have edited that better. It’s from a letter to the editor of the local newspaper replying to a persistent believer in AGW.
        It wasn’t published.

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        el+gordo

        Replace astrology with false science and it feels like we are on a loop.

        Stuart Kirk said “There’s always some nut job telling me about the end of the world.”

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        DOC

        G3. That sounds very much like the present. It shows how little human beings have changed. Most still just want to stay alive and don’t have the time -or are too lazy to take the time and take up the fight against being so fiercely conned. The ‘science is in’ is simply the astrologer’s dream all over again, swallowed hook, line and sinker by a world we thought was so better educated than the peasants and serfs of the middle ages. It’s horribly depressing when one sees how little we have changed.

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      Gary S

      There are certainly risks associated with climate change. Human induced climate change? Not so much.

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        b.nice

        Wordology.. climate change = global climate change caused by human CO2.. That is how the left use it.

        We should of course put a TM or other identifier to differentiate between natural climate variability and mythical human caused global climate change.

        Point is, that the risk from natural global climate change hasn’t changed except by where people choose to ignore the previous known issues, such as building in bush-fire zones and on flood plains, deltas etc.

        And there is absolutely zero identifiable human caused global climate change.

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          DOC

          b.nice I think that dropping of the ‘anthropogenic’ is the trick used to protect governments and green activists who know the end is coming to their control in aiming to change the West.

          They just need to get rid of the boomer generation the last generation which along with their parents had learned the lessons of wars, depressions and recessions, had to compete for their livelihoods and elected governments that were interested in them and their country.

          When people can no longer ignore reality and start demanding answers for being mislead, the defending argument will be ‘We always said it was ‘Climate Change’. The rest of what happened is the fault of all our society because the changes made to our way of life were those the people demanded. All the governments did was do as people demand in a very loud voice. Just look at the activism from everyone demanding specific changes to our system.’

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          another ian

          Like the “R in circle” that SDA adds to Safe and Effective”
          (Registered Trademark Symbol)

          [wee edit. – LVA]

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      PeterPetrum

      In his excellent book “Fossil Future” Alex Epstein makes it quite clear that not only have fossil fuels given us the standard of living we now enjoy they also are, and will continue to be, essential in protecting us from the current and future vagaries of our ever changing climate systems. Fossil power not only gives us the energy needed to keep the lights on and warm, or cool, but provides the power for emergency communications, the fuel for emergency vehicles and helicopters, the fuel and power needed for fire fighting, for the equipment to build flood and fire proof houses, dams, roads, rail and so on.

      Intermittent, low density energy will never be able to deal adequately with the weather conditions and other energy needs in any latitude of our world he postulates, and I believe he is correct. Such a shame that our elected representatives cannot see the reality of this.

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    Ronin

    From what I’ve heard about foot and mouth disease present in Bali, I can’t believe the MLA and cattlemens groups are not screaming from the rooftops to ban all travel to and from Bali.
    At present, you are not even required to present your shoes for inspection or cleaning at airport immigration, just stroll through, this will end up like Covid and varoa.
    If it gets into Australia, it will be the kiss of death for the cattle industry and will likely take a few others down with it.
    The feral pig population will ensure the rapid spread of the disease.
    Anybody remember what the UK went through back when they had it.

    230

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      David Maddison

      The Left will love to see Foot and Mouth disease destroy the meat industry.

      They want non-Elites to “transition” to insect consumption. Hence the building of “farms” to raise insects for human consumption in the more extreme Left countries like Canada and even in Australia, the once-reputable CSIRO is researching insects for human consumption.

      I wouldn’t be surprised if enemies of Western Civilisation are giving some assistance to spread F&M disease.

      The Elites will no doubt have plenty of meat in the deep freeze or bio-secure meat farms for their own consumption.

      221

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        Ronin

        You’d have to wonder if things like fire ants, varoa mite and now F&M had just a little ‘help’ spreading.

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        Lawrie

        As soon as I heard about the FMD outbreak in Bali I figured Chris Bowen would be delighted. He would be able to reduce our herds and flocks simply by ensuring the disease came ashore. The ALP/Green coalition would love nothing better than the destruction of rural industries and farmers. As the last of the free thinkers, independent minded and resilient individuals they pose the greatest threat to the group thinking slaves in the socialist parties. That is why the Nationals must lead the fight to restore common sense to our parliament. I am not sure it can be achieved with Littleproud at the helm; Canavan and Barnaby yes.

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      Penny Wong and other ‘Pollies’/’Advisers’ have just been to Bali for a ‘Conflab’ with other Nations. They already had the ‘Foot in Mouth Disease’ and they will most probably bring back the ‘Foot and Mouth Disease’.

      90

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    Zane

    HSBC soon to rename itself HSBCLGBTQVWXYZ+

    191

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        David Maddison

        I hope lots of people close their accounts at Halifax.

        Get woke, go broke.

        I’m glad the Lightyear movie failed at the box office due to going woke.

        Meanwhile, Top Gun: Maverick made no attempt at wokeness, the producers made a film people actually want to see and didn’t attemmpt to indoctrinate, and it is a massive success.

        BTW, I identify as an Apache Attack Helicopter and that is also my compound pronoun so you would say something like “I think Apache Attack Helicopter made a good point”.

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          Russell

          so that would be “I think aah made a good point”. Now that could catch on …
          but then more accurately “I think ah64 made a good point” or
          “I think ah64A made a good point”, “I think ah64B made a good point”,
          “I think ah64C made a good point”, “I think ah64D made a good point”
          oops – do you see where this is going?

          20

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    Neville

    AGAIN the world population has increased by 4.2 billion since 1970 and today is 7.9 billion.
    AGAIN our poorest continent Africa has increased by over one billion people since 1970 and today is over 1400 million people.
    Global life expectancy has increased from 56.4 years to 73 yrs today and Our world in DATA also shows we are much wealthier today.
    Ditto Africa and life expectancy from 46 to 63 years + today and they’ve also had to suffer the HIV AIDs disaster as well. When will we WAKE UP?
    Thanks again Jo and I’ll also be following Stuart Kirk and let’s hope he’s able to guide more people towards the light of LOGIC and REASON as time goes on.

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      Lawrie

      We are not supposed to wake up and that is why your truths will never be published in the MSM. Positive stories even if true do not sell as well as a bunch of scary lies. Besides if people knew the truth then the big scare would collapse and there would be many charlatans out of a job.

      71

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    OldOzzie

    Quadrant – Environment

    Old Macdonald Had a Wind Farm

    For LVA – summed up by the Comments

    – Christopher,
    Your writing skills are up there with the famous Aussies of yesteryear.

    It takes a lot to make me laugh out loud these days, but I did.

    Fark’n bonza lark Chris, almost chok’d on me Bonox when I read it, I did.

    111

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      rowjay

      Jo – Google translate will have a big problem with the linked Quadrant article. A few translations to help our Northern friends:

      No, yer drongo. > I repectfully disagree.
      whatchamacallit > I can’t remember what it’s called
      Yer can’t sell wind, you get it free > a valid statement
      Strewth, it’s a cockatoo > Oh dear, another bald eagle

      Glad to see that there is still a bit of humour left in this world.

      140

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    OldOzzie

    Trudeau’s nitrogen policy will decimate Canadian farming

    Much like in the Netherlands, Justin Trudeau is bringing in a nitrogen emissions cap that will absolutely decimate Canadian farming.

    In December 2020, the Trudeau government unveiled their new climate plan, with a focus on reducing nitrous oxide emissions from fertilizer by 30% below 2020 levels by 2030.

    “Fertilizers play a major role in the agriculture sector’s success and have contributed to record harvests in the last decade. They have helped drive increases in Canadian crop yields, grain sales, and exports,” a news release from Agriculture and Agri-Food Canada reads.

    “However, nitrous oxide emissions, particularly those associated with synthetic nitrogen fertilizer use have also grown significantly. That is why the Government of Canada has set the national fertilizer emissions reduction target, which is part of the commitment to reduce total GHG emissions in Canada by 40-45% by 2030….”

    This is a tacit admission that any attempt to lower admissions by reducing nitrogen fertilizer will consequently lower crop yields over the next decade, hurting the Agriculture sector and, more importantly, hurting farmers.

    And indeed, according to a report from Fertilizer Canada:

    150

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    Honk R Smith

    Does HSBC have beach front property holdings?

    50

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    RickWill

    There is no place for virtue signalling in finance.

    There is when governments are prepared to back the bad guys. This is what is happening now. Have a look and see how much of Australia’s future fund is invested in businesses that have no

    Governments are able to turn sows ears into silk purses. How many coal fired power stations does the Australia’s Future Fund invest in?

    This quote comes from AustralianSuper investment strategy:

    Issues like:

    Environmental: Climate Change

    As a large asset owner, we have an important role to play in driving the low-carbon transition across the global economy.

    So we’re collaborating on a global scale with a group of investors who manage US $34 trillion in assets worldwide to make an even bigger impact by engaging with the world’s largest carbon emitters to take action on reducing emissions in line with the Paris Agreement.

    Climate Action 100+

    < 2 degrees

    This is Super for Australian Trade Unions that back the Labor Government. Market realities do not come into the equation when governments choose who will be wealthy and who will be poor. The problem is that the vast majority will get poorer trying to fix a non problem. Only the really savvy will get wealthier; those pulling the strings.

    Triggy’s latest venture will have a guaranteed return.

    UK green gilts were oversubscribed at a time when the UK is living off the rest of the world for 18% of their national product. So there are nutters out there who are willing to throw money at green crusades no matter how bad they are.

    When the dust eventually settles on all this mal-investment and waste of resources it will be viewed as worse than the 1930s and 1940s of the German crusade. I may live to see that – I hope so.

    So-called research bodies like the CSIRO have done tremendous harm due to the ineptness that borders in negligence.

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      David Maddison

      ineptness that borders in negligence

      It goes way beyond that.

      It is impossible to be that inept and negligent.

      The silence about the existential threat caused by energy starvation policies (and soon, engineered food starvation) is willful and malfeasant.

      People must be prosecuted if we get through this.

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        RickWill

        I have pointed out to CSIRO using their complaints procedure that their climate models are achieving physically impossible temperature in the oceans. Their reply was that their ACCESS model was producing middle of the road predictions. They live in a modelled world that bears no relationship with reality.

        The BoM adjust history to match the models. No one actually considers why the measurements do what the do. They’re adjusted to match the models because the modelled worrd is their real world.

        Governments can make any mal-investment a winner. At least until they hit the wall like Sri Lanka.

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        another ian

        DM

        Check #15.3

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      Kalm Keith

      Good one. 🙂

      60

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      b.nice

      Canada too, by the looks of Old Aussie’s post above.

      They really are studying hard on the best ways to destroy their economies, aren’t they !

      They see what happened to Sri Lanka.. and immediately try to follow suit.

      Surely no-one can be that stupid… so…

      IT CAN ONLY BE INTENTIONAL

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        Ronin

        Do these climate clowns realise that thunderstorms produce tonnes of the evil nitrogen ,which washes out of the atmosphere with rain, yes, oxides of nitrogen, the same stuff allegedly spewed out by ruinous diesel vehicles.

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          Forrest Gardener

          Thunderstorms you say. They will have to be banned as well.

          Just wait until they discover humans breathe out CO2.

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            David Maddison

            Just wait until the scientifically illiterate Left (a tautology, I know) find out that lightning creates various forms of nitrogen oxides, what they call “nitrogen”, which is apparently now a driver of anthropogenic global warming.

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              David Maddison

              *Nitrous Oxide (N2O), Nitrogen Monoxide (NO), Dinitrogen Trioxide (N2O3), Nitrogen Dioxide (NO2), Dinitrogen Pentoxide (N2O5), Dinitrogen Tetroxide (N2O4).

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    David Maddison

    The Left are clearly at war against:

    Our energy supply.
    Our health.
    Our food supply.
    Our freedom of speech, movement and association.
    Our economy and our private property (cost of living, security of ownership. ability to acquire assets).

    We are becoming slaves, as is their plan.

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      Forrest Gardener

      I wonder whether a suitable analogy for the left is a locust plague. Can people be said to be slaves of a locust plague?

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      GreatAuntJanet

      If only it was just the left. I believe the ‘they’ includes all the elites – political, corporate, academic, military and tech. I realise I sound like a raving commie, but this is how the world has turned out. Class warfare.

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    YallaYPoora Kid

    I found Stuart Kirk on LinkedIn so he still exists and he has 30k followers and over 500 comments to his post the majority of whom are senior investment managers.
    Good to see the support for his stance although I also lament the politicising / social aggrandising of LinkedIn over the last years. LinkedIn’s original function was networking for work opportunities however now it has been taken over by virtue signallers pushing agendas rather than just a work function. In that sense it has lost its original purpose and it is falling into the trap of a becoming a professionals twitter platform.

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      David Maddison

      As I said above, LinkedIn is owned by Microsoft, so it can be expected to be fully woke and not compatible with free speech or independent thought.

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      Ross

      He’s also on twitter – @Exxplainfulness, but hasn’t a big presence there, only 710 followers.

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    Rick

    Here’s a thing. Within just a very few kilometers of my home in Perth’s northern suburbs, BP have, or are, building several brand new state-of-the-art petrol stations. I guestimate you wouldn’t get much change out of several million dollars to build one.
    So how are they gong to get any ROI from stations that will ostensibly be not required in less than eight years?
    Once more, what we are being told fails to tally with what we are seeing.

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      David Maddison

      I guess when petrol (gasoline) is banned, they will become fast charging stations for EVs.

      Of course, the only problem is that, (1) as our economy continues to be trashed, few people will be able to afford EVs and (2) there won’t be enough power in the grid once all the coal and gas power stations have been shut down (and nuclear outside Australia). Even hydro power stations are being destroyed in the Republic of Kaliforniastan.

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        Forrest Gardener

        There is another problem.

        Cars take about ten minutes to fill with petrol. And the petrol stations frequently become crowded. Imagine the lines which will form when it takes two hours for even a basic electric charge.

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          yarpos

          Something more like drive in movie theatres are needed for EVs. Fields of chargers, with massive power needs and large central amenity blocks. All out on our major highways, every couple hundred kilometres.

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      Ross

      Same in Victoria- there are new servos being built everywhere. But, they aren’t just serving petroleum based fuels anymore. The ones being built here have petrol but also fast food restaurants and other small shops. One stop shop for food and fuel and then some other goods as well. I suspect the money the operators make out of fuel is negligible and the real profit is is all the other stuff.

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        yarpos

        Nothing better than trying to pay for your fuel behind someone that wants a coffee, a redbull, two sausage rolls, 4 dims sims and a packet of ciggies.

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    David Maddison

    Governments don’t want an intelligent population because people who can think critically can’t be ruled. They want a public just smart enough to pay taxes and dumb enough to keep voting for them.

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    Neville

    I’ve read that Submarine crews operate in their workplace where co2 levels sometimes reach up to 8000 ppm and they don’t notice any problems at all.
    Certainly the plants around our planet love the extra 65 to 70 ppm co2 levels since Dr Hansen’s speech in 1988.
    And Human population + life expectancy + wealth has also rapidly increased since 1988.
    So here’s the question …. can anyone understand why governments have WASTED TRILLIONs $ on TOXIC,unreliable S & W energy and why they’ll continue to waste many more TRILLIONs $ in the decades ahead?
    And all for a GUARANTEED ZERO return on their so called investment?

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    • #
      RickWill

      And all for a GUARANTEED ZERO return on their so called investment?

      It is the exact opposite. I do not pay energy bills. I make use of subsidies on offer. If you are favoured by government, you are guaranteed a return. It is not until the wheels fall of the whole flakey cart that questions get asked – How did we end up here?

      Sri Lanka provides the example of the end game for nonsense. UK is heading that way fast. Here is something to be concerned about if you live in the UK. Sri Lanka’s current account deficit in Q1 2022 was 1.5% of GDP. UK’s deficit for the same period was 18% of GDP and they are heading for much worse this coming winter.

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        DOC

        Isn’t it something to do with ‘the new green deal’, again coming out of the EU elites (with their undemocratic EU Commission). Just ask Albo and Bowen.

        Albo seems sold on it by his utterances in the short refueling visit he made to Australia before flying off to Fiji or wherever. Bowen’s apparently inane promise of doubling up on renewables to solve the problems presented for all to see – from renewables, would indicate our governance is again captured by our europhile politicians that see a big rise in their power by governing for Europe’s version of how the Western nations must become ie governed by Europe.

        Also, add Germany and Holland to Sri Lanka on all attempts to show what disasters are unfolding around the globe that, like Texas last Spring, are going to claim many lives. It is a big bloodstained disgrace upon our politicians in power, who must know but totally ignore the disasters that are unfolding in those countries, all due to the policies our own governments are foisting on Australia.

        If we had a half decent media left, damnation and hopefully permanent gaol sentences would be brought down on their heads for putting international intrigue ahead of our nation, their prime responsibility. Hopefully. those responsible, from anywhere in our governmental systems will go down in permanent disgrace in our history.

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      David Maddison

      Before CO2 started to naturally increase, we were heading for a mass extinction event because plants require a minimum of 150-200ppm CO2 to survive, depending upon if the plant uses C3 or C4 photosynthesis.

      In the 1700’s it got as low as 280ppm. We were heading for disaster.

      The optimal level for plant growth is considered to be about 1500ppm, which is what they use in commercial greenhouses, so hopefully CO2 will continue to increase. Plants love CO2.

      Nature corrected itself.

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    Peter Fitzroy

    Stuart Kirk – while during his suspension he had assembled a “crack group of like-minded individuals” to develop a new asset class underlining the central argument in his speech: “that human ingenuity can and will overcome the challenges ahead, while at the same time offering huge investment opportunities”.

    best bit of free advertising he could get, after using the HSBC as his personal advertising agency, and paying him while he assembles the ‘crack team’

    the chutzpah is amazing

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      And given the ridiculously unfair playing field and censorship for honest opinions I was delighted to offer him a form of free advertising here.

      HSBC didn’t have to burn him off for doing a good job.

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      • #
        Peter Fitzroy

        Let’s just see how it plays out – this amazing new asset class and the crack team could not possible be marketing

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          Sceptical+Sam

          You wouldn’t know.

          With you and your comrades market manipulation and pumping you should all be in gaol.

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        • #

          You do realize Peter Fitzroy HSBC is an acronym for Hong Kong Shanghai Banking Corporation and the red princes and princesses of the Chinese Communist Party channel immense sums of money through the bank . HSBC was compelled to pay enormous fines after the bank was exposed laundering the profits of Mexican drug cartels and terrorist organizations FBI director and friend of the Clintons James Comey was recruited to sit on the banks board but there is nothing whiffy about that. According to the former AFP commissioner Comey is a man of ‘incredible integrity ” Some have a different view

          Stuart Kirk was HSBC’s ethical investment specialist advisor – not his personal advertising agency – and the bank burned him …Yes the ‘chutzpah is amazing ‘

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          • #

            HSBC was domiciled in Hong Kong before buying the old British Bank called The Midland Bank. That got them out of Hong Kong before the changeover and then domiciled in the UK (London especially).

            They really do have a checkered history and always seem to be up to ‘no good’ (all good for themselves though).

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      rowjay

      Hello Peter F

      It will be good to have alternative investment options, the cornerstone of a free society.

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      yarpos

      “the chutzpah is amazing”

      Only to people that have lived off the public teat all there lives

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      Strop

      Peter, if you were suspended by your employer would you just sit watching TV while getting paid? Or would you start looking for another job because it’s obvious your employer is no longer the sort of employer you wish to continue with?

      I expect most people would do the latter and I expect the employer hopes for the latter.

      It takes a good amount of chutzpah to just sit there getting paid and expect to return to normal with the obviously incompatible employer.

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    Neville

    Never forget that Human population reached the first billion in 1800 and life expectancy was under 40 years for the previous 200,000 years. THINK.
    BUT since Dr Hansen’s speech in 1988 the global population has increased by another 2.8 billion and life expectancy has also increased by a further 9.3 years since 1988.
    And Africa’s population has increased by a further 804 million since 1988 and their life expectancy has also seen a further increase of 11 years by 2022.
    Therefore their so called CLIMATE CRISIS is just more DELUSIONAL nonsense from our fanatical religious extremists.

    https://www.macrotrends.net/countries/AFR/africa/population

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    garry b

    You may be able to have your say if you are a shareholder in a public company, whose management is woke, or has advertising in support of woke causes, or natters on about “saving the planet”, “global warming”, etc-you know the drivel when you hear it. Every year you will get a proxy vote entitling you to vote on director (re)appointments, and to approve the remuneration report. Make sure you vote against the incumbents seeking return to the board and most important vote against the remuneration report.
    You may also want to ask the share registry, that the company post to you a hard copy of the Annual report (the laws have changed, and it is no longer automatic), and that your dividend statements be posted to you. The cost to you is zero, and if enough of your fellow shareholders (who bother to vote) do the same (25%) two years in a row, directors lose. Include a note with the vote asking them to get your company out of politics.

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    John Connor II

    A LOT of resignations have happened in the CEO world. They’re smart enough to jump ship before it all goes boom, and escape with their families to wherever. Enjoy life now ‘cos…
    Anyway:

    EU Climate Plan Doomed Unless Sanctions Against Russia Lifted: Lawmaker

    The controversial EU green transition plan, also known as Fit for 55, which was designed to reduce the bloc’s greenhouse gas emissions by 55% by 2030, is unfeasible unless sanctions against Russia are lifted, a EU lawmaker from the Freedom Party of Austria, Roman Haider, told Sputnik.

    “They don’t know how to save their unrealistic and dangerous Fit for 55 strategy without canceling the sanctions against Russia,” Haider said.

    This decision by the European Parliament signaled that EU governments are facing a stark reality, recognizing that more time and more realistic goals are required to transform the energy infrastructure in Europe, Haider said. Meanwhile, the Freedom Party of Austria has repeatedly raised the issue of impractical goals set as benchmarks for the EU and warned of grave consequences for the European and Austrian economy should the Fit for 55 plan be fully implemented, he noted.

    “This package is a massive threat to businesses in Europe. It makes Europe even more dependent on imports and drives the price spiral further upwards. It destroys jobs, promotes the impoverishment of Europeans and is massively harmful to the environment. In short, Fit for 55 is a serious threat to Europe,” Haider warned.

    Haider stressed that to achieve carbon neutrality by 2040 and meet the goals of the Paris climate agreement, Austria would have to cut emissions by 95% over the next 18 years, as a recent study shows that the country’s CO2 emissions in 2021 reached 1990 levels.

    https://alethonews.com/2022/07/09/eu-climate-plan-doomed-unless-sanctions-against-russia-lifted-lawmaker/

    The EU joined the USA in their idiotic proxy war against Russia.
    Now the realities of that idiocy are becoming crystal clear.
    The delusions of their green agenda will destroy their economies and WW3 will be over without Russia firing a shot.
    The west will have shot themselves over and over…

    However, the EU will cave to Russia out of desperation and Greta will have another tantrum.

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    Yonason

    “ Follow me on LinkedIn…” – Stuart Kirk,

    Good luck with that.
    https://reclaimthenet.org/linkedin-bans-dr-robert-malone/

    If they’ll ban Dr Malone, they won’t have any problem banning him.

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    David Maddison

    The rate at which Biden’s handlers, and especially his principal handler, Obama, are destroying the United States is unprecedented and alarming. There may not be anything salvageable by the time Trump reclaims the Presidency.

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    Antonio Termine

    Just closed my account at LinkedIn.

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    rowjay

    You’ve got to love numbers to appreciate the perplexing stance that Prime Minister Albanese has committed this nation to with his 43% emissions reduction by 2030. That reduction amounts to another 142.7 MtCO2e over the next 8 years.

    A visit to the Data on CO2 and Greenhouse Gas Emissions by Our World in Data and downloading their spreadsheet reveals the following data about emissions from coal-fired power stations expressed in MtCO2e:

    Nation…………….Year………Coal-fired Emissions (MtCO2e)
    Australia………….2005……….201.452
    Rest of World…….2005……..11,368.634
    Australia………….2020……….159.817
    Rest of World…….2020……..13,816.281

    So over the 15 year period 2005-2020, Australia reduced its coal-fired emissions by 41.635 MtCO2e, while the rest of the world increased coal-fired emissions by 2,447.647 MtCO2e at an average of 163.176 MtCO2e per annum. If the trend for increased coal-fired power generation continues for the rest of the world, then the Albanese commitment will be swallowed up in less than a year!

    I am a last-century trained science graduate. I just cannot understand why a Government would intentionally commit it’s citizens to pursue such a bizarre strategy, when it is obvious to numbers people that it is pure posturing and folly – it will not save the planet. If it was done to garner free trade agreements with other nations, then the outcome to Australians is definitely not free.

    If there are any new-world thinkers out there that can enlighten me on the physical benefits to this nation of pursuing the emissions reduction policy, please reply and I will try to understand.

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    Ross

    I now follow my own NON ESG investment guidelines. I have coal and petroleum companies in my portfolio and just keep adding to them. When Origin Energy advised they were getting out of coal, I dumped them and bought another company. For me, its think slightly cooler world over next 10 years (maybe more) and think of products/services likely to prosper in those conditions. I will now follow old mate Stuart Kirk on LinkedIn and hopefully any other social media.

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    Phil O'Sophical

    Perhaps as an insider he can do for the climate scam what Ed Dowd, another insider, is doing for the jab scam.

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    Zigmaster

    I still find it interesting that people like him and Bjorn Lomberg still say there are risks but the responses to them and the severity of them are exaggerated .The real problem is the whole premise in the first place. Is there in fact any measurable impact on the climate due to CO2 and if there is do we need to do something about it and can we? I’m amazed that our governments response to floods is build some more wind farms and they’ll stop. If that’s the case why did we build desalination plants, because we weren’t going to get floods anymore. I am yet to see one scintilla of evidence that the basic hypothesis of global warming is in fact true and yet to point this obvious fact out is heresy. Nothing from the warmists makes any sense.
    The description of the climate movement as a cult is accurate and as with all cults those that try to leave the cult get punished.

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      Agree totally.

      The Milankovitch and solar cycles are simply beyond our ability to impact on. And CO2 does nothing for climate – any rational assessment shows this. The best option is to adapt to changes, just like we have had to for millenia.

      But this is nothing to do with climate, as the covid response was nothing to do with a mild flu like virus – as you allude to. These are vehicles for the domination and destruction of our way of life, and its replacement with something totally controlling, impossible and evil. Until people wake up and cease swallowing the propaganda we will go nowhere.

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    yarpos

    Probably better for Mr Kirk’s mental health to get out of a workplace built on fantasy and lies and frustration.

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    Daffy

    “caring about planet earth” is the problem. We need to care for people, and wisely use planet earth to that end. The left hate people (other than their power-pals, of course) and thus where we are.

    10