Nearly every proposal from the climate activists was struck down:
How times have changed. After the energy crisis of 2022 investors at major oil and gas firms are spurning climate activism. A year ago nearly a third of investors at Chevron and Exxon voted for the draconian “Scope 3” emissions targets. These targets are ludicrous — requiring the oil and gas giants to adopt a plan to reduce third party use of their own products. It’s like a form of corporate sabotage.
This year only about 10% of the same investors voted for these measures. And apparently there’s a similar trend on the other side of the Atlantic with BP and Shell investors rejecting activism too.
This is a very encouraging sign that the dominance of BlackRock et al is waning — they are bullying the world with other people’s money, and word is spreading as the US states fight back.
ESG Blowback: Investors Reject Climate Measures at Exxon, Chevron
By Collin Eaton and Jenny Strasburg, The Wall Street Journal
The votes were abysmal for climate activists. All but two of the 20 shareholder proposals for the two companies garnered less than 25% of investors’ vote, according to preliminary results, with some performing much worse than similar proposals put forward last year.
In recent weeks, similar climate proposals failed to win over most shareholders at annual meetings of British oil and gas giants BP and Shell in London.
It’s still bonkers that 10% of oil investors would vote for a plan to get their customers not to use their own product, but if those 10% were BlackRock and Vanguard, the giant financial asset managers themselves, then they have other ways to profit from these votes.
The ESG spell is broken:
But Wednesday’s votes demonstrated how some shareholders have backed off pushing major oil companies to embrace certain climate goals. Investors said many voices pushing ESG measures have been drowned out following Russia’s war in Ukraine, which caused oil and gas prices to skyrocket as global supplies were crimped.
Investments in fossil fuels pushed many oil companies to record profits last year, which lured back some investors who had fled after years of meager returns from the industry. Exxon Chief Executive Darren Woods said Wednesday the company had benefited from investing in fossil fuels when others pulled back.
But Woods and other industry executives have argued some climate-related proposals would backfire or leave the economy worse off. Woods said several proposals rejected Wednesday would have required the company to assume the world will cut carbon emissions at a much faster pace than observers have projected.
“Some [would] go so far as to force us to decrease oil and gas development,” he said. “This would do nothing to reduce global demand.”
This is a good sign that the free market is not dead yet.
______________________
ESG Means: environmental, social and corporate-governance issues.
Photo by Farragutful
Wonderful news. Does that mean we’ll be spared having transgenderism promoted to us every time we fill our cars with petrol/gasoline?
Get woke. Go broke.
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Agreed. Hopefully some people are waking up to the climate scam and the ESG stupidity.
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As for woke, we’ve been there before. Trans fats are fats. How many lives did that cost?
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I noticed buying petrol at Shell in McLaren vale, SA, they had all the pride rainbow stuff. Disgusting.
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James. Are the CEOs of these woke companies QWERTY people themselves?
Example: after decades of non-stop propaganda and years of “Pride” (always goeth before a fall dontcha know?) the QWERTY Mardi Gras in Sydney mustered a measley 12,000 participants = the QWERTYs are an ultra fringe group as always.
Meanwhile a one-week registration period gets 60,000+ participants for the Sydney City to Surf run. So where’s the runners’ pride month BS at the petrol stations?
Or…..the annual stamp-collectors fair gets tens of thousands….or the annual spoon collectors market gets 10 times as many as the QWERTYs. Or any comedy festival, movie festival, art festival, pet festival etc etc etc gets huge numbers. So WHAT is the big attraction for these company CEOs? Men in sequins?
Anyone here got another suggestion, since it’s clearly nothing to do with customer numbers!
PS; might be something to do with rapidly rotting brains due to gene-jabs…maybe?
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Can you hear that…….
That is the sound of the Penny dropping!
At last they are starting to realise the harm these virtue signalling ESG measures are crucifying their investment, and the futility of them on a world scale.
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Or just maybe ESG as served its purpose and the puppet masters pulling the strings have already moved on to the next phase of their unfolding plan.
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Yep …
The ESG scam was finished as far as potency was concerned about 12 months ago. How do I know ?
The DD required to sign off on independent reports for projects destined for SX listing had become more and more pointless and silly on ESG to the extent that serious DD reports simply bypassed it. Some of the independent SX people on ESG I know had taken to refusing the business – requirements were just too silly.
There are fresh, new harangues in the pipeline now. You didn’t really think we would be left alone, did you ?
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Spot on, Ianl.
I don’t know what the Next Big Thing will be, but I know it is scheduled to hit us around August-September next year – 2024. In the meantime there will be plenty to keep us preoccupied /distracted. Everything from growing awareness of the covid damage, to rumours of wars, to power blackouts, to rampant inflation, to shortages at the supermarket.
In the same period much will be happening behind the scenes – we have our fake referendum in October this year, followed by the rewriting /gutting of our Constitution in February next year – 2024, along with the Senate passing the Cash Restrictions Act at the same time. That will effectively make us a dictatorship.
I don’t know which puppet will be the Head Dic come September 2024 – I doubt it will be Albo – but I know who will be pulling the strings – the same person who has been running te show here since 2015. Her photo is included below.
https://live-production.wcms.abc-cdn.net.au/278e203eb7519d048600f055f3a65475?impolicy=wcms_crop_resize&cropH=2813&cropW=5000&xPos=0&yPos=32&width=862&height=485
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“…we have our fake referendum in October this year…”
You missed the other important foundational piece being put in place for 2024 with that being the WHO centralising their power through the new international health regulations which come into effect in about 6 months time. Great interview by Dr John Campbell with James Roguski on the subject.
https://www.youtube.com/watch?v=9ux5w1DzDjA
[51minute video but you will get the gist within the first 10 minutes and probably want to watch it all].
Once the voice is in the constitution I’m suggesting an eary piece of advice voluntered will be the need for change when it comes to the judicial arrangements for sentencing First Nations people. The advice will be along the lines of having all cases managed under Aboriginal “legal” structure and community sentencing which will not involve incarceration. And when the government gags and stumbles on a response the voice will be off to the WHO asking them to declare a health emergency in Australia given indigenous are “being killed” by white man justice and there you go a race based parallel legal system. And after that the universe is the limit.
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“Julie leads the world’s first government regulatory agency committed to keeping its citizens safer online…
Julie’s experience at Microsoft spanned 17 years, serving as one of the company’s first and longest-standing government relations professionals, ultimately in the role of Global Director for Safety and Privacy Policy and Outreach. At Twitter, she set up and drove the company’s policy, safety and philanthropy programs across Australia, New Zealand and Southeast Asia.
At Twitter, she set up and drove the company’s policy, safety and philanthropy programs across Australia, New Zealand and Southeast Asia.
…also serves on the World Economic Forum’s Global Coalition for Digital Safety and on their XR Ecosystem Governance Steering Committee on Building and Defining the Metaverse.
Under her leadership, eSafety has joined forces with the White House Gender Policy Council and Government of Denmark on the Global Partnership for Action on Gender-Based Harassment and Abuse.
In 2020, the World Economic Forum (WEF) and Apolitical appointed the Commissioner as one of the #Agile50, the world’s most influential leaders revolutionising government. “
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What we need is a large majority of USA states to fight their ESG lunacy through the courts if necessary until these delusional donkeys wake up. Hopefully the threat of court action should be enough.
How can we supply good jobs and better lifestyles for the people today and in the future if we continue to wreck the economy as fast as we can?
The rule of thumb is if the clueless lefties want something stupid the rest of us must fight against it.
But eventually the voters must wake up and respond and help the decent pollies to win the day.
Then we must make sure this doesn’t happen again. Their net zero idiocy is the next big issue to be cancelled and thrown into the rubbish bin of history.
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Investors are starting to realise that ESG really stands for – “Economic Suicide ‘Goddamit'”……………..
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AGAIN TOXIC W & S are a disastrous zero % on King Island this morning and the Diesel is the only source of energy.
This is at 8.54 am this morning and 100% Diesel source for previous 5 minutes. So where’s the roaring 40s wind?
https://www.hydro.com.au/clean-energy/hybrid-energy-solutions/success-stories/king-island
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This is exactly the system, although at a smaller scale, that the Government wants for the mainland, although without any fossil fuel backup, which is the only thing saving the islands from going dark.
If it can’t work in the Roaring 40’s, where can it work?
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“ESG Means: environmental, social and corporate-governance issues”
Actually “is an acronym for” would be better. What it means in reality is just more minority activist BS, just like DEI, CRT, BLM , AGW etc
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Unfortunately it will take time for the idiots in charge and their complicit media backers here to wake up to their stupidity.
I can see Australia as the last place for alarmists and ruinable supporters so cling to the sinking ship.
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This is a good sign. People are waking up to the fact that ESG really stands for “Extreme Socialist Government”. Of course it was never about the climate, but about trying to trick and scare people into submitting to the neo Marxist / Fascist global agenda. But, we need to remember that this was is fought on many fronts. Down here we might end up with a new unelected chamber of parliament, filled with radical left wing extremists, under the guise of “a voice” that would block every bill put forward by a conservative or non-conforming future government, including supply, to ensure only one form of government would be able to prosper. Our civil liberties and freedom are being eroded more and more each day under the guise of climate, racial equity, gender equity and income equity. The high inflation we see today is the direct result of climate policies both here and overseas and the resulting social impacts then become the justification for even more socialism and attacks on our civil liberties and freedom. If you don’t subscribe to the fake agenda then you get branded a racist or other derogative term. Fighting back from here seems like an impossible uphill task but it must be done.
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How will we know when we begin waking up from the Net Zero wet dream?
Probably when they start claiming “we never said ALL ‘fossil’ fuel had to be stopped.”
Here in America, Democrats are commonly now saying, “we never said Defund the Police.”
And Trudeau never forced anyone to be vaccinated.
“Net Zero never meant ZERO.”
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Denial is not a river in Africa. The people against fossil fuel will claim that was never the case, but it is exactly what Nett Zero means. But we have to wait until the lights go out, as in South Africa. And the food stops. As in Sri Lanka.
Meanwhile as posted by READER the WHO and John Kerry have combined to call Climate Change a health crisis, which gives the WHO dictatorial powers.
“Kerry thanked the WHO for sounding the alarm on the climate crisis saying, ‘There is no polite way to put it, the climate crisis is killing people’. Tedros agreed saying, ‘The climate crisis is a health crisis…’
“Except if the WHO gets the powers it is seeking in the pandemic treaty and the international health regulations we’ll find ourselves in a climate lockdown sooner than you can say ‘monkey-pox’!”
ESG is one of the many assaults on Western society by China and the UN and Western Marxists. The UN is becoming the Eye of Sauron. Organizations can metastasize too.
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I firmly believe all this nonsense will end, and people will opt for real energy. But when is the question and how much damage will be done in the meantime.
I base this on children. They are all brainwashed to hate oil and coal (or that bad stuff as they know it, they don’t even know what it is), but as soon as the power goes out and the xbox stops, they come crying for a solution before the light completely fades from the bulb, it takes milliseconds. This want will drive everything in the end. Its’ like in the early 90s, a lot of young girls would go all hippy while at university, once that ended and they had to deal with reality, out come the heels and shavers and jobs in finance. Saw a lot of that.
Human nature always wins, but the mind is fallible in the interim.
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Well, how do we know what climate we are measuring? Seems none of the Govt agencies in charge of telling us how hot it is are honest..
“Ian Wishart found that most of New Zealand’s historic storms and cyclones are missing from NIWA’s Historic Events Database. In fact more than 80% are missing. When the missing data is looked at it refutes claims that “extreme climate events” are becoming more common. Ian Wishart states: “If Gabrielle is being called a 1-in-250 event by the media and climate scientists because they don’t realise that there was an even bigger one 155 years ago, what other big storms have slipped under NIWA’s radar and what does this mean for current official advice about the frequency of extreme weather?”
In total, 22 extreme weather events associated with storms of similar or greater barometric pressure than cyclone Bola have been located in the 22 year period from 1868 to 1890. That’s a rough average of one per year, and 1868 had four in one year. Five of these known storms in that period had far deeper barometric pressure than Gabrielle. Storms of that magnitude may have been 1-in-4 events even though the Carbon Dioxide levels were lower than at present.”
“Recently, the Heartland Institute conducted a study of the placement of temperature stations in the USA. They found that 96% of climate data is corrupted. These are NOAA official temperature stations. ”
https://breakingviewsnz.blogspot.com/2023/05/ian-bradford-can-we-trust-niwa-and-why.html
So before we even get to ESG we we find it is all based on lies. Just how stupid are the peasants?
…and some sharp comment in these pictures!
https://garricktremain.nz/
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I have read comments from a couple of older climate scientists when they were only” atmospheric physicists”. They always claim that most of the recorded warming associated with the late 20th century was probably due to Urban Heat Island Effect interfering with met station recordings. Then we have this 1.5˚C limit where supposed armageddon is going to happen. Who says the climate was any better pre-industrial times anyway? A lot would say it was colder and worse from a human civilisation point of view.
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Garrick does not miss. I gather that the Meoris taking over the water has caused a lot of problems. Ehe aborigines here would love to control the water. They probably believe in Tiddelick. They don’t seem to realise they lost and the new Australians won. I do note is the city politicians who so readily cave to Aboriginal demands. They likely think their food is grown in Coles and Woolies.
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From E.S.G. investors recoil,
And go back to investing in oil,
In votes shareholders choose,
Which activists lose,
And is sure to make their blood boil.
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What you will find is that Australia’s big banks ( and little ones too) are still all on board with the ESG ratings. I have a share portfolio within Westpac. If you dial down to each share and ” market research” there is the ESG score from low to high. So, I tend to use that score in reverse where the higher the score the better the investment! Personally, I think it’s a financial market scam. The big players are hoping everyone will use the ESG ratings like sheep, and then they will do the complete opposite.
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GET WOKE. GO BROKE.
https://www.disneydining.com/disney-actress-pushes-for-a-transgender-princess-em1/
Disney Could Be Getting a Transgender Princess
Posted by: Eva Miller April 13, 2023
SEE LINK FOR REST
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Francis Menton again tells the truth about the extremist DEMs in the USA and how they’ll create new delusional policies and even their so called moderates (?????) will vote for their latest idiocy every time.
We are hoping for the end of the extremist ESG lunacy but these loonies will just continue to dream up more extremist ideas to try and wreck society ASAP.
And ditto the extremist Labor and Greens loonies here in Australia.
https://www.manhattancontrarian.com/blog/2023-5-31-are-there-any-democrats-left-who-are-not-fully-on-board-with-the-agenda-of-the-radical-left
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Modern Democrats have always been onboard with the radical left. Now they no longer need to pretend.
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According to the clueless EU the sceptics are funded by Russia and China.
But we know the opposite is true and Russia and China have funded the far left loonies promoting CC extremism for years.
Why would China and Russia want to fund the only realists or sceptics who are trying to ensure that the OECD countries remain strong and secure? Think and wake up.
Anyway this is just another sign of the EU + BIG CORPORATE drift towards FASCISM.
https://wattsupwiththat.com/2023/06/03/eu-climate-deniers-are-linked-to-a-russian-and-chinese-disinformation-attack/
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