European 'Green' Investments Hold Billions in Fossil Fuel Majors (theguardian.com) 18
An anonymous reader shares a report: European "green" funds holding more than $33 billion of investments in major oil and gas companies have been revealed by an investigation, despite fossil fuels being the root cause of the climate crisis. Some of these investment funds used branding such as Sustainable Global Stars and Europe Climate Pathway.
Over $18 billion was invested in the five biggest polluters: TotalEnergies, Shell, ExxonMobil, Chevron and BP. These topped a 2023 Carbon Majors ranking for oil and gas production among shareholder-owned firms. Other investments by funds following EU sustainable finance disclosure regulations (SFDR) included those in US fracking company Devon Energy and Canadian tar sands company Suncor, the investigation by Voxeurop and the Guardian found.
Investors claim that holding a stake in a company allows them to influence the firm's pursuit of climate goals. However, no major oil and gas producer has plans consistent with international climate targets and many companies have weakened their plans in the last year, according to a report from Carbon Tracker in April. The investment firms with the biggest stakes in fossil companies in their green funds were JP Morgan, BlackRock and DWS in Germany.
Over $18 billion was invested in the five biggest polluters: TotalEnergies, Shell, ExxonMobil, Chevron and BP. These topped a 2023 Carbon Majors ranking for oil and gas production among shareholder-owned firms. Other investments by funds following EU sustainable finance disclosure regulations (SFDR) included those in US fracking company Devon Energy and Canadian tar sands company Suncor, the investigation by Voxeurop and the Guardian found.
Investors claim that holding a stake in a company allows them to influence the firm's pursuit of climate goals. However, no major oil and gas producer has plans consistent with international climate targets and many companies have weakened their plans in the last year, according to a report from Carbon Tracker in April. The investment firms with the biggest stakes in fossil companies in their green funds were JP Morgan, BlackRock and DWS in Germany.
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Everything I said was and is true. You not liking that, doesn't change it. Now, do the adults a favor and shut the fuck up little NPC... While they tax you into submission for things they cannot prove, that you are fucking stupid enough to swallow...
you say, but it's worth showing where it's false
Was your lie. There's no such mathematical impossibility and the taking of carbon from a solid state in the ground to a gaseous state as CO2 in the atmosphere obviously can change climate. There's the same amount of carbon on earth, but instead of being passive as coal in the ground it's now actively reflecting
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The fossil fuels you incurious lazy chump
If I dig up a bunch of coal and burn it what happened to the carbon
Nevermind, you act stupid but you are a liar. A bald faced dumfuck malicious liar. Stop lying.
Thank you for sharing your thoughts Vice President Al Gore /s
Fossil Fuel Majors ?? (Score:4, Funny)
Is that a degree in energy management specialising in coal, oil and NatGas?
Or what happens when you promote a Fossil Fuel Captain?
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"Or what happens when you promote a Fossil Fuel Captain?"
A Fossill Fuel Admiral?
A Fossill Fuel Admiral? (Score:2)
No, you would get that by promoting a Fossil Fuel Commodore.
Come to think of it, all (Holden) Commodores ran on Fossil fuels, though some of them may have been converted from petrol to CNG or LPG (which are still fossil fuels even though they contain less carbon.
Isn't it funny (Score:5, Insightful)
Isn't it interesting that when investors have their own money on the line, the environmental virtue signaling goes out the window.
Suddenly the Green Energy initiatives of Exxon and BP should be given more credit.
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Isn't it interesting that when investors have their own money on the line, the environmental virtue signaling goes out the window.
Suddenly the Green Energy initiatives of Exxon and BP should be given more credit.
There's nothing logical about your post. Like... nothing at all. There is no virtue signalling - the investment in fossil fuels companies is in the green divisons of those companies.
Even the second part of your statement is baffling. Exxon was infamously laggard as the only oil industry major that didn't do any meaningful green energy work, and the green darling bp has pivoted away from green energy massively recently ... because it didn't make enough money.
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Isn't it interesting that when investors have their own money on the line, the environmental virtue signaling goes out the window.
Suddenly the Green Energy initiatives of Exxon and BP should be given more credit.
There's nothing logical about your post. Like... nothing at all. There is no virtue signalling - the investment in fossil fuels companies is in the green divisons of those companies.
Even the second part of your statement is baffling. Exxon was infamously laggard as the only oil industry major that didn't do any meaningful green energy work, and the green darling bp has pivoted away from green energy massively recently ... because it didn't make enough money.
Based on your logic you might have invested in the German Wehrmacht and not the SS during WW2.
Supposedly the German Wehrmacht and specifically the Heer were not dirty like the SS.
Multiple history books printed after the 1980s have generally proven that was a fairy tale spun by captured German Heer officers after the war was over to differentiate themselves from the SS and ingractiate (suck up) themselves to their Western captors, basically to avoid trial at Nuremburg.
Not enough green investments to go around (Score:2)
The ESG/green investing products have the same problem as any targeted investment in a particular area. There is not enough places to invest the money beyond a given total dollar amount.
The remaining money goes to companies 'allied' to the ESG/green movement even if the allied companies have have run non-green business for decades.
This is stupid (Score:2)
A firm doesn't need to have plans consistent with climate goals in order for an investment in that firm to produce results consistent with climate goals. The reason oil and gas companies got such a large share of green investment is because they ... invested it in green energy.
Yeah in the past year they've all backed off, but that didn't mean that BP wasn't one of the biggest wind producers in America, or one of the largest solar companies in Europe, or that Shell doesn't have a *massive* EV charging networ
33 billion is not much (Score:2)
https://www.reuters.com/busine... [reuters.com]
It may well be the money these green funds have invested is a mistake, but in no way would that investment ever be missed. It is a tiny drop in the barrel, as it were.