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  1. #2976
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    StokePimpin' ain't easy

  2. #2977
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    https://www.cbc.ca/news/business/bla...ange-1.5426465

    BlackRock, the world's largest asset manager, is changing its focus to climate change

    'In the near future...there will be a significant reallocation of capital,' CEO says in annual letter

    BlackRock, the world's largest asset manager, will make climate change central to its investment decisions.
    Founder and CEO Laurence Fink, who oversees the management of about $7 trillion in funds, said in his influential annual letter to CEOs Tuesday that he believes we are "on the edge of a fundamental reshaping of finance" because of a warming planet.
    Climate change has become the top issue raised by clients, Fink said, and will affect everything from municipal bonds to long-term mortgages for homes.
    The New York firm is taking immediate action, exiting investments in coal used to generate power, and it will begin asking clients to disclose their climate-related risks.
    "Because capital markets pull future risk forward, we will see changes in capital allocation more quickly than we see changes to the climate itself," Fink wrote in the letter. "In the near future — and sooner than most anticipate — there will be a significant reallocation of capital."
    That shift is already underway.
    Investors poured $20.6 billion into sustainable funds last year, nearly quadrupling the record it had set a year earlier, according to Morningstar. The industry has broadened in recent years, after starting with simple funds that bluntly excluded stocks deemed as harmful, such as gun makers or tobacco stocks.
    Investors, particularly younger ones, increasingly say they want their money invested with an eye toward sustainability. Fearful of losing out on those dollars — and the fees that they produce — investment companies are rushing to meet the surging demand.
    Fund managers increasingly say they consider environmental, social and governance issues in their broad investment strategy. It's known as "ESG" investing in the industry, and it means fund managers measure a company's performance on the environment and other sustainability issues along with its bottom-line financials when choosing which stocks to own.
    ESG funds say such an approach can help investors' returns, rather than just their consciences, because it can help avoid risky companies, and the big losses they may have ahead of them in the future. Companies with poor records on the environment are more likely to face big fines, for example.
    The European Union plans to dedicate a quarter of its budget to tackling climate change and has set up a scheme to shift 1 trillion euros ($1.1 trillion) in investment towards making the economy more environmentally friendly over the next 10 years.
    The Europe Investment Plan, to be unveiled Tuesday, will be funded by the EU budget and the private sector. It aims to deliver on European Commission president Ursula von der Leyen's Green Deal to make the bloc the world's first carbon-neutral continent by 2050.
    The shift by BlackRock is substantial. The firm has long been a target of environmental activists who have staged protests outside of its headquarters in Midtown Manhattan. It has been hounded by some members of Congress who believe BlackRock could better address climate change with its vast economic heft.
    Because of its size and reach, any shift in focus by BlackRock has the potential for much wider ramifications. The firm has operations in dozens of countries and is often called the world's largest shadow bank.
    "Over time, companies and countries that do not respond to stakeholders and address sustainability risks will encounter growing skepticism from the markets, and in turn, a higher cost of capital," Fink wrote. "Companies and countries that champion transparency and demonstrate their responsiveness to stakeholders, by contrast, will attract investment more effectively, including higher-quality, more patient capital."

    Fucking Millenials and their naive, dreams, and feel-good do-nothing social and environmental causes!

    They'll never amount to anything! It's hopeless!

    They'll see once they get into the real world!

    They'll fall in line just like us selfish, entitled boomers! You just wait!
    Quote Originally Posted by XXX-er View Post
    the situation strikes me as WAY too much drama at this point

  3. #2978
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    shit is pretty awesome to watch
    watch out for snakes

  4. #2979
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    watch out for snakes

  5. #2980
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    watch out for snakes

  6. #2981
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    watch out for snakes

  7. #2982
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    More stories confirming.

    https://www.bbc.com/news/amp/business-51111727

    Climate change to drive 'massive' investment shift

    Concerns about climate change will drive a "fundamental reshaping of finance", one of the world's biggest money managers has said.
    Larry Fink, who runs BlackRock, said the shift will happen "sooner than most anticipate".
    His company has announced "sustainable" versions of its traditional investment options to meet demand from clients.
    It has also said it would push firms to disclose more about a range of issues, including climate commitments.
    While markets have been slow to reflect the worries about climate change, Mr Fink said the corporate world is now catching up.
    "Awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance," he wrote in an annual letter to chief executives.
    "In the near future - and sooner than most anticipate - there will be a significant reallocation of capital."
    In a letter to clients, BlackRock - which manages nearly $7tn in assets - said it was taking a number of steps to respond to the investment risks linked to climate change.
    In addition to the sustainable funds, it said its investors would be able to screen their portfolios for certain sectors.

    For actively managed funds, the company also plans to sell its holdings of companies that derive more than 25% of their revenue from thermal coal production by mid-2020.

    'Seriously consider sustainability'

    Even if only 5% of investors opt for sustainable strategies, it will still produce "massive shifts", Mr Fink said.
    "The commitments we are making today reflect our conviction that all investors - and particularly the millions of our clients who are saving for long-term goals like retirement - must seriously consider sustainability in their investments," he wrote in the letter to clients.
    But, he added: "The choice remains with you".

    The Sierra Club, an environmental group, said BlackRock's announcements were a "major step in the right direction" that will put pressure on competitors to take similar steps.
    But the fund manager continues to hold sizable investments in coal, oil and gas.
    And the Sierra Club said it would be watching to see whether BlackRock flexes its shareholder muscle in upcoming climate-related votes at the companies it invests in.
    "It is time to turn off the money pipeline to dirty fossil fuels for good," said Ben Cushing, the organisation's campaign representative.
    "BlackRock should expand on its commitments and other financial institutions should follow suit."

    Mr Fink's letter puts a spotlight on a growing trend among investors who worry about the industries they are funding.
    Investments in some "sustainable" funds jumped to $20bn in 2019, nearly four times the previous year's record, according to data from Morningstar.
    In the US, assets managed with sustainable investing strategies now represent more than a quarter of all investment assets under professional management, according to estimates by the Global Sustainable Investment Alliance .
    Fucking Millenials and their naive, dreams, and feel-good do-nothing social and environmental causes!

    They'll never amount to anything! It's hopeless!

    They'll see once they get into the real world!

    They'll fall in line just like us selfish, entitled boomers! You just wait!
    Quote Originally Posted by XXX-er View Post
    the situation strikes me as WAY too much drama at this point

  8. #2983
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    watch out for snakes

  9. #2984
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    https://www.nbcnews.com/business/bus...nance-n1115276

    BlackRock CEO says climate crisis will trigger 'a fundamental reshaping of finance'

    Climate change could be a bigger financial crisis than the 1970s inflation spike, the dot-com bubble and the Great Recession, BlackRock CEO Larry Fink said.

    The head of the world's largest money manager said the intensifying climate crisis will bring about a fundamental reshaping of finance, with a significant reallocation of capital set to take place "sooner than most anticipate."
    In an annual letter to fellow chief executives published Tuesday, BlackRock Chief Executive Larry Fink said: "Climate change has become a defining factor in companies' long-term prospects. ... But awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance."

    BlackRock's assets under management totaled almost $7 trillion in the third quarter of 2019.
    Fink's comments come as business leaders, policymakers and investors prepare to travel to Davos, Switzerland, for the World Economic Forum next week.
    The theme at this year's get-together, which is often criticized for being out of touch with the real world, has been designated"Stakeholders for a Cohesive and Sustainable World."
    "Climate change is almost invariably the top issue that clients around the world raise with BlackRock. From Europe to Australia, South America to China, Florida to Oregon, investors are asking how they should modify their portfolios," Fink continued.

    "And because capital markets pull future risk forward, we will see changes in capital allocation more quickly than we see changes to the climate itself."
    "In the near future — and sooner than most anticipate — there will be a significant reallocation of capital," he added.
    The United Nations has recognized climate change as "the defining issue of our time," with a recent report calling the crisis "the greatest challenge to sustainable development."
    "Over the 40 years of my career in finance, I have witnessed a number of financial crises and challenges — the inflation spikes of the 1970s and early 1980s, the Asian currency crisis in 1997, the dot-com bubble, and the global financial crisis," Fink said.

    "Even when these episodes lasted for many years, they were all, in the broad scheme of things, short-term in nature. Climate change is different."
    "Even if only a fraction of the projected impacts is realized, this is a much more structural, long-term crisis. Companies, investors, and governments must prepare for a significant reallocation of capital," he added.
    Australia has drawn global attention in recent months, with the country experiencing one of its worst bush fire seasons on record.
    Record high temperatures and drought exacerbated by the climate crisis have ignited blazes that have killed more than two dozen people and destroyed 2,000 homes since September.
    Fucking Millenials and their naive, dreams, and feel-good do-nothing social and environmental causes!

    They'll never amount to anything! It's hopeless!

    They'll see once they get into the real world!

    They'll fall in line just like us selfish, entitled boomers! You just wait!
    Quote Originally Posted by XXX-er View Post
    the situation strikes me as WAY too much drama at this point

  10. #2985
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    https://www.foxbusiness.com/markets/...llion-strategy

    $7T asset manager BlackRock to drop coal producers in climate push

    'I believe we are on the edge of a fundamental reshaping of finance,' CEO Larry Fink says

    "Climate change has become a defining factor in companies' long-term prospects," Fink's letter to CEOs reads. "Last September, when millions of people took to the streets to demand action on climate change, many of them emphasized the significant and lasting impact that it will have on economic growth and prosperity. ... Awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance."
    ...
    Fink adds that research by BlackRock, the UN's Intergovernmental Panel on Climate Change and others, including new studies on "the socioeconomic implications of physical climate risk" from management consulting firm McKinsey, point to a growing interest in making climate-savvy investments.
    The CEO then posed a series of questions related to climate change and investments, such as, "Will cities ... be able to afford their infrastructure needs as climate risk reshapes the market for municipal bonds?" and "What will happen to the 30-year mortgage – a key building block of finance – if lenders can't estimate the impact of climate risk over such a long timeline, and if there is no viable market for flood or fire insurance in impacted areas?"
    ...
    Last week, BlackRock joined Climate Action 100+, a group of several hundred investors with $41 trillion in combined assets who want to "align business strategy with the goals of the Paris Agreement."
    Fucking Millenials and their naive, dreams, and feel-good do-nothing social and environmental causes!

    They'll never amount to anything! It's hopeless!

    They'll see once they get into the real world!

    They'll fall in line just like us selfish, entitled boomers! You just wait!
    Quote Originally Posted by XXX-er View Post
    the situation strikes me as WAY too much drama at this point

  11. #2986
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    watch out for snakes

  12. #2987
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    What was that? Oddly mesmerizing.

  13. #2988
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    It's spring ice breakup on the Riviere Chaudiere, a major tributary of the St. Lawrence, above Quebec City. It's an annual thing obviously. A person shows up along the railing at around 10:25 and gives some scale to things, that ice is thick as shit. Like some of it must be 6-8 feet thick. Impressive.

  14. #2989
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    How about this one? some crazy-ass flash flood somewhere:



    I got questions and no answers

    edit: huh. switzerland. https://en.wikipedia.org/wiki/Illhorn

  15. #2990
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    https://www.nytimes.com/interactive/...gtype=Homepage

    So, did RJ finally Come To Jesus, or did his funding dry up?
    StokePimpin' ain't easy

  16. #2991
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    ^ You can almost sense all the climate deniers trying to come up with reasons why this still doesn't mean anything.

  17. #2992
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    Quote Originally Posted by The AD View Post
    ^ You can almost sense all the climate deniers trying to come up with reasons why this still doesn't mean anything.
    Just had that w an acquaintance “the sample set only goes back to a couple hundred years”. Argh

  18. #2993
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    Quote Originally Posted by rideit View Post
    https://www.nytimes.com/interactive/...gtype=Homepage

    So, did RJ finally Come To Jesus, or did his funding dry up?
    Yes, I realized it was a waste of time trying to argue with people that don't accept any differing views from what their political party tells them to think.

    (not talking about MV, because he at least makes an effort to understand some of the science)

  19. #2994
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    Quote Originally Posted by mcski View Post
    Just had that w an acquaintance “the sample set only goes back to a couple hundred years”. Argh
    A couple hundred year sample would be a huge improvement. The average temperature record making up their network is 60 years long, less that 50 stations have been operating continuously in the southern hemisphere from 1880-1950 with most of those located in SE Australia.

    The long term temperature record outside of the US and Europe is garbage.
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  20. #2995
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    Quote Originally Posted by ron johnson View Post
    Yes, I realized it was a waste of time trying to argue with people that are smarter than me and have observational skills not clouded by obtuse myopia.
    FTFY
    StokePimpin' ain't easy

  21. #2996
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    Quote Originally Posted by ron johnson View Post
    Yes, I realized it was a waste of time trying to argue with people that don't accept any differing views from what their political party tells them to think.

    (not talking about MV, because he at least makes an effort to understand some of the science)
    Oh the irony!
    No longer stuck.

    Quote Originally Posted by stuckathuntermtn View Post
    Just an uneducated guess.

  22. #2997
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    Quote Originally Posted by ron johnson View Post
    A couple hundred year sample would be a huge improvement. The average temperature record making up their network is 60 years long, less that 50 stations have been operating continuously in the southern hemisphere from 1880-1950 with most of those located in SE Australia.

    The long term temperature record outside of the US and Europe is garbage.
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    You do comprehend that there are other ways of tracking climate trends besides human observations from manual or automated stations?
    Ooof!

  23. #2998
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    Quote Originally Posted by ron johnson View Post
    Yes, I realized it was a waste of time trying to argue with people that don't accept any differing views from what their political party tells them to think.

    (not talking about MV, because he at least makes an effort to understand some of the science)
    I.e., "I realized you're not buying my snake oil and since I don't ski / snowboard, had no reason to keep hanging out here."

    Quote Originally Posted by ron johnson View Post
    (not talking about MV, because he at least makes an effort to understand some of the science)
    I.e., "debunks my half-truths." Also, I love how Ron keeps trumpeting how he's the only one who understands science. Like the 9/11 truthers saying "you just don't understand the metallurgy!"

  24. #2999
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    StokePimpin' ain't easy

  25. #3000
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    Quote Originally Posted by stuckathuntermtn View Post
    Oh the irony!
    I've never been supportive of Trump or the republican party in this thread. My views are that politics suck and you'd have to be a moron to identify as a democrat or republican.
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