Denying climate change will cost ya financially

In the new world of alternative facts, US President Donald Trump has called climate change a hoax and has proposed significant cuts for the US Environmental Protection Agency, while considering withdrawing from the Paris Agreement, which 190 countries signed up to in order to cut global warming.

So Outsider wonders what Trump’s response would have been to a recent discussion held by BetaShares managing director, Alex Vynokur and chair of Asset Owners Disclosure Project, Dr John Hewson. They said investors were increasingly recognising that there was a financial risk involved in climate change. Furthermore, climate change was now the largest consideration for many investors and advisers.

Younger investors are particularly hopping on the sustainable investing bandwagon and they want to be able to relate to a cause when they invest.

Related News:

To quote the very wise Sideshow Bob from The Simpsons, “treat kids like equals, they’re people too!”

Hewson, who was the federal leader of the Liberal Party and leader of the opposition from 1990 to 1994, said even the Australian Prudential Regulation Authority (APRA) had changed its mind and said climate change could threaten the entire financial system, and acknowledged super fund trustees and directors had a personal fiduciary responsibility to manage those investments.

Now, Mr Trump considers himself an astute businessman. Outsider wonders whether his stance on climate change would alter given the financial implications and the fact that fiduciary responsibility rests with fund managers.

Somewhere across the Pacific Ocean, Outsider can hear a chorus of “fake news!”




Related Content

DomaCom housing project targets retiring Baby Boomers

DomaCom has signed an agreement with property developer Akuna Lifestyle Estates to build a resort-style residential estate aimed at Baby Boomers movin...more

When two Wrights create a wrong

The Australian Securities and Investments Commission (ASIC) has had a win against the Administrative Appeals Tribunal (AAT) with the Federal Court set...more

New wealth app launched

A team of industry veterans has brought another app to market aimed at helping people manage their wealth.The BigFuture app, is the work of the compan...more

Author

Comments

Add new comment