Perhaps because ‘climate change’ is fake, and in the wake of a real issue, the Coronavirus, the market will focus on real stuff
Equity markets have generally ignored the increasing number of natural disasters over the past 50 years and tougher rules are needed to make investors aware of the dangers posed by the climate crisis, the International Monetary Fund has said.
Companies should be forced to disclose their exposure to climate risk because a voluntary approach does not go far enough, the IMF said in a chapter from its latest global financial stability report (GFSR).
The Task Force on Climate Related Financial Disclosures, an initiative led by Mark Carney, the former Bank of England governor, outlines how companies should calculate and disclose their exposure to climate risk to investors.
In other words, companies and markets mostly aren’t interested in joining the Cult of Climastrology nor even wasting time on this stuff.
The IMF, however, said in a GFSR published on Friday that climate risk should ultimately be made part of international reporting standards.
“An increasing number of firms have begun to voluntarily disclose climate change risk information, in line with the recommendations set out by the taskforce on climate-related financial disclosures” it said.
“However, going further by developing global mandatory disclosures on material climate change risks would be an important step to sustain financial stability. In the short term, mandatory climate change risk disclosure could be based on globally agreed principles. In the longer term, climate change risk disclosure standards could be incorporated into financial statements compliant with international financial reporting standards.”
So, some companies have complied, but now the Cult wants even more. Go figure.
“While projections of climatic variables and their economic impact are subject to a high degree of uncertainty, aggregate equity valuations as of 2019 do not appear to reflect the predicted changes in physical risk under various climate change scenarios”, the IMF said. “This suggests that equity investors may not be paying sufficient attention to climate change risks.”
Weather has always happened, and always will. But it is now caused by witchcraft, you know.
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