Monday, January 20, 2025

Stampede to the Exit

According to influential financial analysts, the era of ESG (concern for environmental, social and governance issues) is over. The model is already in retreat, but when Trump takes the helm we will see a "stampede to the exit". After all, any corporation will be at a "competitive disadvantage if you don't end all that stuff." No matter how much gloss you want to put on it, COP 29 was a disaster in the sense that time is running out and there is still zero sense of urgency. Stalling and posturing and dissembling followed by lofty pronouncements. Sound familiar? As the analyist succinctly puts it: "It doesn't matter if it's ( meaning ecological breakdown) is real or not, because the occupants of this planet are not going to do anything about it. Brace yourself for impact, we are going to run the experiment." What he means by "brace" is position yourself to make as much money as possible in the time remaining. A rather insane, fatalistic cynicism, grasping for justification as the rational means to promote development forA the needy poor people of the planet. He continues: "If it is as calamitous as they (science, physics) claim it is going to be we will have to deal with such impacts as they arise.Because that is what is going to happen." The "we" he is talking about has already shown how it plans to deal with impacts. Push costs ( human sufering and monetary) off onto the periphery (those least responsible). Live it up while the band plays on then grab a lifeboat and shove off. The Doomberg Postulate: Every molecule of fossil fuel will be burned by somebody somewhere. Climate change is a "narrative" you can choose to adopt or reject. All those "green" capitalists will burn through their subsidies and find themselves building more solar-powered sweatshops in order to compete. And the end game, you ask? Sorry. There isn't one.

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