As copper reaches $10,000/t, an
essential component for all things NetZero, the Canadian banking
sector presses on with mandatory climate risk disclosures and a
NetZero obsession, says Friends of Science Society. Green bubbles
are about to burst; much needed pragmatic voices like Dr.
Judith Curry's "Climate Risk and
Uncertainty" can break the spell.
CALGARY,
AB, May 9, 2024 /PRNewswire-PRWeb/ -- On
April 27, 2024, the National Post
published an op-ed by Conrad Black,
titled "Washing Away the Climate Lunatics – Canada at risk of turning into Europe" which referred to "Europe's NetZero Rebellion," a recent Friends
of Science Society event.
..those promoting trends in economic
impacts of floods and other extremes as evidence of human-caused
changes in climate are peddling misinformation.
On May 02, 2024, Canada's Office of the Superintendent of
Financial Institutions (OSFI) ran a webinar explaining its recently
mandated climate risk reporting from all the banks and financial
institutions as well as the insurers that it oversees, oblivious to
the changing public and market mood on NetZero. Dr. Simon Michaux has shown that the material supply
chain to reach NetZero does not exist. A recent Canadian report has
shown that "Getting to NetZero" means degrowth and poverty for
Canadians.
Climate scientist Dr. Judith
Curry presented "Climate Uncertainty and Risk" to the Global
Warming Policy Foundation, also on May 02,
2024, offering a much more nuanced and pragmatic scientific
view of climate change. Curry notes that economic stability and
strength are necessary to address climate risk through adaptation.
Thoughtful debate, not dogmatic directives make for constructive
solutions.
Green bubbles are about to burst, says Friends of Science
Society. While the IEA issued an EV Outlook 2024 report in April,
filled with much optimism for electric vehicle growth and
affordability, at the same time Mining.com reported on April 26, 2024, that copper hit $10,000/ton market price, meaning affordability
for all things NetZero becomes impossible.
On May 06, 2024, the Financial
Times reported that governments were slapping large taxes on EV's
to make up for $110bn in fuel tax
shortfall. On April 22, 2024, The
Telegraph reported that UK EV car demand had plunged and EVs were
being sold at record discounts. Australian science blogger
Joanne Nova posted that "Suddenly
everyone is backing away from EVs." Dr. Benny Peiser of the Global Warming Policy
Foundation of the UK noted in an interview of April 09th, 2024, that without subsidies, NetZero
'solutions' like wind, solar, and EVs face bankruptcy. On
May 04, 2024, Le Monde reported that
Belgium's ports are drowning under
a glut of Chinese EVs, some parked for over a year.
The New York Post reported on Feb. 15,
2024, that big financial players like JP Morgan and
Blackrock have left the "Climate 100 Alliance" over various
concerns related to ESG losses, risk of legal action over
contentions of collusion. Yet in May
2024, Canada's OSFI pressed
on with imposing climate risk disclosure, unconcerned that
mandatory climate risk reporting, with all institutions using the
same template, might create unintended market distortions.
Curiously, OSFI's guidelines are focused on wildfires and
flooding, both of which are seasonal occurrences and not
particularly related to climate change, says Friends of Science
Society. Friends of Science references two plain language
commentaries by Roger Pielke, Jr.
who cites the Intergovernmental Panel on Climate Change (IPCC).
Roger Pielke, Jr. is a long-time
disaster and risk analyst for the insurance industry and well-known
climate policy analyst as well.
In What the media won't tell you about wildfires, Pielke, Jr.
starts off by stating that "The IPCC has not detected or attributed
fire occurrence or area burned to human-caused climate change."
In his post "Unbelievable: US Flood Damage" Pielke, Jr. finds
that the data shows "The United
States is in fact more resilient to flooding than it has
ever been.
He notes: "If you want to explore climate trends, look at
climate data not economic loss data. But it does tell us that those
promoting trends in economic impacts of floods and other extremes
as evidence of human-caused changes in climate are peddling
misinformation."
Home owners and communities can prepare for and greatly reduce
wildfire season by adopting FireSmart (Canada) or FireWise (USA) recommendations for their respective
communities. Friends of Science Society's explainer video discusses
the wildfire issues that Kelowna
faced last year.
In the recent Basel Core Principles for Banking Supervision,
climate risk reporting was recommended, and it included
reputational risks. Friends of Science Society suggests that the
reputational risks from promoting NetZero nonsense may be far more
detrimental to the financial community than climate change
impacts.
About
Friends of Science Society is an independent group of earth,
atmospheric and solar scientists, engineers, and citizens that is
celebrating its 21st year of offering climate science insights.
After a thorough review of a broad spectrum of literature on
climate change, Friends of Science Society has concluded that the
sun is the main driver of climate change, not carbon dioxide
(CO2).
Friends of Science Society
PO Box 61172 RPO Kensington
Calgary AB T2N 4S6
Canada
Toll-free Telephone: 1-888-789-9597
Web: friendsofscience.org
E-mail: contact(at)friendsofscience(dot)org
Web: climatechange101.ca
Media Contact
Michelle Stirling, Friends of
Science Society, 8887899597, media@friendsofscience.org,
https://friendsofscience.org/
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SOURCE Friends of Science Society