Tuesday, October 11, 2011

UN climate hoax chief: World stock markets not correctly assessing carbon dioxide threat; intervention by unelected government bureaucrats allegedly needed

Climate change not factored into companies' value, warns UN chief | Environment | The Guardian
Companies around the world are being valued incorrectly by world stock markets, because the cost of their exposure to climate change is not being factored in, the United Nations' climate chief has warned.

"As long as these companies [that emit large quantities of greenhouse gases] have a high value, we are giving out the wrong signals," said Christiana Figueres, executive secretary of the UN framework convention on climate change, told an audience of carbon finance specialists in London. "It has got to be that those companies that are investing in the technologies of the future are recognised."

She called for "an active valuation" of companies with high carbon emissions, saying the world was "far behind" in doing so. "How is it possible that the valuation is not keeping pace?"
"We are in this unfortunate vicious cycle where businesses are saying they need a signal, [such as a carbon] price, and governments are saying you need to give us the political space to do so," Figueres explained.
By the way, check out the helpful illustration of "black carbon smoke". 

Black carbon smoke pours out of a factory in Romania. Photograph: Andrew Holbrooke/Corbis

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