Activist Investors and CDP Worldwide are Skewing Canadian Investment and Energy Markets Based on Faulty Climate Change Definition says Friends of Science Society

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While Canada’s TransMountain pipeline faces public blockades, Friends of Science Society says Canadian energy industries are more damaged by the activist investors of United Nations Principles for Responsible Investment (UNPRI) and CDP Worldwide reports that have negatively affected investor, insurer and banking perceptions of Canada’s oil sands. Friends of Science says a fundamental faulty definition of climate change is to blame.

the unelected, unaccountable UNPRI and CDP Worldwide are acting and reporting recklessly and have done untold damage to the Canadian economy for no cause and should be held accountable

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While anti-oil activists harass Canada’s TransMountain pipeline expansion in British Columbia, CBC News reported on March 15, 2018 that the company was granted an indefinite injunction against pipeline protesters interfering on the work site, but Friends of Science Society says a more genuine issue affecting Canadian investment and energy markets is the climate change activism of UNPRI investors and arbitrary ratings of Canadian oil sands producers by the CDP Worldwide charity.

Friends of Science issued a report in April of 2016, criticising the Undue Influence of institutional investors.

The United Nations Principles for Responsible Investment (UNPRI) is an unelected, unaccountable, transnational organization made up of institutional investors that are signatories to six principles which claim to focus on climate change-related environment, social and governance (ESG) issues, says Friends of Science. LINK: unpri.org/pri/about-the-pri

Renewables advocate and investor Al Gore is a key UNPRI advisor on ESG.

Since the implementation of the Sept. 25, 2014 UNPRI Montreal Pledge, wherein UNPRI signatories agreed to a Portfolio Decarbonization, market sources tell Friends of Science that Canadian energy markets have lost investor interest.

According to the UNPRI 2016 Annual Report, a group of more than 60 investors signed a statement outlining investor expectations that company lobbying on climate change should reflect the ‘universally accepted goal of limited temperature rises to two degrees Celsius.” In addition, some 22 activist investors were coordinated by the UNPRI to lobby companies, singling out Australia, Canada and the US, whose public position is “…inconsistent with the positions of the trade associations it belongs to.”

Friends of Science Society says that the UNPRI and CDP Worldwide fail to meet Canada’s Competition Bureau’s standards on greenwashing, issued Jan. 23, 2017. It is misleading to suggest humans can stop the climate from changing, as explained by Dr. John D. Harper, FGSA,FGAC, PGeol., former director of the Geological Survey of Canada. LINK: http://www.youtu.be/e6UHTa5hzq0

In March 29, 2017, testimony to the US Senate by Dr. John Christy revealed that despite a significant increase in carbon dioxide, an Intergovernmental Panel on Climate Change (IPCC) graph shows that most warming is due to natural factors.

Consequently, Friends of Science Society says the investment community standard of ‘continuous disclosure’ should apply – meaning that there is sound evidence that carbon dioxide from human emissions is not the control knob on climate change.

Likewise the unelected, unaccountable, transnational charity - the Rockefeller Carbon Disclosure Project - now renamed "CDP Worldwide" - issued a damaging report in November of 2016 which downgraded the Alberta Oil Sands operators, ranking participating companies at the bottom of the list, despite Alberta having the highest environmental standards in the world.

Weeks later, Norway’s Statoil pulled out of the oil sands as reported by the National Observer, Dec. 14, 2016.

By spring of 2017, a major exodus was under way by investors, financiers, bankers and insurers driven by CDP Worldwide rankings and UNPRI focus on the faulty 2°C greenhouse gas reduction target.

Friends of Science Society says these ‘low carbon’ and 2°C target climate change principles are founded in an attachment to the political definition of climate change, not the scientific definition, as discussed in Roger Pielke, Jr. 2005 paper entitled “Misdefining Climate Change: Consequences for Science and Action.”

Friends of Science Society says the unelected, unaccountable UNPRI and CDP Worldwide are acting and reporting recklessly and have done untold damage to the Canadian economy for no cause and should be held accountable for the damage done.

About

Friends of Science Society is an independent group of earth, atmospheric and solar scientists, engineers, and citizens who are celebrating its 16th 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
P.O. Box 23167, Mission P.O.
Calgary, Alberta
Canada T2S 3B1
Toll-free Telephone: 1-888-789-9597
Web: friendsofscience.org
E-mail: contact(at)friendsofscience(dot)org
Web: climatechange101.ca

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Michelle Stirling
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