Your humble writer takes no pleasure in reminding readers that he told them so, but a post from last December now seems prescient. The post began:
In the wake of the United Nations Framework Convention on Climate Change (UNFCCC, or COP21), so-called “religious” shareholder activists are intent on ruining investments, crashing the economy and doubling down on their efforts to promote energy poverty throughout the world.
At that time, focus was on the Interfaith Center on Corporate Responsibility and the Church Investors Group, but now comes other groups of religious shareholder activists, As You Sow and Boston Common Asset Management (with a little help from their fellow religious friends at the Nathan Cummings Foundation, Trillium Asset Management, the Sisters of St. Francis of Philadelphia and Walden Asset Management), intent on making hay off COP21 pronouncements by spreading misinformation on hydraulic fracturing (fracking) in the group’s latest report, Disclosing the Facts: Transparency and Risk in Hydraulic Fracturing. Hoo boy.
Suffice it to say the report’s disclaimer is longer and far more detailed than those featured in pharmaceutical advertisements: (more…)