All eyes seem to be directed toward Rome last week as the Pope weighed in on climate change. As anticipated, there has already been a lot of spinning by the whirling dervishes of the zealous variety– doubling down on their over-the-top, pre-release spin.
Yes, it’s a given both sides of the climate-change debate are spinning, but as your writer is on the skeptical end of the spectrum it seems the other end is receiving the majority of media coverage. Skeptics? We’re castigated as “deniers,” “Republicans,” and, of course, “anti-science.” Ouch! No worries, however, as we skeptics have grown accustomed to ad hominem attacks, not to mention pseudo-science, false claims of a scientific consensus agreeing on human-caused global warming, and accusations we’re performing the bidding of Faux News. Hoo boy, as Boris Badenov used to say.
Allow me a bit of schadenfreude when I report the consistent defeat of so-called religious-based shareholder activism deployed against oil and gas companies – on which more below. I take pleasure in these persistent defeats not because I dislike my loyal opposition as much as they dislike skeptics but because I’m convinced the best way to lift the poor from poverty and incumbent disease, hunger and illness is cheap and readily available fuels. It’s not about winning an argument from my point of view inasmuch it’s about enabling the world’s poorest to attain self-sufficiency, health, and comfort – mostly because I recognize the world’s poverty has been halved in the past 20 years, largely due to affordable fuels.
And yet… Elizabeth Douglass at InsideClimate News reports religious shareholders are persistent in their failed efforts to deep-six economically the companies in which they invest. Douglass trots out the usual suspects: Timothy Smith of Boston-based Walden Asset Management; Sister Patricia Daly of the Roman Catholic Sisters of St. Dominic of Caldwell, N.J.; and Rev. Michael Crosby from the Province of St. Joseph of the Capuchin Order in Milwaukee. Daly and Crosby, notes Douglass, “have worked together for years as active participants in the Interfaith Center on Corporate Responsibility (ICCR), a New York group whose members manage more than $100 billion in assets.” Douglass continues:
For the past few years, several climate resolutions at Exxon have won more than a quarter of the shareholder vote, and sometimes nearly a third. The vote count reached a remarkable level of backing for proposals opposed by management, according to Heidi Welsh, executive director at the Sustainable Investments Institute, a Maryland-based nonprofit that provides impartial analysis of social and environmental policy shareholder resolutions.