#Cleantech #Podcast – Berkshire Hathaway’s (NYSE: $BRK.A; $BRK.B) Pollution
Legacy Versus its Propaganda
October 10, 2023 - Investorideas.com, a global news source and leading investor
resource covering cleantech stocks issues a new edition of the Cleantech
and Climate Change Podcast.
Listen to the Podcast:
https://www.investorideas.com/Audio/Podcasts/2023/101023-Cleantech.mp3
Read this in full at https://www.investorideas.com/news/2023/cleantech-podcasts/10101Berkshire-Hathaway.asp
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to the cleantech and climate change podcast on Spotify
Transcript
Good morning . I touched on
Warren Buffets’ Berkshire Hathaway (NYSE: BRK.A; BRK.B)
pollution ratings in a
recent podcast, noting it was one of the top ten air polluters, ranking 9th according to the Political
Economy Research Institute for the Toxic 100 Air Polluters Index (2022 Report, Based on 2020 Data)
Also according to Political
Economy Research Institute they are ranked 4th in Greenhouse 100 Polluters Index.
Greenhouse 100 Polluters Index (2022 Report,
Based on 2020 Data)
(Click on column
headers to re-sort table: current sort is by Greenhouse 100 Rank.)
|
Percentage of 2020 U.S.
greenhouse gas emissions from all sources |
|||||||
|
1 |
95,036,473 |
1.6% |
12% |
40% |
14% |
Power Plants |
|
|
2 |
76,661,234 |
1.3% |
13% |
30% |
15% |
Power Plants, Other, Petroleum and Natural Gas Systems,
Waste |
|
|
3 |
75,880,072 |
1.3% |
14% |
49% |
23% |
Power Plants, Petroleum and Natural Gas Systems, Other |
|
|
4 |
67,213,495 |
1.1% |
13% |
37% |
17% |
Power Plants, Petroleum and Natural Gas Systems, Minerals,
Metals, Other |
Seeing this made me wants
to dig deeper and see what the reality of the company is versus its
environmental propaganda.
According to their
website, “Berkshire Hathaway
Energy’s core principle of Environmental RESPECT recognizes the importance of
minimizing the impacts our operations have on the environment, and we are
committed to using natural resources wisely and protecting our environment for
the benefit of future generations.”
Talking about ESG they say, “ESG/Sustainability-Sustainability is inherent
in Berkshire Hathaway Energy’s vision to be the best energy company in serving
our customers, while delivering sustainable energy solutions. Our
sustainability strategy focuses on reducing environmental impacts, supporting
our communities, embracing a diverse and inclusive workforce, and advancing
strong governance principles.”
Contradicting this is an
article from Cornell in 2022. Christopher Marquis is a professor in sustainable global enterprise at
the Cornell SC Johnson College of Business and author of Better Business: How the B Corp Movement Is Remaking Capitalism.
Marquis says Buffett’s resistance to sustainability practices and transparency
tarnishes his reputation.
Marquis says, “Buffett is
clearly trapped in the past. The days of companies being able to buttress their
profits by passing costs of their pollution onto society are numbered.
Investors, governments and consumers are increasingly demanding not only more
transparency on emissions, but also for companies to come up with credible
net-zero commitments. The longer he holds out, the more and more this will
tarnish his reputation as an investor and citizen.”
Apparently he is not
changing and neither is his company. In May of
this year, Reuters
reported, “Berkshire Hathaway Inc
shareholders on Saturday overwhelmingly rejected six proposals for
environmental, social and governance changes at Warren Buffett's conglomerate,
all of which the billionaire investor and his board opposed.”
“By margins of at least
3-to-1, shareholders voted against three proposals that Berkshire disclose more
about its climate-related risks or greenhouse gas emissions and efforts to
address them, and its efforts to promote diversity.”
So the irony is, he funds
the Bill Gates Foundation and AP
reported he has given the Gates
Foundation nearly $39.3 billion. It may even be more. And what does Bill Gates
profess to be as he attends global forums and offers his advice everywhere?...An
expert on Climate Change.
If all of this wasn’t true
it would be ridiculous.
For investors, note to self:
dig deeper than the corporate propaganda.
Thanks, that’s it for today. Do something good for this beautiful planet
each and every day.
If you would like to be a guest on this podcast and
tell your story please call me at 800 665 0411
Visit the Cleantech and Climate Change Podcast page at Investorideas.com
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