Climategate, UK Edition: Following the Money, All €4 Trillion of It

Climategate, UK Edition: Following the Money, All €4 Trillion of It

 There’s a question oft-posed by the proponents of global warming… or of “climate change,” as the new term of art has it, thus allowing warmists to claim both the snowstorm now blanketing America’s East Coast, as well as the melting of that snow, as evidence for their theory.

“To what end?” the warmists ask the skeptics. Or, in the lingua franca of conspiracy theorists everywhere: “Cui bono, my friend, cui bono?”

Well, lots of people are benefiting from the practical implications of this theory. There’s Nobel Laureate Al Gore for one, who is on track to become the first green billionaire:

Then, at the UN there is the organization that shared Gore’s Nobel Prize, the IPCC, and its controversial director Dr. Rajendra Pachauri, a railway engineer with no back ground in climate science who lives what has been described as a lavish lifestyle in Delhi. Publicly he oversaw a report issued with the imprimatur of the UN that the Himalayan glaciers that feed India’s rivers will have melted by 2035. Privately he has been acting as a director or advisor to a score of companies, including Pegasus Capital Advisors, GlorOil, Toyota, and Deutsche Bank, as revealed by Christopher Booker of the Telegraph here and here.

But hard-core warmists, intent on skepticizing the skeptics, invariably ask: “why would the media go along with this poppycock?”

Yes, why are the media so invested in the warming notion, given the countervailing evidence, the fact that the last climate theory (the global cooling scare of the 1970s) was so quickly disproven, and that it is self-evident that CO2, that most persecuted of molecules, is essential for life… for plant life. (When an elephant sighs, a tree smiles.)

Well, the BBC, a prime proponents of warming theory, or AGW, has heavily invested its pension fund in the theory, and thus have had a major non-Scientific reason for their bias. As revealed this weekend in The Express:

The corporation is under investigation after being inundated with complaints that its editorial coverage of climate change is biased in favour of those who say it is a man-made phenomenon. The £8billion pension fund is likely to come under close scrutiny over its commitment to promote a low-carbon economy while struggling to reverse an estimated £2billion deficit. Concerns are growing that BBC journalists and their bosses regard disputed scientific theory that climate change is caused by mankind as “mainstream” while huge sums of employees’ money is invested in companies whose success depends on the theory being widely accepted. The BBC is the only media organisation in Britain whose pension fund is a member of the Institutional Investors Group on Climate Change, which has more than 50 members across Europe.

The IIGCC is an interesting group. As their website explains:

The IIGCC is a forum for collaboration on climate change for European investors. The group’s objective is to catalyse greater investment in a low carbon economy by bringing investors together to use their collective influence with companies, policymakers and investors. The group currently has over 50 members, including some of the largest pension funds and asset managers in Europe, and represents assets of around €4 trillion.

Wait… I hate to be a skeptic, but did they just say… “Four Trillion Euros”?

They did.

The Chairman of IIGCC investment group is Peter Dunscombe, who also happens to be the BBC’s Head of Pensions Investment.

Cui bono, my friend, cui bono?
Read original for links: http://bigjournalism.com/otockfield/2010/02/12/climategate-uk-edition-following-the-money-all-e4-trillion-of-it/