CLIMATE BANKRUPTCY: CALIFORNIA’S GREEN ENERGY COMPANY GOES BUST — MORE TO COME
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Climate Depot | 2/5/2019 | Marc Morano
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Last week, California utility PG&E filed for Chapter 11 bankruptcy protection in the face of an estimated US$30 billion of possible liabilities related to the disastrous California wildfires in 2017 and 2018.

The climate crusaders of the mainstream media have been atwitter with claims that PG&E represents the “first climate bankruptcy.” That’s because PG&E’s power lines are believed to have sparked fires in dry vegetation, and that dryness was the result of an extreme drought due to climate change brought about by fossil-fuelled industrial society, and greedy, feckless oil companies. It’s a stretch.

Climate - Change - Threat - Companies - Health

That climate change is an existential threat to companies’ health has been a growing theme of the UN-based Climate Industry. The PG&E collapse will likely ramp up the already intense demands by climate activists for companies to confess that their business models fail adequately to reflect climate risk. Indeed PG&E has itself sought to blame climate change — that most nebulous and subversive of concepts —for its travails. But such a claim represents neither science nor policy guidance. It represents desperation.

One of the most prominent promoters of the disclosure of emissions and climate programmes is a London-based NGO named CDP (previously the Carbon Disclosure Project). But one problem for CDP’s credibility — and the whole notion that confessing to contrived carbon crimes is, as disclosure advocates claim, “just good business” — is that the now bankruptcy-threatened PG&E has been the very model of climate concern. CDP had dubbed it “one of the leading companies in the world when it comes to openly sharing public information on greenhouse gas emissions, emissions reduction targets, and the implications of climate change for its business.” Fat lot of good it seems to have done them.

CDP - Rankings - PG - E - Climate

CDP’s latest rankings note that PG&E’s climate score for 2018 is “forthcoming” (due to “methodological changes,” according to a...
(Excerpt) Read more at: Climate Depot
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