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From a meeting this week, with a highly respected ESG-focused industry expert (top 15 global investment bank) who wishes to remain anonymous
ESG Expert: “It is a fact that the earth’s atmosphere consists of Nitrogen (N2) 78.084%, Oxygen (O2) 20.946% and Argon (Ar) 0.934% = 99.96%.
The remaining 0.04% of the atmosphere is made up of trace elements including water vaper (H2O), Neon (Ne), Helium (He), Methane (CH4), Krypton (Kr) and Carbon Dioxide (CO2).”
JWS: “Then in your professional opinion, does the +/- 0.03% of CO2 in the atmosphere represent the actual threat to climate change?”
ESG Expert: “No, absolutely not. But climate change is very real, it is now, and it is already delivering hugely destructive consequences.”
JWS: “So if it not the de minimis CO2 component, do you know what is actually responsible for climate change?”
ESG Expert: “Yes I do.”
JWS: “Will you tell me?
ESG Expert: “No, absolutely not.”
JWS: “Then I won’t tell you either.” (both laugh … nervously)
Global Macro
Independent Research – Original Content
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