BBC: pension fund invested in climate companies

Sunday Express

If you’ve ever wondered why the BBC has been so biased towards the global warming movement, perhaps the UK Express has provided the answer. It appears that huge swathes of the BBC’s own massive pension fund is invested in companies “whose success depends on the theory [of AGW] being widely accepted.”

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 fund, which has 58,744 members, accounts for about £8 of the £142.50 licence fee and the proportion looks likely to rise while programme budgets may have to be cut to help reduce the deficit.

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.

Its chairman is Peter Dunscombe, also the BBC’s Head of Pensions Investment.

Prominent among its recent campaigns was a call for a “strong and binding” global agreement on climate change – one that fell on deaf ears after the UN climate summit in Copenhagen failed to reach agreement on emissions targets and a cut in greenhouse gases.

So if you were being cynical, you may think the BBC plugs the alarmist line in order to ensure the security of its own investments, which aren’t doing so well at the moment. Sounds like a serious conflict, undermining the Corporation’s editorial impartiality (and probably breaching its own guidelines).

Read it here. (h/t Jonathan S-B)

Comments

  1. Finally the putrid skin is falling off the rotting corpse that is the alarmist theory of Anthropogenic Global Warming. The true states of its innards are now being revealed and its stench is becoming unbearable.

  2. Thanks for that. I’m attempting to open the Norwegian Parliament and the Nobel Committee up to a little scrutiny, and have linked with this posting.

    http://mickysmuses.blogspot.com/2010/02/no-way-norway.html

  3. There is a MASSIVE conflict of interest. If you knew that your pension was being invested in enterprises that would be practically worthless if the AGW scam was exposed, do you think you would be willing to run news or articles that would expose the scam? And what if running news and articles that pumped up the value of your pension investments – would they get an airing?

    The £8billion BBC Pension Trust, the Environment Agency Pension Fund and the Universities Superannuation Scheme are members of the Institutional Investors Group on Climate Change (IIGCC). Media, Government and Universities! It’s almost unbelievable.

    IIGCC for its part is bankrolled and controlled by The Climate Group, a very powerful – perhaps the most powerful – lobby group for the Green agenda. The Annual report 2005/6 of The Climate Group declares in the notes to the accounts:

    “IIGCC: Funding to manage and facilitate the Institutional Investors Group on Climate Change, a network of pension funds and asset managers seeking to be active on climate change.”

    And also

    “In addition to these programmes, The Climate Group is supporting…the Institutional Investors Group on Climate Change (IIGCC), a network of 26 pension funds and asset managers focused on addressing climate risk. The membership of IIGCC voted unanimously to transfer the management of the group to The Climate Group in late 2005.”

    The Climate group says of itself:

    “we’ve created a coalition of governments and the world’s most influential businesses…Through this coalition, we’re helping to set the targets, create the policies, build the confidence, and generate the political willpower needed to make the changes the world requires…”

    But it also extends down to the humble consumer:

    “Together is The Climate Group’s consumer engagement campaign. First launched in the UK in April 2007, the campaign is the country’s leading climate change campaign.”

    The Climate Group has the following principles:

    “We believe…climate change is an urgent problem that requires an internationally coordinated, collaborative response directed at substantially reducing global GHG emissions…We will therefore strive…To achieve significant reductions in GHG emissions…exploring mechanisms such as emissions trading, policies and laws to facilitate this.”

    There’s more here about the web that Robert Napier has spun (formerly of WWF, now head of the Met Office).

    http://buythetruth.wordpress.com/2009/08/24/eco-imperialism-every-environmentalists-dream/

    In this post I asked the question why there hadn’t been a fuss kicked up about what Napier and his cronies have been up to. Now perhaps we know why – because peoples’ pensions rely on the myth of AGW being sustained. This state of affairs hasn’t just come about by chance. There can be no question that governments, the UN, and advocacy groups such as WWF have conspired to bring about this dreadful state of affairs.

  4. This is like General Electric pushing eco-green “planet friendly” low-energy lightbulbs – the ones laced with mercury that they sell – it’s all about the money.

Trackbacks

  1. […] The roundup of new UN IPCC blunders Why are we NOT surprised. BBC climate alarmism bias is simply because they had invested very heavily in climate alarmist industries! Talk about conflicts of interest! More here […]

  2. […] Media Invested In AGW? You’re Pulling My Tit, Right? Posted on February 7, 2010 by cbullitt Nope. And I would not surprised at all to learn our MSM made similar Faustian deals. […]

  3. […] Lots has been happening lately and the BBC has jumped in to try and stop the UK from realising that global warming isn’t happening, we remind ourselves their pension of course depends on this http://australianclimatemadness.com/2010/02/07/bbc-pension-fund-invested-in-climate-companies/ […]

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