Cleantech Podcast - Berkshire Hathaway's (NYSE: BRK.A BRK.B) Pollution Legacy Versus Its Propaganda

(MENAFN- Investor Ideas) Investorideas, a global news source and leading investor resource covering cleantech stocks issues a new edition of the Cleantech and Climate Change Podcast .

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Cleantech Podcast - Berkshire Hathaway's (NYSE: BRK.A; BRK.B) Pollution Legacy Versus its Propaganda October 10, 2023


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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.)

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

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