Warren Buffett Is Wrong About Climate Change

From:  HuffPost 

Alexander C. Kaufman Senior Business Editor, The Huffington Post

Ben Walsh Business Reporter, The Huffington Post

Shahien Nasiripour Chief Financial and Regulatory Correspondent 

And here’s why it matters.

 

ASSOCIATED PRESS

You might not care whether insurance companies are thinking about climate change, but they’re a key piece of the puzzle when it comes to making the kinds of systemic changes we need to. 

 

Warren Buffett doesn’t want you to know how his empire is preparing to deal with the disastrous effects of climate change. In fact, he said in a letter released Saturday, he isn’t exactly sure this whole “climate change” thing is real, anyway.

In his annual letter to investors in his conglomerate Berkshire Hathaway, the billionaire investor fought back against a proposed shareholder resolution demanding his insurance subsidiaries measure and disclose the risks that climate change poses to their business and how the company is responding to the threat. Buffett compared fears over climate change to the brouhaha around apocalyptic Y2K predictions.

“It seems highly likely to me that climate change poses a major problem for the planet,” the 85-year-old wrote in the letter, released Saturday morning. “I say ‘highly likely’ rather than ‘certain’ because I have no scientific aptitude and remember well the dire predictions of most ‘experts’ about Y2K.” MORE