Kerry laments money managers have fiduciary duty to those who own the money
John Kerry (Video screenshot)
John Kerry, Joe Biden's hand-picked climate change envoy who uses jets – often private jets – to travel the world and lobby for the "green" energy ideology, is lamenting that money managers can't give as much to global warming as he'd like.
It seems they have a fiduciary duty to those people who actually own the money.
In a recent interview following a briefing for Joe Biden and leaders of other governments on the topic, he said investment into the transition he insists in needed to green energy has been undercut because money managers "have a fiduciary responsibility, an obligation to the people they manage it for not to lose the money, but to produce returns on that investment."
Likewise, he lamented that pension funds "are very careful about those investments in order to make certain they have the money to pay out to the pensioners who work for that money all their lives."
Kerry, who personally is worth hundreds of millions of dollars, told those who manage large amounts of money they need "to help us create the structure" so that more money is spent on climate change.
A report at Breitbart explained Kerry was asked what's keeping money from doing what he wants.
He said, "What’s preventing it is, to some degree, fear, uncertainty about the marketplace. People who manage very significant amounts of money have a fiduciary responsibility, an obligation to the people they manage it for not to lose the money, but to produce returns on that investment. Pension funds, many of them, are very careful about those investments in order to make certain they have the money to pay out to the pensioners who work for that money all their lives. So, there are tricky components of making sure that you have taken the risk away from these investments. And energy, which is what the climate crisis is all about, it’s about energy, it’s about how we fuel our homes, how we heat our homes, how we light our factories, how we drive and go from place to place."
He was being interviewed on MSNBC by Ana Cabrera.
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Kerry claimed "emissions from the burning of fossil fuels [are] not being captured, it goes up into the atmosphere, and it’s warming the planet, increasingly more and more and more dangerously."
He said either those emissions need to be eliminated, or captured.
He didn't address the fact that a vast majority of those emissions are coming from energy plants and factories across the vast expanses of China, which is opening new coal-fired power plants on a regular basis, so that no matter what the U.S. does regarding emissions, it has virtually no effect on the worldwide levels.
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