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Michael Shellenberger

18 Sep, 13 tweets, 4 min read

@handelsblatt

Top German newspaper @handelsblatt blows whistle on renewable energy scam

- wind & solar energies have massive environmental footprint

- "ESG" eco-criteria = greenwashing

- "Now the US Securities and Exchange Commission (SEC) is investigating"

handelsblatt.com/finanzen/anlag…

- "This is a wake-up call for the entire industry" says former head of German pseudo-sustainability fund turned whistleblower.

- "Former head of sustainable investing Blackrock, Tariq Fancy, calls ESG boom a "dangerous placebo"

https://twitter.com/ShellenbergerMD/status/1397975799219712000?s=20

"Sustainable investments make investors feel like they can invest in something 'good' while earning attractive returns. The industry had a lot of leeway to define the ESG criteria in such a way that they fit the respective providers."

Background:

https://twitter.com/ShellenbergerMD/status/1397975799219712000?s=20

- According to whistle-blower, "material misrepresentations around ESG could be classified as securities fraud, just as is the case with misrepresentations of other data sets."

- Board of German ESG fund, DWS, "knew about the discrepancy between external & internal statements"

DWS whistleblower "verbal objections she had made to the annual report before publication, including how many assets were under ESG integration, were never included. She said she was fired because she was too vocal about problems."

wsj.com/articles/fired…

All "ESG" (enviro, social, governance) criteria rest upon falsifiable claims that renewables are better for environment

"There is no official standard for when a stock or bond can be classified as sustainable"

Renewables & ESG are a house of cards that will collapse

"I believe that the risk for the entire financial industry is extremely high without uniform standards. When investors get the feeling that people are fiddling, that someone is taking advantage of their clear conscience, we as an industry have a problem"

handelsblatt.com/finanzen/anlag…

Wind & solar industry full of fraudsters and cheats

Worse, "A criminal record does not prevent [renewables developer] from trying again. If he once advertised wind energy as Prokon boss, he now makes solar."

SMH

handelsblatt.com/finanzen/anlag…

The growing evidence of fraud in the wind and solar industries is one of the biggest business stories in the world

Finally, governments are cracking down on it and journalists are starting to cover it

dailymail.co.uk/news/article-9…

“It’s very evident that green energy scams are truly evergreen,” said the senior vice president of investor education at the Financial Industry Regulatory Authority, a not-for-profit organization, supervised by the Securities and Exchange Commission

nbcnews.com/news/us-news/h…

The scams are global

ansa.it/english/news/g…

I am investigating green energy scams for my next (third) book for HarperCollins

If you have information about malfeasance you can contact me on Signal, Telegram, email, What's App

I respect all confidentiality

My DMs are open

“The wind power business appears to be an activity where the strengths of criminal organizations find fertile ground … the need for capital, control of the territory and the ability to influence authorities, presence in the construction sector”

lavoce.info/archives/60305…

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Michael Shellenberger

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https://twitter.com/RogerPielkeJr/status/1433449658139832323

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