New Reports Challenge SHARE on Climate Change Risk and ‘Denial’ for Pension Fund Trustees and Corporate Boards

Friends of Science Society has issued two new reports. The first entitled “Climate Change Risk Clouds Boardroom Competency” challenges a recent report by SHARE – Shareholder Association for Research and Education. SHARE claims energy and utility corporate boards should have ‘climate change competent’ directors. Climate change is a complex interdisciplinary field far removed from the core business of corporations.


“Climate Change Risk Clouds Boardroom Competency”


Cover images licensed from Shutterstock

The second report is entitled “Climate Change Insights for Pension Fund Trustees and Beneficiaries.” This document disputes an earlier SHARE report by law firm Koskie Minsky LLP,  telling pension fund trustees “climate change denial is not an option.”

Based on Friends of Science Society’s research and in our opinion, due to the influence of tax-free pension funds, Sovereign Wealth Funds, other institutional investors and union beneficiaries, taxpayers are being forced to accept policies based on climate change ideology, not evidence. These investor-promoted policies will enrich tax-free institutional funds at the expense of non-beneficiary taxpayers.

This SHARE report was funded by the West Coast Environmental Law Foundation, an environmental group supported by some of the same foundations that are also signatories to a letter to Premier Notley on climate policy.


“Climate Change Insights for Pension Fund Trustees and Beneficiaries” 


Friends of Science Society question the propriety of unelected, unaccountable tax-free investors, collaborating to change public policy, over the wishes of the electorate.


  1. Jeffery Green

    Our climate is changing from human influence. It would be wise to make sure our investments don’t go south from a foolish mistake that could of easily been avoided.

    “Left unchecked, our current climate path jeopardizes our ability to live on planet Earth,” says Murray Gold, Managing Partner of Koskie Minsky LLP. “The challenge can only be addressed by concerted governmental action at the international level, but pension fund trustees, as asset owners and investors have a crucial role to play. Climate change is a significant investment risk for pension plans which must be taken into account and which trustees can mitigate through public policy engagement.”

    • catweazle666

      “Our climate is changing from human influence.”

      Not significantly.

  2. Jeffery Green

    Nobody wants to see their nest eggs go south. You want your money stable in an upcoming climate world. If you read deeper into each area, there are vulnerabilities. Two areas I am aware of are chocolate and coffee. These will have to move to cooler regions to do well for the farmers and consumers alike. These industries are already planning for climate and feeling the effects of climate change on their crops.

    Agricultural Risk
    This risk could be the result of many scenarios described above; most crops have a specific list of needs and climate factors that must be met to grow. And because food is an absolute necessity, any shortages will lead to severe price increases and eat away at the discretionary income for ordinary consumers.

    Energy Risk
    If carbon taxes, market-based carbon trading or the like is implemented, energy costs could rise dramatically. It may become relatively cheaper to create or purchase alternative energy for both businesses and individuals.

    Property Risk
    This will affect various industries in different ways, but all will be affected if higher property/casualty insurance becomes widespread. Insurance costs are already on the rise in certain geographic areas seen as high risk, and these trends will continue.

    Litigation Risk
    If regulations on carbon-based emissions become more stringent, we will see more litigation against major offenders to the environment. Obvious targets include the major carbon-emitting industries, like energy, forestry, transportation and agriculture.

    Risk to Climate-Based Industry
    Tourism revenue is typically skewed toward coastal areas and temperate climates. Many of these areas are at the highest risk to be affected by major weather incidents and broad global warming.

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