At Apple shareholder’s meeting, Tim Cook tells off climate change deniers
arstechnica.com
arstechnica.com
"Too often investors look at short-term returns and are unaware of corporate policy decisions that may affect long-term financial prospects. After today's meeting, investors can be certain that Apple is wasting untold amounts of shareholder money to combat so-called climate change. The only remaining question is: how much?" [1]
Let's all ignore climate change. Clearly that would give us better long-term financial prospects. And will definitely not be a huge economic disaster.
[1] http://www.nationalcenter.org/PR-Apple_Tim_Cook_Climate_0228...
1. http://www.nationalcenter.org/NPA388.html
2. http://www.sciencemag.org/content/295/5554/476.abstract
http://web.archive.org/web/20050414163144/http://www.nature....
http://web.archive.org/web/20050414163147/http://www.nature....
3. http://web.archive.org/web/20030930182136/http://www.prwatch...
http://www.nationalcenter.org/NPA198.html
4. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a9s0n...
http://www.chron.com/news/nation-world/article/Think-tank-he...
http://www.nytimes.com/2005/06/23/politics/23indian.html?_r=...
The word demanded seems to be a very very strong statement. It's almost like a command. I'd be really surprised if that was really the word NCPPR used in the letter. encouraged, or suggested would be better. What power does NCPPR has over Apple to demand Apple to take action X?
To climate change deniers out there: while there is a natural part of climate change (as Sun continues to burn, the surface temperature continues to increase and eats the golden green zone between Earth and Sun and eventually will boil Earth one day), wastes produced by humans are also contributing climate eliminate changes.
And even if climate change is a scam, I'd rather to feel safer, knowing we are using clean energy than breathing air full of hazardous particles and wait for disaster to come. A lot of the changes and proposed changes to defend climate change actually makes life better. Just think about ways to protect underground subway system and electricity from flooding and securing the harbor from potential sea level rise. Use recycled papers rather than cutting down new trees all the time. Conversing water and finding new reusable energy resource to sustain the on-growing population. All these shits (excuse my Chinese here) are either directly or indirectly a result of learning about climate change and Earth sustainability. And guess what? They are new business opportunity.
http://files.shareholder.com/downloads/AAPL/2993150551x0x717...
This is the reason greenpeace and similar target apple publicly, even though apple was already doing much of what they were asking for.
Now you have changed the investors' dispositions from "panicked" to "concerned". Assume that 100% of shareholders are "concerned" about the stock. It still follows that, at best, only 2.95% of shareholders are "concerned" about this particular information.
Source: http://www.businessinsider.com/two-charts-show-why-apple-sto...
I don't think you have much of a point here. Apple is priced on a presumption by Mr. Market that it will never have another major product line and associated high-growth revenue stream. The price has little to nothing to do with its sustainability investments, because they have no impact on its ability to create another breakthrough. (In other words, Apple's future success is clearly not due to capital constraints. Knowledge constraints are the limit.)
Correction: some investors are panicked about the future of the stock. This is my favorite cartoon that describes how those investors operate: http://imgur.com/vuDioSI
(Disclosure: I don't have a position in Apple.)
[0] http://finance.yahoo.com/blogs/talking-numbers/why-apple-cou...
[1] http://invezz.com/news/equities/9079-apple-share-price-barcl...
The effect on global warming is near zero, possibly even negative. The decision to use green energy decreases the price of non-green energy, so other companies will buy more of it.
I really don't like how unsystematic and non-transparent this approach is. A clean solution would be a tax on non-green energy. It would make the economy-environment tradeoff very clear.
By implementing these policies Apple can show leadership and influence their peers and support the clean energy industry. This is the right thing to do.
That's a first-order effect. But second-order effects of the price changes include encouraging investment in green energy and discouraging investment in non-green energy. That will shift the long-term incentives for all market participants.
Considering that the market for fossil fuel energy is so much larger than that for renewable energy, I'm going to say that Apple's choice will have a bigger positive effect on the renewable sector than on prices for non-renewable energy.
Heavily taxing energy for any reasons always leads to lower economic growth and unemployment. That is because no tax applies globally, so there are always places to move to access the cheapest energy. And usually the places that production one to have lower environmental controls on energy production, leading to a net-worse position for the environment and the people where the production used to be.
Australia implemented the highest 'carbon tax' in the world in 2012. This contributed to the closing of several heavy industry factories within 12-18 months, including aluminum shelters. These factories have all been relocated to places like china and Saudi Arabia, with net-worse outcomes for the environment as a result, and a weaker economy in Australia. A region-specific energy tax is a bad idea because it achieves none of its goals, and measurably makes things worse.
Trade exposed heavy industry was largely sheltered from the tax. In fact some argued the free permits were actually going to deliver windfall profits. There was a story recently about the closure of Alcoa's Point Henry aluminium smelter, but the company denied there was any link to the carbon tax.
This isn't really about Apple, it is more about the Retail Industry Leaders Association (RILA) of which Apple is a member and the NCPPR going after them. NCPPR isn't some new organization, so they have a lot of things on their agenda (consider nuclear missiles were once an item on it).
Not saying their right or wrong on this one, mostly just saying Ars Technica did its usual crappy job on anything with a political bent. They don't seem to do much research into the who or even try to interview anyone.
"When we work on making our devices accessible by the blind," he said, "I don't consider the bloody ROI."
So, by all means, let's tell off the deniers, expand solar and wind, reduce coal, even make lifestyle gestures -- but put the bulk of effort into researching safe nuclear power and researching geo-engineering. (Unless I'm misreading the situation, there seem to be taboos around both at present.)
Not only is it broken into two images, there's a br tag causing most of the misalignment. Also, the two splices don't have the same height. I've checked this in chrome, firefox, and ie 7-10 and it doesn't work in any of them.
http://www.theihs.org/koch-summer-fellow-program/host/nation...
Oh, btw: consider the source...
1) or not
There's a similar group with a similar agenda who trolled GE after GE announced some kind of wind power initiative. I don't know how much stock they owned but given GE's market cap at the time, I'm sure it wasn't a lot of the company on a percentage basis...
That said, Tim Cook's response was correct. The measure this group proposed was actually very broad. They wanted the company to base all decisions on ROI only. Had it been adopted by the board, it would have instantly opened the company up to a flood of shareholder lawsuits over any number of expenditures that don't directly generate profits.
Which scientists?
Think of it like a horoscope sound and bluster, signifying nothing.
I'm sorry, what planet are you living on? This is regularly argued an national cable news all the time. You can't be taken the least bit seriously when you put such an obvious falsehood as the first argument supporting your ridiculous claim.
But their press release says
> Apple is wasting untold amounts of shareholder money to combat so-called climate change.
which sounds like denial to me. Would you prefer to call them "Climate Change Skeptics," the term coined by radical conservatives to attempt to paint themselves as not crazy and anti-scientific?
Everyone plays the "name yourself according to something non-controversial, name your opponent according to something controversial" game. I wouldn't get too upset about it.
Among their headlines:
- Get a Clue, White House: The Planet Isn't Warming
- Do 97% of All Climate Scientists Really Believe Mankind is Causing Catastrophic Global Warming?
- Planet Hasn't Warmed Since 1997, Yet Senators Fret the News Media is Covering Actual Crises Instead of Climate Change
Based on those, I'd say NCPPR is denying that it's happening.Wow, and here I thought "so-called" was clinching evidence. That's the value of doing your homework!
Semantics aside, you seem to have missed the point. This group seems to doubt it is happening at all ("so called" in this case doesn't mean they disagree with the terminology - instead they seem to doubt it is occurring)
Well, "Climate change" is even broader than "Global warming".
Each IPCC report has increased the confidence of the impact of human emissions, but lowered the effect. So the science says that we are more certain now than before, but that the sensitivity is much lower than understood before. This is great news but most people haven't realized that the scare stories of 10-15 years ago no longer apply. The term 'climate change' is pretty debased though, because it can mean anything from 'natural climate change' to 'Himalayan glaciers are going to melt in 20 years'.
But the wording from this group is silly, there is no doubt.
This is absolutely false. There are denialists that deny the earth is warming, there are more that deny humans have anything to do with it and then more that deny that carbon emissions are worth it and then more still that deny it's a bad thing. Many of them contend all of these points in a throw everything at the wall strategy.
To say this is to deny the established causes behind climate change - excess carbon emissions. I doubt the relationship is linear, but the solution is to emit less carbon emissions. This should no longer be controversial.
Based on pure ROI is pure crazy.
http://www.nationalcenter.org/eptf.html
> "Here's the bottom line: Apple is as obsessed with the theory of so-called climate change as its board member Al Gore is,"
> After today's meeting, investors can be certain that Apple is wasting untold amounts of shareholder money to combat so-called climate change.
... etc
Every single mention of climate change is prefixed with "so-called", in this PR and every other one. If you read through these articles you'll find that they believe climate change stopped in 1997.
That said, I'm pretty sure climate change is happening - but I'm not really certain its anthropogenic, and even if it is, I don't think the genie can be put back in the bottle anyhow.
I think focusing on carbon seemingly alone is a distraction, Using less resources to do a thing is a good thing anyhow, its cheaper in the long run, carbon alone doesn't get us there.
Most environmentalists aim to reduce known human impacts on climate change. This is actually closer to reducing human control on climate change than doing nothing.
Scientific communities are far from immune to taboos and group-think, and I think every idea deserves scrutiny and (true) skepticism, no matter how "settled". But while the science continues to iterate and refine, policy decisions should be based on weight of evidence, which is vastly in favor of human-caused climate change.
[1] http://en.wikipedia.org/wiki/National_Oceanic_and_Atmospheri...
Our understanding of the laws of thermodynamics and the theory of chemical bonds are basically what enable civilisation as we know it.
FWIW, I agree with you that the cause matters less than the effects.
> Allowing a country like China or India to be the first to develop reliable, cheap, renewable energy would be a total game changer that could leave us as an also-ran country or vassal state.
I don't see how this happens, unless a bunch of other things also happen to go wrong at the same time. China would have to start respecting other countries' IP rights for real, and patents would only keep things locked up for so long. And it's not like China or India would have a monopoly on understanding and improving whatever that new technology is.
Anything serious enough to raise the specter of "vassal state" and the US would just ignore IP rights pretty much the same way China ignores foreigners' IP rights out of self-interest.
I still see climate change as possibly causing billions or trillions dollars of economic harm, so it's worth addressing.
Adaptation should be about increasing water storage, storm defense and concentrating on uninterrupted energy supply. Research money should be spent on new energy technology and better climate forecasting.
Right now we have billions being spent on innefectual or worse solutions, because the responses are based on 20 year-old understanding of climate sensitivity, which has proven to be incorrect by several orders of magnitude.
If Illinois does turn into Texas, what you absolutely dont want is having sent the previous fifty years wasting your productive capacity on worthless solutions.
1. Climate change is a big problem, if not for the present then at least for the near future, unless we do something about it.
2. Given that, we should all make an effort to do what we reasonably can about it, instead of caring about nothing whatsoever except money.
If the NCPPR disagree with the first claim, then they should present their best case for that disagreement. I think they're mistaken, but if they have evidence for their position, then let's hear it.
But instead of making that case, they mixed it in with disagreement with the second claim, which is a bad way to argue (mixing empirical questions and value judgments) and makes them come across like sociopaths to boot.
I'm actually with you on doubting the ability of public policy to deal with it. We aren't going to stop it, and we will suffer from it. Our only option is to figure out how to adapt to it.
I suppose we shouldn't try, then. Not even a little bit.
- "Liberals" is a group of people who all think the same way.
- The only reason nuclear power isn't widely used is "Liberals not caring about climate change".
?