Climate fears drive Australian bond sell-off, by Kelsey Johnson. A vote of non-confidence by … the biggest loons in the world!
Sweden’s central bank has sold off bonds from two Australian states and the oil-rich Canadian province of Alberta because it felt that greenhouse gas emissions in both countries were too high.
Riksbank Deputy Governor Martin Floden said the bank would no longer invest in assets from issuers with a large climate footprint, even if the yields were high.
“Australia and Canada are countries that are not known for good climate work,” Mr Floden said in a speech at Orebro University in Sweden. “Greenhouse gas emissions per capita are among the highest in the world.
“As a result of the new investment policy, we sold our holdings of bonds issued by Alberta in the spring.
“For the same reason, we have recently sold our holdings in bonds issued by the Australian states of Queensland and Western Australia.”
Didn’t do any due diligence on the carbon dioxide theory of global warming, did you? Amazing what a theory from the 1960s with a subtle error has wrought in the hands of the left. Sweden, by the way, was instrumental in getting the carbon theory going politically — search on Bert Bolin.
Still, Sweden is renowned for falling hard for the latest leftist trope. They are starting to come to terms with the never-ending hangover from their awful, awful immigration policy, where they imagined themselves to be the world’s “humanitarian superpower” (yep, seriously, that’s how they saw themselves).
An ex-Swedish reader writes:
This shows the corruption and stupidity of the Swedish Reichsbank.
The Swedish Krona is the worst performer of all European currencies, except for Turkey, over last 50 years.
The Krona coin is a good example of the debasing of the currency.
It was once a silver coin, 40 % proof. Now it is a small copper coin.
Sweden introduced a carbon tax, first in the world 1990. Going fast track to a de-industrialisation of the country.