Not all that prudent after all

An accessible version of this infographic is available at https://www.apra.gov.au/consultation-on-draft-prudential-practice-guide-on-climate-change-financial-risks-infographic

The Australian Prudential Regulation Authority (APRA) has just released a note on “guidance on managing the financial risks of climate change” which includes the graphic shown above. Now, if they were releasing an approach to dealing with the psychologically disturbed people who take this stuff seriously, that would be one thing. But they seem to believe that the risk actually comes from global warming itself. What can be done with such fools? They will be the financial ruin of us. Which brings me to this:

What is the full meaning of prudent?
adjective. wise or judicious in practical affairs; sagacious; discreet or circumspect; sober. careful in providing for the future; provident: a prudent decision.
`
This entry was posted in Global warming and climate change policy, Public Service Announcement. Bookmark the permalink.

26 Responses to Not all that prudent after all

  1. incoherent rambler says:

    Whom the gods would destroy …

  2. duncanm says:

    if the quants actually looked into it, they’d quickly work out 99.95% of the risk was government legislation changes.

    The “Transition” and “Liability” bits.

  3. duncanm says:

    ps: why do we fund the dimwits at APRA and other places to churn out this shite?

  4. Entropy says:

    The transition risk and liability risk is probably the much bigger risks. Timeframes would swamp any realistic climate change scenario impact. Premiums, after all, are annual.

  5. Entropy says:

    Snap Duncanm.

  6. Judge Dredd says:

    Retarded

  7. Squirrel says:

    Public bureaucracies seem to be incapable of communicating with the proles without resorting to bland, infantile, intelligence-insulting graphics – it would be so much easier and cheaper if they just said “you’re too thick to understand this stuff, so just trust us and do what you’re told”.

  8. Siltstone says:

    The risk of unreliable electricity supply stands out as the greatest risk to business.

  9. duncanm says:

    Siltstone says:
    May 6, 2021 at 10:07 pm
    The risk of unreliable electricity supply stands out as the greatest risk to business.

    that would be the vaguely-worded “Impacts on pricing and demand”

  10. FlyingPigs says:

    Lawyers in Parliaments, where laws are made or amended, represent a clear conflict of interest.

    It is like putting the foxes in charge of the hen house for one thing.

    Name me 1 area of human activity or inch of Australia that is not covered by Parliamentary “Law”?

  11. Russell says:

    High level rubbish when the real help with analysis should be in more detail:
    Key Component > Physical> Supply Chain disruption
    #1 will be blackouts or curtailment due to poor reliability of electricity.
    Key Component > Transition Risk > Stranded Assets
    #1 will be equipment powered by uneconomic fossil fuels after CC taxes applied
    Key Component > Liability Risks > Litigation
    #1 will be vexatious legal actions by climate activists and media fake news stories

  12. FlyingPigs says:

    Russell says:
    May 7, 2021 at 12:00 am

    but at least APRA will have protected your wisely invested superannuation investment managers.

  13. H B Bear says:

    What you get when a bunch of BAs from La Trobe look at engineering problems.

  14. H B Bear says:

    Accompanied by BCG and PwC.

  15. H B Bear says:

    From the people who brought you the chick and the milkshake ad aka the APS.

  16. Entropy says:

    Squirrel says:
    May 6, 2021 at 9:01 pm
    Public bureaucracies seem to be incapable of communicating with the proles without resorting to bland, infantile, intelligence-insulting graphics – it would be so much easier and cheaper if they just said “you’re too thick to understand this stuff, so just trust us and do what you’re told

    Truth to tell it’s often the only way of explaining things to the Minister.

  17. Amadeus says:

    Canberra bureaurats telling industry how to run their affairs you have got to be joking. APRA couldn’t find their bum unless someone stuck arrows pointing to it.

  18. duncanm says:

    Amadeus, you miss the point.

    This is APRA (and other regulatory agencies) enforcing climate change pap on companies via regulation and law. They push this shit through, then argue that its in the shareholder’s interests, and badda-bing, your profitable corporate is throwing money at climate shit and disabled black lesbian puppeteers under threat of prosection.

  19. Roger says:

    German just recorded its coldest April since 1977.

    Global warming blamed.

  20. rickw says:

    Lastest news in Energy Idiocy is that Yarragrad council is planning to ban gas connections on new buildings.

  21. Roger says:

    Lastest news in Energy Idiocy is that Yarragrad council is planning to ban gas connections on new buildings.

    The most authoritarian local council in Australia.

  22. Spurgeon Monkfish III says:

    Lastest news in Energy Idiocy is that Yarragrad council is planning to ban gas connections on new buildings.

    A council in Sydney has beaten them to it. Canterbury council banned new gas connections about two months ago.

  23. Dave of Reedy Creek, Qld says:

    All stories on “climate change” should begin with the phrase “Once upon a time….’ like all the other fairy stories.

  24. old bloke says:

    Dear Mr. APRA,

    Following our board meeting today to discuss our exposure to risks from Catastrophic Anthropogenic Global Warming I attach herewith our corporation’s plan of action for your perusal.

    1. Identified Risks:
    a) lack of reliable energy to conduct business due to over reliance on unreliable energy supply sources
    b) high cost of energy due to subsidies to unreliable energy supply sources
    c) weather too hot, too cold, too wet, too dry causing staff discomfiture

    2. Mitigation Plan:
    a) Purchase and install diesel generators at all locations where we conduct business
    b) switch to in-house energy generation (as per “a” above) once grid electricity costs become too onerous
    c) issue woollen jumpers and umbrellas to staff as needed. Staff will also be authorised and encouraged to wear skimpy clothing on hot days, female staff in particular.

  25. Forester says:

    Key Component > Liability Risks > Litigation

    After my 2030 $quadrillion global warming fraud class action, Lord Wentworth, Mr Shipman and Al Gore will be washing windscreens on Canterbury Road.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.