El Twatto fails to realise…..

One of the first campaigning documents I ever wrote was on the need to issue bonds to finance green investment. It was then good to see this in the FT this week:

It’s taken some time, but now the finance sector realises that what we need are bonds to finance a Green New Deal. So why won’t the government deliver what the market wants?

El marketo, eh?

Joshua Kendall, senior environmental, social and governance analyst

Simon Bond, director of responsible investment portfolio management

You mean fully signed on activists who have secured comfy berths ask for government to make their jobs easier?

14 comments on “El Twatto fails to realise…..

  1. ‘finance green investment’

    The economics professor seems unaware of what ‘investment’ means. How is that possible?

  2. “One of the first campaigning documents I ever wrote was on the need to issue bonds to finance green investment. It was then good to see this in the FT this week”

    Implying that he invented the idea.

  3. Implying that he invented the idea.

    And not the first time. He claims to have invented country-by-country reporting, despite the fact that the idea was being bandied about for decades prior to his latching on to it.

  4. @DtP

    Spud’s MO is generally….

    Never heard of the idea
    Finds out about it
    Writes something endorsing it
    Claims to have invented it
    Is shown not to understand it
    Falls out with existing adherents to it
    Denounces them and it.

  5. The latest thing, chez Spud, seems to be tax spillover and related assessments.

    “Tax spillover assessments – an idea whose time has come

    What I am pretty confident is my most significant academic publication to date has just appeared in print, in Global Policy journal.”

    Despite (from my quick searching) the fact that it seems to have been the IMF which first used the phrase tax spillover in 2014, Murphy looks like he is edging towards yet an another appropriation of the ideas of others for himself.

  6. Global Policy
    Impact factor: 0.603

    The Journal Citation Reports (JCR) database tracks all impact factors for 12,061 journals. Approximately two-thirds of the journals tracked by JCR have a 2016 impact factor equal to or greater than 1

  7. Joshua works for BNY Mellon and Simon for Columbia Threadneedle. I presume that there are benchmarks that show how self-styled ethical investing delivers superior risk adjusted returns. It is just that every outfit defines “ethical” in a different way and applies it differently. You wouldn’t want to make yourself comparable to a well-known benchmark would you?

  8. I just had a look at the FTSE4Good set of indices and the returns seem little different from the underlying indices including naughty companies. Not really sufficient to make me want to change my habits. A percentage point over 5 years, either higher or lower depending on geography? However I am sure that further inspection would reveal ungoodness in these indices if anyone were inclined to look

  9. @Dennis the Peasant

    Do you have chapter and verse? If we can prove Murphy has been publicly lying I think a complaint to the ICAEW might be in order.

  10. Sam Jones, dont waste your time. I tried to register a complaint with his university (for lying about economics and his importance in the field) and also with ICAEW (for bringing the profession into disrepute by what he says about them. Nada. The institute wanted to know when and where I had come across him, his registered address etc etc before they would even look at it

  11. What’s the smugness return on those funds? That’s the main one. Think about who would buy them.

  12. This will provide funding for the Green New Deal and
    safety nets to those vulnerable to higher prices via rapidly rising carbon
    taxes and revenue from carbon trading

    signals should include rising carbon taxes and a price for traded carbon that is high
    enough to cause a dramatic drop in carbon emissions

    Government funding for the Green New Deal could come in part from the increase
    in the Treasury’s coffers from rapidly rising carbon taxes

    Guess which report the above quotes were lifted from?
    It was the original report of the Green New Deal report from 2008 : co-authored by R J Murphy ( El Twatto, City University)
    The guy who boasts of claiming he created something he disagrees with. The man who has pub debates with imaginary friends.

  13. Murphy getting slaughtered on the thread by Arif (whoever he is I salute you).. exposed his lack of knowledge. It is interesting as soon as he confronts someone with knowledge he throws out irrational rants and abuse.. he really is a piece of work..

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