The man\’s a marvel:
FT.com / Reports – Clean tech sector needs more capital.
That’s why we need green bonds
That’s why we need a Green New Deal
So, the clean sector needs more dosh. Hm, so what is the mechanism that we\’ve currently got to provide more dosh for the clean sector? Yes, it\’s the EU\’s cap and trade system. By making emissions more expensive it makes capital investment in non-emissions more profitable and thus increases the amount of such investment.
Ah, but no, you\’ve missed the genius of Mr. Murphy\’s logic:
Now let’s note what this broker does:
Tullett Prebon operates as an intermediary in wholesale financial markets facilitating the trading activities of its clients, in particular commercial and investment banks. The business now covers the following major product groups: Volatility, Rates, Non Banking & Sterling Cash, Treasury, Energy, Environmental, Credit, and Equities. Tullett Prebon’s electronic broking division offers electronic solutions to these products. In addition to its brokerage services, Tullett Prebon offers a variety of market information services through its IDB Market Data division, Tullett Prebon Information.
So they trdae in a great deal of what is ’socially useless’.
Please feel free to go.
I note that word \”environmental\” in there. So what do they do?
TP Global Green continues to build on its established presence in the emissions market through brokerage of European Union Allowances (EUAs), Certified Emissions Reductions (CERs), Emission Reduction Units (ERUs), Options on EUAs, CERs and ERUs, and Voluntary Emission Reductions (VERs).
Oh, they make the cap and trade markets work. Gosh, how socially useless of them.
So, we need to have more investment in clean tech but those who by their actions encourage greater investment in clean tech are socially useless.
No, that\’s a Good \’Un, even for Ritchie.