Ignorant is ignorant

At the same time there is a very obvious and growing demand from the investment community for data on climate change that is not being met. It is easy to see why. I attended an Institute of Chartered Accountants seminar on climate change accounting yesterday. 35% of those attending made no climate related disclosures. 51% only made them in the narrative part of the accounts. That left 14% at most making any reference to climate in their figures. The biggest economic issue on the planet is not being accounted for, as yet

This is, of course, untrue.

The fuel duty escalator was imposed in order to meet “our Rio commitments”. It has added 25p a litre to petrol prices. The Stern Review amount for a carbon tax is 11p a litre.

So, the costs of climate change are there in every piece of accounting to do with transport in the UK. It’s in refinery accounts, as volume purchased has fallen as a result of the higher taxation. It’s in the accounts of every company that transports something, in the prices they pay for fuel. It’s in the accounts of every company that deals with something that has been transported, in the price they must pay for transport.

Climate change is, via those fuel duties, embedded in every price faced by anyone in the economy. And yes, accounts are made up with respect to market prices.

This is also true of all that greenery in the electricity supply system. It’s in prices, accounts are made up of prices, therefore climate change is in accounts.

The P³ wants more climate change to be in accounts. OK. So, he should want the carbon tax to apply to more things so that it is all reflected in accounts via the price mechanism.

The only problem with this is that it doesn’t provide a job for the P³ and let’s face it, grifters gotta grift.

15 thoughts on “Ignorant is ignorant”

  1. Actually, speak it softly, but the Sage of Ely might have got summat right.
    As you say, these climate change levies are already there, but hidden.

    So do as the P3 says, and show all the eco-loonery as a separate line item at PoS:

    Petrol: 10p/litre + 90p climate tax + 20p VAT = £1.20/litre to pay.
    Electricity for the quarter: £200 + climate tax: £400 + 5% VAT = £660 to pay.
    Return flight to Portugal: £100 + climate tax £900 + 20% VAT = £1200 to pay (inside seat extra).
    Existence CO2 emission tax: £0.05 per breath….£30/hour (couch potato) or £300/hour (fitness freak or horizontal dancing). Measuring may be tricky, so just average out £400/day as a poll tax?

    Once people see how they are being milked dry by the green parasites, there’ll be a reckoning.

  2. You’ve prompted me to look at a recent electricity bill. I was sure it already had an item “Climate Change Levy”, but no, not there, just usage+vat. So it’s probably hidden in the per-unit levy.

  3. @jgh
    There’s usually a ‘where your bill money goes’ explanation, showing a suitably small bit for ‘profit’ and large amounts for ‘subidising people who won’t pay their bill’ and ‘climate and renewable scams’

  4. “The fuel duty escalator was imposed in order to meet “our Rio commitments”. It has added 25p a litre to petrol prices. The Stern Review amount for a carbon tax is 11p a litre. ”

    It’s that question for Tim again. So what makes you think the carbon tax you’re always singing the praises of will be any different? The level of tax a government sets will reflect the revenue a government wants to collect. Not the cost of carbon emitted. Doesn’t even take any imagination to work out what would happen. As the amount of carbon emitted falls in response the the tax cost, the tax cost per unit will rise to meet the revenue requirement. That’s going to be far from an optimum outcome.

  5. Dennis, Pointing Out The Obvious

    At the same time there is a very obvious and growing demand from the investment community for data on climate change that is not being met.

    Really? Citation needed.

  6. I think you’re presuming, Tim, this would be an alternative to the other idiocies. Whatever gives you that idea?

  7. Fact is that proper data proving beyond reasonable doubt that man’s CO2 emissions are casuing catastrophic climate change, doesn’t exist.

    Because it can’t .

    Because they aren’t.

    At some point in the not too distant future this simple truth will start to gain traction in the public square and Boris and his loathsome wife will be toast.

  8. Er Tim, that’s hardly a ringing endorsement of a carbon tax. They’ll fleece us (instead|as well as) by this other method which may or may not be ‘Good For The Planet’, and we’re supposed to slobber all over their feet in gratitude. No thanks, may they kindly go forth and multiply.

  9. This was a meeting of accountants, not companies, right? So in what accounts does Murphy think that they should be showing climate change data? Their tax returns?

    Is Murphy certifiable? Or is he just making things up to suit the propaganda that he wants to put on his blog?

  10. “a very obvious and growing demand from the investment community for data on climate change that is not being met. It is easy to see why.”

    The actual questions being asked are: “How the hell am I supposed to book such an embarrassing RoI while keeping a straingt face”, and “How can I mask the excessive grift overhead?”

    But hey…. 😉

  11. We have a fuel levy for funding public transport…so as less people drive and use public transport the more costs increase while their revenue decreases…genius solution

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