The Guardian: UMEI's Tom Lyon details the big flaw in Warren Buffett's view of climate change
Each year, investors eagerly await Warren Buffett’s annual letter to Berkshire Hathaway’s shareholders. And well they might: under his leadership, Berkshire’s compounded annual growth rate from 1965 to 2015 was 20.8%, far better than the 9.7% achieved by the S&P 500.
But this year, the storied “Sage of Omaha” expanded his focus to encompass larger issues. In his shareholder letter, he tackled the controversial subject of climate change, suggesting that, while it threatens the planet, it might also provide some business opportunities for Berkshire Hathaway.
The flashpoint in this struggle is a proposal that is scheduled to be discussed at Berkshire Hathaway’s shareholder meeting on April 30. Submitted by the Nebraska Peace Foundation, which owns exactly one share of Berkshire, the proposal asks the company to “report on the dangers that this change might present to our insurance operation and explain how we are responding to these threats”.