Jadestone Energy Share Discussion Threads

[fireplace22] 11/11/2023 16:49

Maybe the penny is beginning to drop?


BlackRock supported a smaller share of environmental, social, and governance (ESG) shareholder proposals this year compared to years past.

Why it matters: The move comes at a time when the world's largest asset manager and its CEO, Larry Fink, have been criticized for championing and seemingly backing away from commitments to incorporate climate change-related and other factors into investment decisions.

Between the lines: In a new report Wednesday, BlackRock says it supported about 9% of all shareholder resolutions it voted on globally during the 2022-23 proxy voting season, including 7% of resolutions on issues including climate and the environment and social considerations.

That contrasts with the 2021-22 proxy year, when the company supported 21% of all environmental, social, and governance (ESG) shareholder proposals put to a vote.
In a possible indication of the politicization of the term ESG, it only appears in footnotes of the new stewardship report, compared to about two dozen times the year before.
Zoom out: BlackRock's waning support for ESG proposals reflects a broader shift in the industry, with the investment philosophy coming under heavy partisan fire, and a growing number of high-profile players slowly backing away.
hxxps://www.axios.com/2023/08/23/esg-blackrock-shareholders

[the millipede] 11/11/2023 14:20

One further aspect of this is that firms like BlackRock, Vanguard and State Street own a substantial proportion of the global stock market, to the extent their buying and selling can influence stock prices, even of very large companies.

So why does ESG investing perform as well as it does? Because these three firms tend to be buying up ESG compliant firms and selling out of others. Eg my occupational pension scheme wrote to me recently to explain its BlackRock funds (all index trackers by the way) have decided to sell out of tobacco, arms and coal. For the benefit of scheme members, you understand.

Expect large companies involved in those arenas to find their share prices under pressure IMO.

[mount teide] 10/11/2023 11:47

Despite all the resources and attention accorded to ESG Investing in academia and by the bigger commercial institutions and governments:

'The largest criticism of ESG investing levelled by some is that in many cases it amounts to something called “greenwashing”. That is to say, it is used as a marketing technique which increases the appeal to investors.'

Some of us have been writing about this for many years - opining that ESG investment returns will always be sub optimal since ideologically aligned investments have a long and unenviable market history of underperformance.

The rise and fall of ESG investing

[the millipede] 10/11/2023 10:59

There was a fascinating article in the WSJ yesterday about Ramaco Resources, a New York quoted coal miner that has discovered rare earth mineral deposits in their coal deposits and seams.

Wonder how ESG investors would cope with that?

[nigelpm] 10/11/2023 10:36

We know why it's falling - Gifford selling to meet their ESG rules - with few buyers (also probably constrained by ESG mandates) it'll need cashflow to focus minds - it'll happen.

[pughman] 10/11/2023 10:34

The share price is crying out for some news. The only one gaining here is Blakeley on his $2m per year gravy train. This is the most depressing share I've ever owned. It's like being waterboarded on a daily basis at Guantanamo Bay.

[fardels bear] 09/11/2023 12:17

No, not that bad but at least Jadestine is trying to create something.

[winnet] 09/11/2023 12:07

almost as poor as jadestone, no doubt...

[fireplace22] 09/11/2023 10:55

What a pitiful grovelling statement.

[sea7] 09/11/2023 10:51

Dumping for ESG no doubt...

dated sept 2023



The 2 per cent’

But what about the flipside? We have declared that 2 per cent of our investments is in companies that have some sort of fossil fuel connection. This deserves explanation as it is not quite what it seems.

Our fossil fuel exposure has trended down over time, and the 2 per cent of our investments nowadays is a very low number in most asset managers’ books. It is far lower than the oil, gas and coal exposure that index-tracking funds (passive funds) would have naturally – this would typically be more than 10 per cent of their investments. But even the 2 per cent gives an exaggerated picture of our actual exposure since it includes companies that have as little as one-twentieth of their current revenues coming from fossil fuels.

Some of these companies might surprise you. Who would have thought that the supermarket chain Tesco is classified as a fossil fuel company? It’s included because of its petrol stations. It seems unreasonable to either boycott or sell shares in Morrisons, Tesco, Asda and Sainsbury’s for this reason.

Adjusted to account for the varied sources of revenues in these companies, our exposure to fossil fuels would be less than 1 per cent of our investments. This is de minimis.

But it is not zero. Zero fossil fuel exposure today is not realistic. Fossil fuels still make up around 80 per cent of global energy use. It may also not be aligned with the principles of a ‘just transition’ and ‘differentiated responsibilities’ (the principle that countries at different stages of development should have different targets) that lie at the heart of the Paris Agreement

[sga64] 09/11/2023 10:49

Baillie Gifford based in Edinburgh.

[fardels bear] 09/11/2023 10:42

I wasn't referring to the fabric of the buildings but the fabric of its society.

[winnet] 09/11/2023 10:37

Bit of a sweeping statement Bear! There are some delightful parts of London! Where do you live? I guess in one of the shires, in a thatched cottage where everyone is called Raymond or Margret?

[mount teide] 09/11/2023 09:54

O/T - Afentra (AET) - patience rewarded today with the announcement of Government Approval for one of their two Angolan O&G asset Acquisitions.....approval for the other is expected in Q4/2023. A well managed company well worth throwing a slide rule over.

[fardels bear] 09/11/2023 08:52

Yes, of course. But they all work in that London: increasingly a place not of the real world the rest of us dwell in.

[nigelpm] 08/11/2023 19:32

Good spot - glad there's a rationale for the selling i.e. an institution trying to meet its ESG agenda.

[pughman] 08/11/2023 17:17

Baillie Gifford have continued to reduce their holding in JSE from 8.28% on 30.9, to 7.76% on 31.10. That's 2.8m shares they sold in October, if they keep going at that rate and radio silence from Blakeley continues, the share price will remain in intensive care.

[fardels bear] 07/11/2023 09:28

You'll notice that at this stage in the proceedings large sells don't arrive until there are some large buys for them to need to drown. I'd have thought this a dangerous game but then I'm nobody's short selling expert.

[fardels bear] 06/11/2023 13:34

Because there are 22m shorts..

[impossible123] 06/11/2023 12:41

If JSE was such an astute and opportunistic "investment" why'd anyone sell just under 32p esp when share price was above 32p not so long ago? AIM perhaps.

[impossible123] 06/11/2023 12:37

Corrected.

[nigelpm] 06/11/2023 12:22

Yes, it would be helpful if the same incorrect point wasn't repeatedly made over and over again.

[king suarez] 06/11/2023 12:16

There are no '30p warrants'? - the warrants exercise price is 50p. If they want a 'quickie profit' they have to wait till above 50p.

You've been corrected on this already in post 20059 - just 5 posts after your original incorrect post about '30p warrants'.

So either you don't read replies to any posts you make, or you're trouble making?