'You're Good, Man, You're Good, Seriously': Jeff Van Drew Grills Investment Officer About ESG
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- čas přidán 11. 06. 2024
- At today's House Judiciary Committee hearing, Rep. Jeff Van Drew (R-NJ) questioned Dan Bienvenue, Interim Chief Investment Officer at CalPERS, about the use of climate change concerns in ESG investing.
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THEY DO NO GIVE A SCHITT.
Jeff Van Drew seems to forget that the taxpayers also subsidies oil and gas companies. Strange why he didn't mention that.
If Congress was smart they would pass a law that these bureaucrats if they don't answer the questions to be held in contempt of congress and go to jail this is why Congress can't get nothing done
Jeff Van Drew seems to forget that the taxpayers also subsidies oil and gas companies. Strange why he didn't mention that.
@@jg8464 Exactly.
@@monotech20.14….they better deregulate and subsidize them a lot more in the next 4 years. If they don’t we’ll all be living like Venezuelans.
@@ynotttt Wrong.
@@ynotttt You should look up the deal trump gave the Saudis to benefit the US oil companies. Which is the main reason gas prices are as high as they are.
Remember when Calpers bailed on firearm manufacturers when gun sales were through the roof? Major opportunity squandered
Absolutely DISGUSTED!!!
Reason why I’m not doing a 401k.
Where my money is will be up to me.
If your employer provides any kind of matching contribution, you're leaving money on the table by not participating. You also lose the tax benefit and the limit for contributing was just raised to $23,000 for 2024.
Jeff Van Drew seems to forget that the taxpayers also subsidies oil and gas companies. Strange why he didn't mention that.
Well too bad. Since 401ks are up along w/ the record stock market we have under Biden.
They are not investors they are political activists.
Wrong.
@@monotech20.14 did you even watch the video?
Hold them in contemp u weak individual....no one answers when they get there
He did answer the question. Sorry you didn't understand it.
ANOTHER THIEF
Yep, Republicans are.
Yep! They are evasive.
Never never never hire him to run your $$$
Step 1: Lie
Step 2: Get called out on your lie
Step 3: Rephrase lie
Step 4: See step 1
As a Cal Pers retiree….this guy and the attitude of the investors from CAL PERS are scary…..they have one responsibility…to attain the best return for their retirees….not ideology goals
That stock market is going to crash like hell.
Wrong.
"Im not going to answer any direct questions with a direct response"!
Renewables just aren't. That is all there is to it. Renewable sources of energy will never yield a good return on the money because most of them require more energy than they can produce. It is not as though there are no uses for such systems, there are some rare situations in which they can be profitably employed, but for the broad general needs they simply do not produce enough to be worth the effort of employing them. The real answer to our future energy needs will be with new fission plants. Notice that I said fission, not fusion. We have been working on controlled fusion since 1953--seventy years-- and the United States has spent some $20 billion on fusion research and not one fusion reactor has produced enough power to light a single LED. So, the wisest choice will be with the "demon" we know, fission.
The wind energy sector has been in crisis mode as reduced tax incentives, rising interest rates and inflation plagued turbine manufacturers and land-based and offshore wind projects. Siemens lost nearly $1 billion on wind last year; pure-play Vestas saw an operating profit decline of 369%.Apr 17, 2023
Jeff Van Drew seems to forget that the taxpayers also subsidies oil and gas companies. Strange why he didn't mention that.
@@monotech20.14 July 19, 2022 Strange you didn't mention this
The United States spent $29.4 billion on energy subsidies in 2022. Of that, $8.7 billion were “end-use” subsidies, mainly financial assistance for energy in low-income households ($3.8 billion), home energy efficiency subsidies ($2.7 billion) and electric vehicle subsidies ($1.1 billion). Another $481 million went to environmental conservation. That leaves $20.2 billion, 89 percent of which is for tax breaks.
Of that $20.2 billion, $15.6 billion went to renewable energy and $3.2 billion to fossil fuels. This yields a split of 77 percent of energy subsidies going to renewables and 16 percent going to fossil fuels (the remainder go to nuclear and other energy types). Fossil fuels produced 80.8 quadrillion British thermal units of energy in 2022, while renewables produced 13.3 quadrillion-meaning that, on average, renewable energy is subsidized 29 times as much as fossil energy.
@@monotech20.14 The United States spent $29.4 billion on energy subsidies in 2022. Of that, $8.7 billion were “end-use” subsidies, mainly financial assistance for energy in low-income households ($3.8 billion), home energy efficiency subsidies ($2.7 billion) and electric vehicle subsidies ($1.1 billion). Another $481 million went to environmental conservation. That leaves $20.2 billion, 89 percent of which is for tax breaks.
Of that $20.2 billion, $15.6 billion went to renewable energy and $3.2 billion to fossil fuels. This yields a split of 77 percent of energy subsidies going to renewables and 16 percent going to fossil fuels (the remainder go to nuclear and other energy types). Fossil fuels produced 80.8 quadrillion British thermal units of energy in 2022, while renewables produced 13.3 quadrillion-meaning that, on average, renewable energy is subsidized 29 times as much as fossil energy.
@@monotech20.14 electric vehicle and electric vehicle battery production was the most heavily subsidized industry in 2023, just as it was in 2022,with automakers Ford, General Motors, and Volkswagen taking the biggest packages.Jan 4, 2024
Was that guy from Calpers named Gambino?
He did not say what returns……
Disgusting
Stop tapping the desk
America was packaged and sold long ago
Sue any company that buys into this DEI nonsense... There is no place in this Country in which racial discrimination in hiring is legal. They have to feel PAIN in order to stop doing this stuff.
Don't investment advisors have a fiduciary duty to their shareholders? If they do, which I believe is likely to be the case, then the shareholders that they are representing probably have cause for damages is those investment advisors invest money based on anything other than what is in the best interest of their shareholders. To even consider climate, DEI, ESG or whatever should make them liable for investment losses in some way.
Answer the damn question
Why does it matter? The market will decide whether their corporate decisions were sound.
Oh boy
I have said this before and I will say it again, get rid of investment and businesses will have to actually make money by selling products and if they can't sell products they go bye bye
Pensions??? Who gets hired with the possibility of pensions these days?
Jeff Van Drew seems to forget that the taxpayers also subsidies oil and gas companies. Strange why he didn't mention that.
crooks
They typically get 4.8%-5.4% on their DEI hires! Florida, w/out DEI hires pulled in 7.8% for the fiscal year 2022/2023! That should tell you something about this company!!! This man was also passed up TWICE for a promotion w/ 20 years of "service"! 😂😂
Freedom of information acts are a thing ppl. File. Also you can submit claims to the ftc. You can write a non aggressive email ( template ) to your local legislator to drive more attention.
Stick your EV'S UP YOUR BACK SIDES.
Renewable energy is wind and solar, not much, if anything, else. Neither can produce sustainable energy and neither make investors money. Both are subsidised by the government for those very reasons. If they made money, the government wouldn't have to subsidise them. If an investment group is investing your money into renewable energy companies, they are knowingly risking your money for political reasons. That's what these congressmen's questions were getting at and that's why these witnesses were not answering their questions. The sad part is, NOTHING is going to happen to them because republicans are all talk and no action and EVERYONE knows it.
I like 5 minutes or under clips
So the question I would be asking these people that have roughly a half a trillion dollars in assets to play with is how much is your base pay per year and what kind of bonuses do you receive and just how much are you ripping off the people that give you their money to play with let's see what their faces would look like when you ask them a question like that
or i can be the real bad guy and be as rich as i wanted
"If you really care about all those hardworking Americans who are breaking their back everyday who are relying on you for investments to do the very best you possibly can for them, you're falling short in my opinion." - Jeff Van Drew
NPC responses... designed to avoid accountability...
tech its up to whoever can play bettwr chess on a global scale
i test our system so you guys can make policys befor a real bad guy exsplioits it
It’s a republican thing to protect fossil fuel companies that fund their campaigns. OMG, someone might develop cleaner energy and cut into big oil’s money grab.
The technology is just not there... well I guess Dems are counting on cleaner energy companies to fund their campaigns