Jabba The Climate Liar Departs JP Morgan Board; Lee Raymond's Legacy Too Much For "Enlightened" Bank
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In related news, Lee Raymond, who served as CEO of ExxonMobil from 1993 to 2003, has resigned from the board of directors of JP Morgan Chase. Raymond led the company’s campaign to discredit climate scientists and down play the association between consuming fossil fuels and global heating. Neither Raymond nor the bank gave a reason for the resignation, but some observes suggest his continued aggressive denial of the link between fossil fuels and climate change is no longer congruent with more enlightened thinking on environmental matters at the bank.
“Make no mistake, Raymond quitting is a direct result of pressure from shareholder champions,” Richard Brooks, a senior campaign strategist at the activist group 350.org, said in a statement reported by MRT News of Midland, Texas.
In a filing with the Securities and Exchange Commission, the bank did not offer any explanation for Raymond’s resignation, saying only it was not “the result of any disagreement with the company.” Yeah, sure. Raymond ran ExxonMobl for more than a decade and gained a reputation as a shrewd but cantankerous executive who saw the threat that climate regulation posed to his business and fought diligently to undermine scientific research into the connection been greenhouse gas emissions and global warming.
His departure from the board is one more indicator that the world is in the process of moving on from fossil fuels. That movement is too slow for some but it is movement nonetheless. The economic system is doing what it is supposed to do — inexorably crushing those who refuse to get with the program. Hopefully, it is not too late for the people of Earth who have so little input into the arcane world of global economics.
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https://cleantechnica.com/2020/12/20/coal-continues-to-take-it-on-the-chin-as-investors-flee/
= new reply since forum marked as read
