The elites at Davos and climate change

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They certainly do not act as though there was any emergency. From the UK Guardian:

Record private jet flights into Davos as leaders arrive for climate talk
David Attenborough might have urged world leaders at Davos to take urgent action on climate change, but it appears no one was listening. As he spoke, experts predicted up to 1,500 individual private jets will fly to and from airfields serving the Swiss ski resort this week.

Political and business leaders and lobbyists are opting for bigger, more expensive aircrafts, according to analysis by the Air Charter Service, which found the number of private jet flights grew by 11% last year.

“There appears to be a trend towards larger aircraft, with expensive heavy jets the aircraft of choice, with Gulfstream GVs and Global Expresses both being used more than 100 times each last year,” said Andy Christie, private jets director at the ACS.

This is partly due to the long distances travelled, he said, “but also possibly due to business rivals not wanting to be seen to be outdone by one another”. Last year, more than 1,300 aircraft flights were recorded at the conference, the highest number since ACS began recording private jet activity in 2013.

The last paragraph is especially interesting as this sort of peacocking is not sound business judgement and reinforces these numbers from The Economist:

And after all the inflated expenses and egos, what has been the fate of the companies that sent delegates at least three times in the past five years? Those 104 firms underperformed both the S&P 500 and MSCI World Index. Time to get back to work.

Indeed...

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This page contains a single entry by DaveH published on January 23, 2019 9:23 AM.

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