Bumblebee Conservation Event

Dear Friend

BUMBLEBEE CONSERVATION EVENT INVITATION
Yes I know, hot on the heels of the last but after COP26 I felt it would be helpful reiterating some of our own perspectives on the Environment – and a special invitation sponsored by the Charitable Foundation!

There are lots of conflicting climate change reaction issues – such as the fact the UK only generates 1% of global carbon versus 38% from China which continues to use and construct coal-fired power stations. Not being flippant but what we do here is not going to impact the likelihood of Tuvalu repelling rising sea levels (global warming increases sea temperatures and ‘thermal expansion’ means that as water heats, it expands) and this is before the greater turnaround of evaporation, precipitation and humidity of course, whilst similarly arid land areas heat-up and cause their own issues of drought and parching.

Perhaps several of these low-lying countries really need to be planning evacuation, if the projections – even at 1.5 degrees – are correct because no amount of money can stop the seas; unpalatable for them I am sure but I have not seen that on the agenda. There are plenty of land areas across the Globe which are not heavily populated where perhaps settlements could be created for ‘them’.

The West has to avoid being pious too – and whilst our personal input here may be token in the greater scheme, we must still take steps. It is not just about carbon reduction (and we are not doing enough on clean carbon capture either and atomic, which is foolish) but it is to reduce consumerism (upon which our economies seem so predicated). Sorry but not investing in certain shares is not doing anything to help the Planet either – it is likely in fact to be doing the opposite when adherence to corporate ethics and good governance are concerned – it can be the worst form of naïve ‘green-washing’ by making these companies’ shares cheap to attract the wrong sorts of owners. It is naïve and crass if fossil fuel companies or their businesses end-up in the hands of far less favourable regimes like Russia, China or India and that is happening already as the West creates excessively oppressive regulations to force that eventuality. Instead we can be activists and influencing future policy within these entities perhaps. Of course what is pious of us is that our own fossil fuel consumption marches inexorably upwards as we choose to continue heating our inadequately insulated homes excessively and wearing scant clothes inside in the depths of winter, let alone travelling far more miles than maybe we really need to do in our heavy carbon-footprint electric cars too, as we scrapped the old diesel ones which could have carried on for several years yet. We can’t then go out and glue ourselves to a motorway to feel smug about our actions yet at the same time buying cheap Chinese goods as well as not allowing the very impoverished developing world bring food to the tables of their families and to develop economically as well as we have. It is then hypocritical. This article notes the need for general governance to take precedence perhaps and an ‘investment exclusion’ policy as being meaningless, sadly. https://citywire.co.uk/wealth-manager/news/colin-mclean-investors-cant-solve-societys-problems-alone/a1581238 It’s not easy and the media and pressure groups are keen to share one view – their current one and it is up to us to look more deeply as well – whilst at the same time doing ‘our bit’, however token it may seem – altogether we can make a difference. Some of these things are economic sense for us now too – partly because of the dramatic cost reduction in the production of things like solar panels but also because of the increasing costs of traditional energy as well. For example, if you are in business, the grants and tax reliefs on an electric car and for employees are beginning to make great sense but there are consequences such as not enough charging capacity at the present time but it is improving rapidly. Yes, we have taken the plunge and have an all-electric vehicle. We have had to upgrade our ‘home’ too with Three Phase installation at significant cost – it is fortunate we live in an Hotel (!) as the charging unit is of course also for guests primarily and thus business relievable. We shall also be investing £40,000 in a solar array to heat the swimming pool for guests – I am being told to see it as forward-paying several years of energy, at a discount. Coupled with a heat exchanger for the ‘air’ when the Pool is in use, oil and electricity consumption should plummet.

We must not overlook either corporate ‘greenwashing’ where companies and far too many investment funds engage in conscience-salving and advertise their wonderful green credentials to sell you a product at a big profit, let alone hordes of new and well-rewarded roles created to monitor constantly the investment and corporate governance regimes of their hosts, in accordance with their own created Climate Change criteria – but are they doing any good for anyone at all?
There is also the other side of the equation – the natural environment and here, all of us need to be more aware and do more to help biodiversity too. If we don’t reverse the decline of insects, all these trees we plant for carbon capture will not be pollinated, let alone all the other flowers and indeed crops for food. If there are fewer insects, there are fewer birds and bats and our national environment will become sterile. What are you doing about that in your garden, in your neighbourhood? Again, here bureaucratic planners and green warriors seem to try to stop all development – or more likely encourage even nature lovers who need to submit a planning application to clear their site of any non-TPO tree or shrub (within the law naturally) before submitting the forms, as that averts the raft of new and very well-rewarded, over-zealous ‘consultees’ from causing as much grief and cost as possible for their application – what has the Country come to? And to confound some… whilst I love nature in general and trees and we have planted hundreds on our Property since we arrived, don’t overlook grasslands which are super carbon sinks and which need appropriate management and grazing too… it’s never ‘one or the other’. https://www.manchester.ac.uk/discover/news/huge-carbon-stores-under-grasslands-discovered/ And even then, planting the wrong trees or in the wrong places can add to the risks and not diminish them… https://www.scientificamerican.com/article/tropical-forests-cool-earth/

Anyway, I am not trying to be controversial but simply to say that as individuals and a Firm ‘we’re on the case’ and doing what we can individually as well as reviewing and assessing what we do as financial advisers, investment managers and as a business. We’re on your case and on the World’s case and we’ll shout too when we need to do so – especially against unethical activities of any and all forms. It’s not about artificially selling you some ‘product’ as the solution to ‘your needs’ and for a fat profit and that, I am afraid, is perhaps the most unethical thing of all. We have solar panels on the Office roof and are investigating a charging station outside the Office too. Individually we must also all do what we can in terms of Giftaiding donations to the right charitable causes fighting the good fight – not so much buying unproven eco-products we never needed in the first place to ‘feel good’ but instead, researching and supporting causes which really do great works and which are evolving and researching ways to help significantly. Personally we are members of myriad organisations in this context and each and every one is doing its bit to help the cause. We owe it to ourselves – and our environment locally, to do more to understand what goes-on out there in nature and what is happening with it too.

Anyway, on a far more positive note, the Philip J Milton & Company Charitable Foundation is sponsoring and supporting the local efforts of the Bumblebee Conservation Trust by an event at Trimstone Manor on 14 December and anyone is welcome to attend. There are rare species on internationally important Braunton Burrows, just down the road in what was the Country’s first UNESCO Biosphere and where you can find half of all the plants found in the UK. If you can come, you will be welcome! Please see the attached poster for further details.

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My best wishes

Philip J Milton DipFS CFPCM Chartered MCSI FPFS FCIB
Chartered Wealth Manager
Fellow Of The Personal Finance Society, Fellow Of The Chartered Institute Of Bankers