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May 2, 2016

Major Democratic Donor Warren Buffett Rejects Shareholder Resolution On Climate Change

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On Saturday, billionaire Democratic donor Warren Buffett dealt a devastating blow to environmentalists at the annual shareholders meeting for his company Berkshire Hathaway.

Buffett, who controls almost one-third of votes, joined other shareholders in “overwhelmingly” rejecting a resolution that asked Berkshire Hathaway to “write a report about the risks climate change creates for its insurance companies.” The resolution was brought to the meeting in part by climate scientist Jim Hansen.

Hansen is well-connected to the Environmentalist Left. His studies were the inspiration for radical activist Bill McKibben’s “350.org” movement and he was cited in the Natural Resources Defense Council’s manifesto on “killing” the Keystone XL pipeline in 2015.

Buffett still “resisted” Hansen’s efforts and said climate change would not hurt insurance companies, despite heavy climate efforts from President Obama and Hillary Clinton – two major beneficiaries of Buffett’s political giving.

Buffett was an early supporter of Clinton, giving $25,000 to the Ready for Hillary Super PAC well before Clinton jumped in the race. He endorsed Clinton in December 2015. Buffett also maxed out to President Obama’s re-election campaign in September 2011.

Despite the pressures of Clinton’s “leftward shift on climate change” and the efforts of groups like the Sierra Club, it’s clear not every Democrat is ready to jump on board with the extreme environmental movement.