She doesn't think that equity analysts are all that skillful. Their skill is mostly in the selling. It is all about "belief" and what you expect to happen.
How else can you explain that companies are still spending a colossal $674 Billion on looking for more fossil reserves when we can only at best burn 1/3rd of existing reserves without causing climate change disaster.
Meg used the example of UK coal electric power provider Drax which is successfully changing from burning coal to bio mass. It went from facing bankruptcy to becoming a profitable success by adapting its business to climate change.
Meg spoke about the current floods as being physical evidence of climate change and how we need to look at the impact on insurance companies. There was a bit of debate in the Q&A about whether the increase in insurance pay outs due to extreme weather in recent years is due to climate change or the development of the insurance industry.
Some questions that Meg suggested we should be asking our fund managers -
Q. Where is the climate change risk in our fund? (And what are you doing about it)
Q. How do you see this risk developing?