ABP to introduce 'Carbon Budgets'

Does it really make sense to introduce 'Carbon Budgets' as a constraint on the mandates for Asset Managers? First of all, the calculation of carbon usage for all investment options is expensive and it is also more than likely to be imprecise or liable to be gamed. And why not a Carbon budget for fixed income investments (even more complicated and expensive, how much Carbon usage to you allocate to a bond?), and before we forget, I hope there will be Carbon budget for 'Private' Equity and Hedge Funds? And last not least, don't forget the HFT firms. And what about Bank lending?
Nevermind that there is a simple solution at hand (Tax Carbon if you are hell-bent on limiting its use). Why not act according to the principle, what is good for the Consultants MUST be good for the Consumer (here in the shape of hapless end investors in Mutual and Pension Funds, Private Banks and Insurance Companies).
And while we are on the subject of Climate Hysteria, has any political or business 'leder' ever received a democratic mandate for imposing ever-more 'green' taxes, costs and regulations on the citizen/consumer/investor anywhere in the world?

Immigration aids Growth Fallacy

It is amazing that even seasoned Commentators fall for this fallacy. Economic growth has been relatively 'robust' in the UK in the past year (if you want to call growth in the low single digits that way). But to claim that this is partially due to an 'open door' immigration policy is disingenuous to say the least. Fact is that any economy will grow faster if the number of active workers increases. So the all-important measure of growth PER CAPITA is not growing by a similar amount. Sad thing is that the influential lobbies representing employers get too much of a hearing when they complain of labour 'shortages'. It is disgraceful that the overpaid bosses in large listed companies and these owned by 'Private' Equity - who dominate the discussion with easy access to gullible politicians and media - do so little to raise skill levels in order to achieve more output with a given pool of labour, i.e. by improving productivity. They prefer the easy route of importing cheap labour from countries that are at a completely different stage of economic development. But they care little about wage dumping as long as they live securely in their gated mansions or offshore tax havens.