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Can I make an ethical killing on the stock market? We ask an expert

Tariq Fancy, former global head of sustainable investing at BlackRock, on whether it’s too good to be true

The notion of “sustainable investing” had a bumper year in 2021. Aligning investments with climate goals – no fossil fuel companies, for example – promises a good financial return, while benefiting the planet. But is it too good to be true? I asked Tariq Fancy – CEO of non-profit digital learning charity Rumie and ex-head of sustainable investing for investment company BlackRock. Last year Fancy publicly denounced sustainable investing as a “dangerous placebo that harms the public interest”.

I read a claim recently – from research led by Aviva and Make My Money Matter – that turning your pension “green” is 21 times more powerful in cutting your carbon footprint than stopping flying, becoming vegetarian and moving to a renewable energy provider combined.
That’s ludicrous. Our individual actions reduce real-world emissions. Selling shares in polluting companies does not – it just means someone else buys those shares and owns those emissions.

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from The Guardian https://ift.tt/hJK0qUz
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