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