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You may have indirect fossil fuel investments you’re not aware of. From my cursory research, most banks are heavily invested in fossil fuel industries, and most
by kennywinker 7y ago
You may have indirect fossil fuel investments you’re not aware of. From my cursory research, most banks are heavily invested in fossil fuel industries, and most mutual funds and index funds include oil and gas positions.
Even many “ethical” or “green” funds seem to have investments that bleed into oil and gas - e.g. enbridge, a company that makes pipelines AND clean energy infrastructure.
Long story short - i’ve found it very hard to invest money without some of it going to fossil fuel businesses.
- gingabriska 7y agoShould we also deinvest from petroleum derivates like Petroleum Jelly maker Vaseline?
- kennywinker 7y agoSomehow I don’t feel like you’re actually asking this question with sincerity... but you’re getting a sincere answer anyway: We could likely make most if not all petroleum derived household products with such a small amount of crude that it would not impact the environment in a significant way. On those grounds, there’s little point in divesting in unilever (owner of the vaseline brand). More damaging than unilever’s chemical production, however, is their use of plastic containers and packaging - which likely gives large amount of money to the oil extraction industry. But good luck divesting in companies that use plastic. This is why consumer choice is unable to effect change here. I can want to buy from and invest only in companies that don’t use traditional plastics - but if basically none exist then i’m screwed.