3 ms·
> However, Mr Gates questioned the divestment movement’s “theory of change”, arguing that investors who want to use their money to promote progress will have be
by scrooched_moose 7y ago
> However, Mr Gates questioned the divestment movement’s “theory of change”, arguing that investors who want to use their money to promote progress will have better results by funding innovative businesses such as Beyond Meat and Impossible Foods, two alternative protein companies he has backed.
I must be missing something, but isn't that exactly what "divestment" is? You sell off shares in fossil fuels and reinvest the money in other industries which are more climate conscious? It sounds like he's saying people are getting their money back from fossil fuels and hiding it under the mattress.
- cptskippy 7y agoYou can both keep existing investments in fossil fuels and invest new funds innovative companies. It isn't any either or proposition.
- pavon 7y agoMoreso, if the fossil fuel investments are profitable, you can use the returns to fund more progressive companies than you would have been able to otherwise.
- angstrom 7y agoThis has always been my interpretation. I was unaware the idea was to sell C02 heavy companies.
- Kye 7y agoThe article does seem to operate on the premise that they aren't doing this. Until now, I assumed the point was to divest from fossil fuels and reinvest in growth industries: renewables and sustainable production. But maybe they aren't. The article might have a flawed premise, or maybe it's a call to action for organizations that are divesting to invest in the future. I only skimmed the article, so I don't know if they explored this. At a glance, I see no mention of where the money went after they pulled it out of fossil fuels.