I agree with Bill that divestment is probably less impactful than many people think, and certainly not worth all of the effort people go through protesting tryi

I agree with Bill that divestment is probably less impactful than many people think, and certainly not worth all of the effort people go through protesting trying to get Fund X to divest from Objectionable Investment Y. However I think there are two obvious ways it has > zero impact. Let's take an oil company as an example: 1) If fewer influential investors/funds are invested in oil, there will be fewer people angry if a third party proposes a law or regulation that will hurt oil profits. As said in the article, it makes change easier. 2) The money divested will not go under a mattress. It will be invested in something slightly better (or less worse). Over time this moves money in the right direction.