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But how is this different than any other investment choice they make trying to maximize their profits? Investors and banks are looking at the data and thinking,
by cortesoft 6y ago
But how is this different than any other investment choice they make trying to maximize their profits? Investors and banks are looking at the data and thinking, “if we don’t do something about climate change, it will really hurt our long term profits”, so they use their power to prevent the thing that will lower their profits.
Isn’t that what a corporation is supposed to do?
- BitwiseFool 6y agoFor some corporations, yes, that is what they are supposed to do. However I make a distinction when it comes to the size of the company and the type of service they provide. There are some businesses and industries that I believe need to act like impartial utilities. Banking is one such sector.
- nickelcitymario 6y agoThere's no such thing as an impartial utility. Every move impacts some groups positively and others negatively. You might be able to argue for the existence of a naive utility, one that doesn't bother being aware of the impacts of its investments. But that seems kinda silly in my books.
- admax88q 6y agoIf banking is a utility, are they required to invest in anyone who asks?