Thanks to the editor for “No to oil” in the Dec. 21 edition. I have believed for many years that boycotts and divestitures work when one wishes to help change the political policies of corporations.
Holding stock in American companies may be laudable, but, if those companies wilfully ignore scientists’ warnings about climate change, then those companies’ stockholders need to consider other options for investing.
As suggested by Bill McKibben and the editor, it makes little sense for investors, private or public (i.e., pension funds), to help finance organizations that promote further deterioration of Earth’s environment. If Exxon Mobil and the Bank of England and Norway came to their senses, so can the rest of us. The CEOs of the companies in our portfolios should be made aware that our investments could do more good as contributions to charities than to the bottom lines of the companies.
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