Resisting Banks that Fund Climate Change



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emotionally palliative, practically of questionable impact

The emotional pitch that tends to accompany discussions of divestiture is instructive. Banks and financial organizations run on data and probabilities, usually based on the probabilities of fair returns for the extension of capital. I have yet to meet anyone wise enough who can reliably thread the lending policies of major banks to "bad" motivations from executives and employees going about their tasks. By all means, let's encourage policies that produce a clean environment. In the meantime, let's be wise enough to spot that the major companies and organizations we seek to penalize for producing fossil fuels are also exactly the organizations with the deep pockets and motivation to excel at developing the clean tech we are clamoring for. Perhaps it makes sense to study the application of free market capital toward clean technologies rather than promote moving accounts around based on whim, rumor, and incoherent arguments.

Robert W Ives more than 1 year ago