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In Hoax Letter Calling Out Climate Inaction, Pranksters Urge Asset Manager Behemoth to Ditch 'Zombie Funds of the Apocalypse'

In Hoax Letter Calling Out Climate Inaction, Pranksters Urge Asset Manager Behemoth to Ditch 'Zombie Funds of the Apocalypse'

Andrea Germanos, staff writer

Because "generating sustainable returns into the future requires that we have a future," the head of the world's biggest money manager, BlackRock, sent a letter Wednesday to investors saying it would start to consider as "sin stock" companies that fail to align their business models with the goals of the Paris climate accord.

Or so a group of climate-minded activists would have you believe.

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To avoid the zombie apocalypse the entire financial system needs to be overhauled. Currently the system is based upon maximizing economic activity, which essentially means expending as much energy as possible. Efficiency is an economic sin under such a paradigm. Life-based values are going to have to replace activity in order to achieve meaningful reform. I am not hopeful that such reform could take peacefully, as the class war that has been heating up is ready to go thermonuclear. As long as police and military might are at the disposal of the currently moneyed class, the current economic system will remain firmly entrenched due to inertia. I’m still glad I didn’t procreate and so don’t have to contemplate the agony of any progeny.

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Black Rock to the rescue? I don’t think so. This Mega Hedge Fund makes money for our Wealthy Enemies using The Fossil Fuel Industry as their vehicle. Gotta love the 2050 deadline. By then we will all be Toast.

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While the effort to “shame” BlackRock into better activities is admirable, it won’t work, because neither BlackRock nor the hard right have any shame. They’ll hem, haw, and harrumph until most people glaze over, and forget about such parasitic activities by big money groups. “Sin Stocks” will continue to be pursued, traded, get options listed, generate commissions, and even pay dividends, but they will also become another of the many weaponized securities that already exist to provide “investment opportunities” for wealthy individuals and corporations.

/facepalm

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I presume you are touting capitalism. Capitalism, or the abuse of it is why we have the CO2 problem we have. Our fossil fuels, during the times you mention, were farmed and used in a way that realized max profit, not best use methods, and certainly not anything remotely resembling conservation.