HSBC is the latest financial institution to drop support for extractive energy. Earlier this year, the biggest pile of investment money, the Norwegian sovereign fund, did likewise. So what do we know that the U.S. oil and coal companies would like us to not know? Why, it is increasingly clear to every smart dollar that dirty energy is coming to an end, and less and less money can be made through them. To HSBC, it is less about protecting the environment as it is the increasing risk in investing in dirty energy.
This is another compelling reason why the 2018 mid-terms are so important. The current crop of politicians in Washington D.C., of both parties, will continue to take money from whoever they can, and damn the environment. Meanwhile, we fall further and further behind other nations in renewable clean energy development.
Support the likes of Bernie and Nixon this November, and throw out the centrist Democrats, and the Republicans. Re-bury these dinosaurs, current and ancient, before we miss the next wave of economic growth in clean energy.