Can a leopard change its spots. Some believe so in that investors will altruistically sacrifice short-term self-enrichment for the future of the planet and its people. It makes for good PR, but the truth is more subtle.
Ethical funds are just a fraction of the £4.5tn investment industry.
An example is that the world’s five major tobacco companies are thriving, profitable and increasing sales. With divestment, someone with a lot less scruples, a lot less concern over long-term impact becomes the principal investor.
The fossil fuel divestment campaign makes demands that no corporate executive could ever meet. They must: stop searching for new hydrocarbons, stop lobbying for special breaks from government, and commit to leaving their existing reserves in the ground. The consequences to share price from announcing such policies is greater than the threat posed by green investors taking out their money.
Stop tinkering with capitalism - Get rid of it entirely