Norway’s largest private money manager, Storebrand Asset Management, excluded and divested itself of more than two dozen listed companies under its new climate change policy, citing concerns with lobbying, coal, and oil sands.
Virtue signaling climate justice is more important than making money for a company’s owners. Which money and associated investment profits are the only means of amassing the wealth necessary to do anything substantive about our environment (which is useful) or about our climate (which need is dubious at best).
Of course, the other alternative, which would be the end game if enough climate justice warriors succeeded en masse, is global impoverishment and the shutdown of modern economies. That, as the now known to be foolish lockdowns have shown, reduced pollution to a significant degree, even if they had little effect on climate.
Luv ya, Storebrand, mean it, buh bye.
Oh, and I won’t be investing my pennies in Storebrand.