More Wall Street Firms Are Flip-Flopping on Climate. Here’s Why.
www.nytimes.com
Financial giants were already trimming their climate pledges amid Republican attacks. Then came concerns about legal risks.
  • hydropticEnglish
    31·
    9 months ago

    Wall Street’s retreat from earlier environmental pledges has been on a slow, steady glide path for months, particularly as Republicans began withering political attacks, saying the investment firms were engaging in “woke capitalism.”

    (Emphasis mine.)

    Conservatives have completely lost their fucking minds.

    But as that Columbia prof is quoted saying in the text, nearly all of this “green” bullshit is completely cosmetic anyhow, so it’s no surprise that corporations are just “removing the makeup” so to speak

    • silence7@slrpnk.netOPEnglish
      3·
      9 months ago

      The investor-activist group they quit was about to switch from ‘make corporations disclose their emissions’ to ‘make corporations cut their emissions’ which is what the problem was. Had they actually gone along with it, it wouldn’t have been cosmetic. (They didn’t, so…)

      • hydropticEnglish
        21·
        9 months ago

        Yep exactly. They were never going to go through with any of it anyhow, they just essentially signed a paper saying “yep when the time comes we’ll do it for sure! You can trust us, we’re not lizard people!” and that was their greenwashing done. Came time to actually do something and they went “no thank you, sounds expensive”

        • silence7@slrpnk.netOPEnglish
          1·
          9 months ago

          The crazy part is that in the aggregate, they own enough of the stock market that it’s a net benefit to decarbonize