Home Economy Does fossil fuel investing result in dirty money? » Albuquerque Journal

Does fossil fuel investing result in dirty money? » Albuquerque Journal

2

SANTA FE, N.M. — In 2017, the Guardian reported on a study by the Climate Accountability Institute that found that 100 companies are responsible for 71% of the world’s emissions. Not surprisingly, ExxonMobil, Shell, BP and Chevron were among the highest investor-owned emitters.

Judith Polich/For the Journal

I called the manager of my IRA. “I want you to sell any holdings I have in fossil fuels,” I said. “OK,” she said slowly, “we will sell any stock you own, but what about funds that hold some fossil fuels, some good diversified funds hold small amounts of fossil fuels, and, what about utility stocks that use fossil fuels? They pay pretty good dividends.”

“I want out,” I said. “Find me some environmentally conscious funds, including bond…

Click here for full article…subscriber.abqjournal.com