06 July 2021
I hadn’t heard about Engine No.1 until everyone else did (when they executed on what seemed like a clever PR stunt of wrestling away a few seats on the Exxon board).
Most of the news briefs made it sound like they’d gotten some clean-energy-only-hippies elected to the board and that they were taking down The Exxon Man from the inside. From reading those bios it doesn’t really seem like that at all, but maybe at least having that story out there makes us all feel like we’re heading in a better direction.
I’d previously tried a few small investments that were branded Environmental, Social, and Governance (ESG), but the idea of my tiny amount of investment money making much difference by divesting didn’t seem compelling. I’m not sure whether investing in Engine No.1’s VOTE ETF will actually be effective or not either, but I at least like the general idea of using activist hedge fund tactics to effect some sort of environmental change.
If you have other ideas about productive climate investments to make, LMK.
Comments or corrections? Feel free to send me an email. Back to home.