Treating oil companies as pariahs will kill off any green revolution
From our UK edition
When fossil fuel divestment was merely a gesture by universities, the Church of England and the Prince of Wales it was easy to ignore; it is rather less so when the head of the world’s largest fund management company says that he is going to start ‘exiting investments’ in coal producers and other companies he claims represent a ‘high sustainability--related risk’. That is what Larry Fink of Blackrock, which manages £5 trillion worth of investors’ money, did in a letter to business leaders this week, citing last year’s climate change protests as evidence that attitudes were changing.