Monday, 27 August 2007

Ethical investment angst

Took time off from my holiday, during which I am trying to leave my brain idling in neutral, to complete a questionnaire (sent annually, I am told, by an investment manager to a random 3,000 investors in its "Ethical" fund) about my investment priorities. The questions were difficult. For example: is the climate change issue my top priority, or only one of my top three, or not even in the top three? (Answer after much angst but, after recalling all I have seen and read about this, especially Al Gore's film, unhesitatingly: my top priority.) Am I against all investment in the generally carbon-guzzling electricity, mining, oil and gas, and water sectors? (Answer: no, but only because I support investment in renewable technologies and the question lumped renewables and non-renewables together, as I explained in the section for further comments.) How important is avoiding investment in the nuclear power industry? (Answer: of highest importance - no available space to explain why.)
It is all futile of course, since the market machine will pour capital into these sectors anyway, and my small preferences will make no difference. So it goes.

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