by Leslie Samuelrich, President of Green Century Funds
The climate crisis is precipitating a sustainable investment revolution, and I think that revolution will endure in 2020.
When the environmentally-responsible mutual fund company that I lead was founded in 1991, the average investor was not concerned about sustainability. Times have changed. Nearly 80 percent of respondents to a recent study said that they “love the idea of investing in companies that care about the same issues” as them. This isn’t just lip service.
The evening after Thanksgiving, I turned on NBC Nightly News with the avuncular Brian Williams, expecting frothy stories about turkey dinners and children’s dreams coming true. Instead, I got a line-up that started with Ray Rice’s exoneration by the NFL, complete with clips of him beating his wife-to-be, then one on shoppers fighting over merchandise at a Black Friday event, followed by protests against Ferguson’s grand jury decision not to prosecute police officer Darren Wilson.
With the climate crisis staring us right in the face, the need to transform our daily routines has become increasingly apparent. A part of the solution may be a new twist on the very old concept of sharing things, it’s called collaborative consumption. We’ve seen how peer-to-peer networks allow us to share and buy goods and services from each other, and now that same concept is being applied by communities all over the world as a more efficient way to get around.
Magical thinking. According to the McGraw Hill Concise Dictionary of Modern Medicine, this is a condition, “similar to a normal stage of childhood development, in which thoughts, words or actions assume a magical power, and are able to prevent or cause events to happen without a physical action occurring.”