Ross: Climate change will eventually make us all believers
Jan 27, 2020, 8:53 AM | Updated: Jan 29, 2020, 7:43 am
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Two weeks ago, BlackRock, the Wall Street powerhouse which manages trillions in assets, announced it would set up special funds that avoid investing in coal and oil, so that climate change believers could invest according to their vision of the future.
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And I see that companies ranging from BP to Microsoft are also responding to climate change, with Microsoft even promising to be carbon negative by 2030! Which I guess means that you would be hastening the end of the world by not playing Grand Theft Auto 5.
Which is why I just wanted to take a moment to ask the climate believers to go easy on the climate deniers.
Here’s why: I saw an economic study that in areas with a lot of climate “deniers,” waterfront homes sold for 7 percent more than in the “believer” neighborhoods. That’s because people invest according to their vision of the future.
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You believers who find yourselves living at sea-level or holding fossil fuel stocks are going to wake up one day in a cold sweat realizing it’s time to sell.
When that day comes – who are you going to sell to? Right! That person who thinks you’re a nut-case tree-hugger.
So be nice to that person! That person may end up as your best friend ever. Just don’t wait too long, because as a wise investor once said, when the water reaches the third floor, everyone’s a believer.
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