Green Investing Won’t Work

Green Investing Is “Definitely Not” Going to Save Our Behinds                                                      A former BlackRock executive loses faith in free-market climate solutions.

This article is a reprint from Mother Jones Daily April 2, 2021. This story was originally published by The Guardian and is reproduced here as part of the Climate Desk collaboration.

From his desk in midtown Manhattan, Tariq Fancy once oversaw the beginning of arguably the biggest, most ambitious, effort ever to turn Wall Street “green.” Now, as environmentally friendly investing grows at an exponential rate, Fancy has come to a stark conclusion: “This is definitely not going to work.”

“I have looked inside the machine and I can tell you business does not have this,” Tariq told the Guardian. “Not because these are bad people but because they run for-profit machines that will operate exactly as you would expect them to do,” said Fancy.

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