thank you for those investment links. I've been avoiding switching the bank my TFSA is in and it's going to be a project/goal I take more seriously this quarter. thank you for sharing/remotivating me!
Would it help to make a plan for when you'll work on the bank stuff? Like book 30 mins/week in your calendar at a time that makes sense to chip away at it this fall? You could use that time to figure out the tasks involved (research new banks, practicalities of switching, etc) and do as much as you can, then leave a note for Future You In One Week on what to start with?
I've maybe made it harder for myself - in a whole climate report (not actually a report, just what I'm calling the project). I've been doing the digital clean up challenge through the typeface group.. I was looking at the 2 assessments/tests you posted recently and seeing what I didn't know (mainly the cool climate calculator), so I've started gathering the info for that and seeing what other tweaks I can make.
I did end up getting a rec for where to switch to so have been looking into that! (and making sure it's not on a list anywhere (earth911, bankingonclimatecrisis report, etc))
Wonderfully written and extremely helpful- I’ve been stuck in the doomsday phase and this offers concrete advice, especially for investing in the future! Thanks!!
Hi Karen, it makes me so happy to hear you found this helpful for seeing a path forward from doom, thanks so much for reading and taking the time to comment!
Thanks so much for this comment, and for your work on poverty, Joan! You might be interested in our study on the disproportionate climate impacts (and powers) of the global elite (which includes most middle-class North Americans and Europeans). https://wecanfixit.substack.com/p/your-top-5-climate-superpowers
I confess I haven't dug into the methodology of calculating the "pollution of investments" argument, but I take issue with the general premise. The term "investment" has been twisted to cover stock purchases, which are in fact largely mere "speculation". While in principle buying stocks purchases a proportional ownership of shareholder equity, that's totally illiquid (only realizable on company dissolution) except for the portion of profits distributed as dividends. Except for large enough blocks of stocks to influence company policy, a company doesn't care who owns its stock; it has nothing to do with its business model or corporate management.
When you buy stock, you're buying a virtual piece of paper, on the hopes that you can sell it at some point in the future at a profit (speculation). Except for IPOs, the company never sees the money; it goes to the former holder of the stock, so you're not actually "investing" in the company.
And if someone buys Treasury Bonds, what is he "investing" in? He's just loaning money to the government for a fixed return, like a bank. One can argue that purchasing certain corporate bonds at the time of issue could be instrumental, but municipal bonds? And if a utility floats a bond issue to add solar capacity, or to rework its grid to better handle distributed power and home solar, is that "polluting"?
And so I'm dubious about the entire premise that equates magnitude of "investment" with degree of pollution.
Hi Duncan, thanks so much for these thoughts! Fair question on distinguishing speculation and investment, and in questioning how much of the financial system is imaginaries anyway! I won't be able to go into detail here, but I'm working on a project to dive into some of your questions in more detail-- please stay tuned!
Well…….. I move through all the feelings quite regularly, though despair and being very cynical are the most common. Ive worked in the area since 1990, and seen some signs of hope, but many things just get worse and projections become even worse then in the early days. To quote BD ” it aint dark yet but its getting there”. So on good days I think we have some hope to ameliorate. On bad days we are stuffed!
Personally I try not to focus excessively on outcomes I cannot control, but on doing the work I can that will help move things in the right direction. Try being the key word here-- it's not easy!! Wishing you all the best, hang in there.
Hi Kimberly, of course you are right, being an ostrich is not an option. But that article while positive is 8 years old and the situation on many fronts, not only with climate and biodiversity but also socially is much worse or getting worse. My children and grandchildren will have the real issues to respond to so keep fighting on, I am admiring of you.
Agree, I find it both comforting and infuriating/demotivating/disturbing knowing that many have been in this work much longer, and they've also had their ups and downs. Take good care.
Loved this one and will use with a new student group I'm going to start! A sailboat!!!
Oooh excited to hear more about the new student group, thank you for supporting students in navigating All the Climate Feels Linda! <3
This is great and I'm going to use it in a talk, with credit!
best, Richard
Oh that makes me so happy-- thank you, Richard! Good luck with the talk, let me know how it goes!
thank you for those investment links. I've been avoiding switching the bank my TFSA is in and it's going to be a project/goal I take more seriously this quarter. thank you for sharing/remotivating me!
Yay! That's so good to hear, Shim! It took me years to switch my bank, so I get it. I wrote about how I switched banks here: https://wecanfixit.substack.com/p/dont-be-fossil-fooled-celebrating
Would it help to make a plan for when you'll work on the bank stuff? Like book 30 mins/week in your calendar at a time that makes sense to chip away at it this fall? You could use that time to figure out the tasks involved (research new banks, practicalities of switching, etc) and do as much as you can, then leave a note for Future You In One Week on what to start with?
Let me know how it goes! :)
I've maybe made it harder for myself - in a whole climate report (not actually a report, just what I'm calling the project). I've been doing the digital clean up challenge through the typeface group.. I was looking at the 2 assessments/tests you posted recently and seeing what I didn't know (mainly the cool climate calculator), so I've started gathering the info for that and seeing what other tweaks I can make.
I did end up getting a rec for where to switch to so have been looking into that! (and making sure it's not on a list anywhere (earth911, bankingonclimatecrisis report, etc))
I'll be adding it into my weekly checklist :)
Great! Yes, it is my experience too. I will share it!
Thanks for sharing, Anne-Marie!
Wonderfully written and extremely helpful- I’ve been stuck in the doomsday phase and this offers concrete advice, especially for investing in the future! Thanks!!
Hi Karen, it makes me so happy to hear you found this helpful for seeing a path forward from doom, thanks so much for reading and taking the time to comment!
Thank you for this excellent post. I love your idea to drill down on how investments pollute and how the wealthy pollute more than the poor. T
Thanks so much for this comment, and for your work on poverty, Joan! You might be interested in our study on the disproportionate climate impacts (and powers) of the global elite (which includes most middle-class North Americans and Europeans). https://wecanfixit.substack.com/p/your-top-5-climate-superpowers
You're very welcome and thanks for the link!
I confess I haven't dug into the methodology of calculating the "pollution of investments" argument, but I take issue with the general premise. The term "investment" has been twisted to cover stock purchases, which are in fact largely mere "speculation". While in principle buying stocks purchases a proportional ownership of shareholder equity, that's totally illiquid (only realizable on company dissolution) except for the portion of profits distributed as dividends. Except for large enough blocks of stocks to influence company policy, a company doesn't care who owns its stock; it has nothing to do with its business model or corporate management.
When you buy stock, you're buying a virtual piece of paper, on the hopes that you can sell it at some point in the future at a profit (speculation). Except for IPOs, the company never sees the money; it goes to the former holder of the stock, so you're not actually "investing" in the company.
And if someone buys Treasury Bonds, what is he "investing" in? He's just loaning money to the government for a fixed return, like a bank. One can argue that purchasing certain corporate bonds at the time of issue could be instrumental, but municipal bonds? And if a utility floats a bond issue to add solar capacity, or to rework its grid to better handle distributed power and home solar, is that "polluting"?
And so I'm dubious about the entire premise that equates magnitude of "investment" with degree of pollution.
Hi Duncan, thanks so much for these thoughts! Fair question on distinguishing speculation and investment, and in questioning how much of the financial system is imaginaries anyway! I won't be able to go into detail here, but I'm working on a project to dive into some of your questions in more detail-- please stay tuned!
Well…….. I move through all the feelings quite regularly, though despair and being very cynical are the most common. Ive worked in the area since 1990, and seen some signs of hope, but many things just get worse and projections become even worse then in the early days. To quote BD ” it aint dark yet but its getting there”. So on good days I think we have some hope to ameliorate. On bad days we are stuffed!
Hi Martin, I hear you! Staying in this work for the long haul with purpose and sanity intact is an ongoing challenge. I confess I've googled "climate change when to give up?" myself. It led me to a wonderful piece by Jim Shultz which I found really helpful-- https://www.yesmagazine.org/environment/2014/04/30/to-my-friend-the-climate-defeatist-here-s-why-i-m-still-in-the-fight
Personally I try not to focus excessively on outcomes I cannot control, but on doing the work I can that will help move things in the right direction. Try being the key word here-- it's not easy!! Wishing you all the best, hang in there.
Hi Kimberly, of course you are right, being an ostrich is not an option. But that article while positive is 8 years old and the situation on many fronts, not only with climate and biodiversity but also socially is much worse or getting worse. My children and grandchildren will have the real issues to respond to so keep fighting on, I am admiring of you.
Agree, I find it both comforting and infuriating/demotivating/disturbing knowing that many have been in this work much longer, and they've also had their ups and downs. Take good care.