Blackstone Sets Goal to Reduce Carbon Emissions
First of all I hope you can get to the article, this may be behind the WSJ paywall.
Blackstone has to go on the record. I can say that this new virtue signaling policy is why you should divest any equities in which Blackstone has a position. By involving themselves in climate issues they are showing that they have become distracted and that is not in their investors interests. They are also forcing the companies in which they invest to become in efficient in the pursuit of "lower carbon emissions".
With the rise of oligopolistic hedge funds and sovereign management funds in the equity markets we are moving into danger. If they operate with their shareholders best interests a heart they are efficient forms of investment management; if they start to make decisions on social or ideological policy then they are a rogue elephant that endangers ultimately our prosperity.
J
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