This is no hot air: how to profit from climate change
CNN Money reports that companies that have been aggressive about reducing carbon emissions since 2012 have outperformed those that are merely blowing hot air about reducing their carbon footprints, according to a report by asset manager BlackRock.
The report looked at the stock market performance of more than 1,850 companies involved with the Carbon Disclosure Project. You’ll recognize some of them: BP PLC, General Motors Co. and IBM Corp.
The companies that were in the top fifth in cutting their carbon intensity topped the world stock market by nearly 6 percent. The worst 20 percent of companies trailed the market by nearly 6 percent. That’s a big difference.
“Sustainable investing is not a passing fad. This is not just about doing or feeling good,” BlackRock wrote.
“It is arguably better to focus on the companies that are best in class — even if they happen to be within polluting industries,” the report said.
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