Originally published by ThinkAdvisor
The head of a fossil-fuel-free mutual fund says Trump’s withdrawal gives investors and companies the responsibility of reducing emissions
He did it. President Donald Trump announced Thursday that the U.S. is withdrawing from the Paris climate accord, just like he said he would during the presidential campaign, but with a caveat, saying the U.S. would also start to negotiate for a new deal “that’s fair” to the U.S., its workers and taxpayers.
Whether that’s even possible is questionable since 195 countries have already committed to the deal to cutting greenhouse-gas emissions in an attempt to keep average global temperatures from rising more than 2 degrees Celsius, or 3.6 degrees Fahrenheit, above preindustrial levels.
An example of that is the vote by a majority of Exxon shareholders on Wednesday to demand more transparency from the oil giant about the impact of climate change on its operations. BlackRock and Vanguard, two of its largest shareholders, reportedly voted for the measure. Former CEO Rex Tillerson, secretary of State under Trump, opposed U.S. withdrawal from the Paris accord.
Garvin Jabusch, co-founder and chief investment officer of Green Alpha Advisors, which manages separately managed accounts and the Shelton Green Alpha Fund focusing on clean energy investments, says it’s more important now than ever that investors in ESG or impact funds know exactly what the holdings are, including their global diversity.
At the time this article was published, Green Alpha did not hold any positions in Exxon, BlackRock or Vanguard. Please find additional important disclosures here https://greenalphaadvisors.com/about-us/legal-disclaimers/