Global temperatures heating up faster than ever? Monster storms on the rise? Ecosystems destroyed and species going extinct?
Who cares about all that?!
It's time to invest in fossil fuels!!!
______________________________________
Private equity firms are using US public sector workers’ retirement savings to fund fossil fuel projects pumping more than a billion tonnes of greenhouse gas emissions into the atmosphere every year, according to an analysis.
They have ploughed more than $1 trillion into the energy sector since 2010, often buying into fossil fuel projects and, thanks to exemptions from many financial disclosures, operating them outside the public eye, the researchers say.
In many cases they are mortgaging workers’ futures by taking the money they have put away for old age and investing it in assets that risk serious damage to the climate.
______________________________________
This is Business As Usual at its worst and most cynical. Outrageous. 😡
FULL ARTICLE --
... Show more...Global temperatures heating up faster than ever? Monster storms on the rise? Ecosystems destroyed and species going extinct?
Who cares about all that?!
It's time to invest in fossil fuels!!!
______________________________________
Private equity firms are using US public sector workersâ retirement savings to fund fossil fuel projects pumping more than a billion tonnes of greenhouse gas emissions into the atmosphere every year, according to an analysis.
They have ploughed more than $1 trillion into the energy sector since 2010, often buying into fossil fuel projects and, thanks to exemptions from many financial disclosures, operating them outside the public eye, the researchers say.
In many cases they are mortgaging workersâ futures by taking the money they have put away for old age and investing it in assets that risk serious damage to the climate.
______________________________________
This is Business As Usual at its worst and most cynical. Outrageous. đĄ
FULL ARTICLE -- theguardian.com/business/2024/âŚ
#Economics #Climate #ClimateChange #Capitalism #BusinessAsUsual
US public sector workersâ retirement savings invested in projects that pump out a billion tonnes of emissions a year
Damien Gayle (The Guardian)
