this post was submitted on 05 Nov 2024
482 points (96.9% liked)

World News

39102 readers
2275 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News [email protected]

Politics [email protected]

World Politics [email protected]


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 1 year ago
MODERATORS
 

“The super-rich are treating our planet like their personal playground, setting it ablaze for pleasure and profit. Their dirty investments and luxury toys —private jets and yachts— aren’t just symbols of excess; they’re a direct threat to people and the planet,” said Oxfam International Executive Director Amitabh Behar.

you are viewing a single comment's thread
view the rest of the comments
[–] kambusha 10 points 2 weeks ago (8 children)

Including investments seems a bit disingenuous. I'm sure their personal carbon footprint is already huge without having to include that.

[–] [email protected] 18 points 2 weeks ago (4 children)

The power their money has when invested is far different than yours or mine. They could single handedly ensure certain companies do not fail, get specific contracts, bypass regulations and many other shady things.

[–] kambusha 2 points 2 weeks ago* (last edited 2 weeks ago) (2 children)

Perhaps, but think of it this way: you likely have money invested or money that is invested on your behalf, whether that's personal, 401k, IRA, or government pension. Those are likely investments spread across many companies - so should your carbon footprint take into account what those companies are doing?

I'd suggest that companies should be responsible for their carbon footprint, and legislated accordingly. Pushing it to investors, or on their customers, just seems like passing the buck.

[–] [email protected] 4 points 2 weeks ago

I think people should have some responsibility for the emissions of their investments. If I'm exclusively investing in fossil fuel companies I'd be directly investing in emitting carbon. In the case of the billionaire class, some companies would have never attempted certain projects or even stayed in business without their billionaire supporters. They may have even been able to take losses and coast on investments while they grab their share of the market then shift to being more profitable.

The manipulation some billionaires do with their money is insane. Jeff Bezos managed to shuffle his assets and investments around just right one year that he was "poor enough" income wise to collect a tax benefit for his kid. We absolutely need to include investments when we are judging billionaires, it is often their investments that keep them rich, not some massive pile of cash or gold stashed away somewhere.

[–] Disaster 3 points 2 weeks ago

Not really, unless you directly purchase the shares, you get no proxy voting rights on corporate governance.

When you have an investment account, do you know who does take your money and hold the corporate governance rights? The fund managers.

load more comments (1 replies)
load more comments (4 replies)