Finews.asia interviewed me about my consulting work for pension funds. The interview contains a few provocative statements. The quote from the title comes from the following context:
Our goal has to be to eliminate fossil fuels, but an exit from one day to the next simply isn’t possible. The global economy would collapse without this source of energy. That’s why it’s important to keep financing it, but those sources of funding need to be transparent and with environmental requirements. For me, it gets hypocritical when companies attempt to conceal transactions like these.
The sustainability expert says UBS and others don’t need to be overly worried about working with coal and oil?
No, but I’d rather that a western bank like UBS conducts this business, and does so in a transparent way. It’s the age-old conundrum of engagement vs divestment: a well-known foundation as a shareholder in a big oil company can do more for sustainability than an opaque Middle Eastern sovereign wealth fund.
You can find the entire interview here.