Climate investment funds - not liked by conservatives

Do conservative forces (such as American Republicans) really want to destroy the world? One can reach only this conclusion, when one reads the news about decisions made by, e.g., Texas. The state has decided that banks and other financial corporations, which would offer “climate investment funds”, are not allowed to do business in the state. Although the ban also concerns other “responsible investment funds”, it is quite clear that the action is mainly against green investments. In banning the responsible investment funds, the government of Texas states that those funds discriminate against companies, which are important for the economy of the state. Such discrimination shall not be allowed.

But hey, the banks offering climate investment funds also offer traditional funds. The reason for having the new responsible or ethical investment tools is to cater for customers who want ethical investment. Thus, there is no discrimination. In a similar vein, one could ban such glass sellers from selling products, which have mint chocolate chip glass in their variety: it discriminates against glass with other flavours. Clearly the reason has nothing to do with discrimination but the fact that advertising climate funds may get the customers to think that maybe investing in oil companies is not a climate-friendly action.

Investing money on responsible funds may speed up green shift, and thereby decrease the profits of oil companies. Such a change is good for the world, and needed in the long run – or maybe not a long run any more - but will affect the oil lobby in Texas.