cross-posted from: https://lemmy.zip/post/52851375
Norway has suspended its ethical investing rules to avoid its $2.1 trillion (€1.8 trillion) oil fund being forced to sell out of Amazon, Microsoft and Alphabet due to their work for the Israeli government, according to its influential finance minister.
“So obviously we don’t want our national fund supporting companies that help perpetuate human rights violations, right?”
“Yeah sure but have you seen the three month chart on Dead Babies ‘R’ Us?”
“Oh shit yeah never mind then.”
I think if you can ignore ethics rules at your convenience, I think they’re more like ethics suggestions
Ethical while convenient, but mostly just for votes.
Isn’t it strange how ethics and getting all Dat $$$ are like water and rabies?
like water and rabies
Stealing that, it’s gold, so you know ;}
AhhhhhThank you, thank you verrrrry much:)
not only a bad decision from ethics point of view, but also a bad financial bet with incoming ai bubble burst
Yeah I hope this bites them.
Remember that the norwegian pension fund is incredibly large, and so broadly distributed that it just follows the market itself. https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Norway Still doesn’t mean they should avoid their own rules
