environment

Global warming was invented to make money: “ By 2018, BlackRock, Vanguard, and State Street dominated the passive index fund industry. Together they managed over 90 percent of all assets under management in passive equity funds, estimated to be $8–10 trillion, and they were the largest shareholder in 88% of the U.S. S&P 500 firms.

To say that these firms can influence the decisions of the management and directors of these corporations would be an understatement. The chairman of BlackRock is on record as stating that companies in their portfolio must take the necessary steps to decarbonize.

For those companies in industries like steel manufacturers, automakers, machinery manufacturers, aviation, foundries, and others who can't change their carbon footprint, there is good news: BlackRock can sell you carbon credits to offset your emissions to get to net zero. You don't emit less carbon; you emit less profit. However, your shareholders, while poorer, just feel better.”

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