Just days after it was reported that Jeff Ubben would be shutting down his “green” Inclusive Capital fund, the former ValueAct manager isn’t pulling any punches with what he thinks about green investing.
In a new Bloomberg report, Ubben spoke out about what he is calling the “echo chamber” of traditional climate summitry. After shuttering his sustainability fund, which he said was not “rewarded” by markets, Ubben has joined a chorus of voices speaking out about “green” energy advocates who, in the name of virtue, the climate and the environment, are creating more division than they solve.
“It’s been this echo chamber of diplomats going to these conferences and putting out flowery language and goals, but it doesn’t have traction,” Ubben said, talking about climate conferences.
“There’s no money behind it, which is why company balance sheets are so important,” he added. “We all need to work together.”
Ubber originally had the goal to “collaborate with companies whose core businesses address essential societal needs with a focus on reducing negative externalities” when he started Inclusive Capital. But, as the report notes, the “exact opposite”…
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