They only exist for one reason and one reason only - to make profits and return value to their investors. Really you have two choices - vote with your feet and starve these companies of oxygen (money) wholly to force change, or lobby your politicians. We should call these companies out for their absolute disgraceful hypocrisy. Different markets have different morals and companies know/play to this. We see this all the time now across society - people love seeing western companies with rainbow flags, meanwhile ignoring a World Cup being held in Qatar in a few months under shocking morals, sponsored by same said companies, totally ignoring diversity, etc. is worth watching as he actually delves a bit deeper why tobacco is such a good investment for them how and governments have almost made the big tobacco companies bullet proof as an investment. Unfortunately I can’t find the specific conversation I’m looking for, but the article lightly touches on the subject. It’s a bittersweet conundrum - I agree with him wholeheartedly, but also people can/should vote with their feet (money) and refuse to give these companies money if legally they are still allowed to exist and you disagree morally with what they do/stand for. It just simply wasn’t his/their job to police companies morally. It was entirely up to people to disagree, not invest, lobby politicians and alter the laws, etc., at which point the companies wouldn’t exist anymore and they could then no longer invest in them. While companies were legal entities that they could legally invest in, and gave good returns to their investors, they would continue to invest in profitable companies to deliver returns for their investors. He was asked a question at an investor meeting many years ago about why they thought it ethically acceptable to invest in British American Tobacco (unfortunately I can’t find a clip), he simply replied they were an investor and not a moral judge of society or in the market of making ethical judgments. The person who nailed this best for me was Terry Smith, a successful UK fund manager (Fundsmith).
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