, Columnist
Wall Street Will Regret Helping the World Burn
For an industry in the business of money, it sure has a funny way of ensuring its destruction.
Wall Street is pouring fuel on the climate fire.
Photographer: DAVID SWANSON/AFPThis article is for subscribers only.
If a financial adviser advises you to cash in some of your 401(k) to cover living expenses, fire said financial adviser immediately and leave them the harshest possible Google review. Yet in its panicky retreat from the climate fight, Wall Street is doing just that, stealing from its own future wealth in exchange for short-term cash and comfort.
By deciding en masse to abandon climate ambition and embrace the fossil fuels destroying the environment, financial firms will make it more difficult to limit that destruction and the economic and financial reckoning it will bring.