Food and Water Watch compiled a list of the companies that have been financing the seizure and destruction of Native lands to make a profit, companies like Citigroup, Wells Fargo, SunTrust (a southeastern banking conglomerate) and oil giant Phillips 66. But where is this profit going? Who is demanding it?
We are. Most investment portfolios and retirement accounts contain shares of these companies. Blindly funding these companies and chasing returns, we are the ones funding the Dakota Access Pipeline.
But you can do something about it. Responsible investors consider the impact of their investments as well as the profits. For example, just a $10k investment in a climate friendly portfolio saves the same amount of carbon each year that you would produce driving over 3,000 miles! (And these investors tend to make more money as well).
Wall Street likes to make you think you can’t do anything about funding unwanted activity like the Dakota Access Pipeline or the fossil fuels industry. They don’t want you to have transparency into what’s in your portfolio, ask questions, or make changes. They’ll tell you it’s impossible or costly and let the system go on pumping.
But thanks to technology, alternatives now exist. With OpenInvest for example, you can easily screen companies by industry. Swipe out not only Phillips 66, but their colleagues in climate change denial, BP and ExxonMobile. Scrap Wells Fargo for corporate corruption and Citigroup and SunTrust for supporting the Dakota Access Pipeline.