Taking a personal stance to help halt global warming
There is a sizeable cost to global warming. It is one reason scientists cite for us having more, and worse, flooding across Britain. The Thames Barrier cost over £1 billion almost 30 years ago. It has been raised over 20 times, to protect London.
You may think: what can I do about it? I am but a tiny cog in a wheel.
Jews have been at the forefront of campaigns for social justice worldwide. Here is an opportunity to take part in an equally important campaign and you don’t even have to get out of your armchair.
If you have a unit trust, stocks and shares ISA, pension, or any investment whatsoever, that is directly or indirectly invested in the stock markets, whether in the UK, Europe or further afield, it is almost certain that you hold shares in companies whose activities go against your personal and ethical beliefs. The companies’ practices may also break, or go against the spirit of, Jewish law.
You may disapprove of smoking, yet be invested in a tobacco company. A company you invest in may force people to work on the Sabbath.
On the other hand you may want to invest in companies that treat their employees well, for example, if they have young children, make arrangements for them to come to work a little late. If you have had children, you will probably know that it can be a nightmare to get them to and from school and be on time for work, unless you can afford a nanny or au pair.
I used to advise investment houses on how to establish Ethical Investment Funds. There are now around 100 such funds in the UK with many £billions of investments. I always wondered if there was scope for a Jewish one.
Imagine that there is a Judaic fund being established. Email me at leon.pein@big-orange.com, suggesting corporate activities that you favour or oppose, as a Jew, according to Jewish law, or simply as a member of the human race (but remember these are already excluded, or favoured, in existing funds). I will publish a list and people can vote for the corporate activities they most want to avoid or favour.
Ethical investment decisions are not always black and white…
Pig farming??
Islamic investment funds exclude companies where there is a significant involvement in pork production. A Jewish fund that invested in pork production would probably become a laughing stock. However, would you exclude investments in pig production, or would you think; most people aren’t Jewish, they like pork, there is no campaign to convert the world to Judaism, and so, all things being equal, many people will eat pork in the future, so why not invest in it?
Alternatively, would you avoid all meat production because you are vegetarian and/or you believe that it contributes to global warming?
Wearing my other hat as founder of Organic Kosher Foods, my farmers’ response to that claim was; “Our lambs roam free on Welsh hills, eat pesticide-free gorse and bramble, on rocky slopes unsuitable for modern farming. I wonder how many people will eat gorse instead of delicious organic lamb. We reduce global warming, since we are freeing up land elsewhere for arable farming.”
Leon Pein is an Independent Financial Advisor specialising in socially responsible investment. He was in the top 10 in the 2009 UK Investment Adviser of the Year Award tables, every month.