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Drilled

Big Oil vs. Divestment

Drilled

Pushkin Industries

Earth Sciences, True Crime, Science

4.62.4K Ratings

🗓️ 22 August 2020

⏱️ 14 minutes

🧾️ Download transcript

Summary

A few weeks ago the Trump administration quietly proposed a rule that would make it harder for financial managers to investment retirement funds in environmentally or socially responsible ways. The fossil fuel industry had been calling for the rule...

Transcript

Click on a timestamp to play from that location

0:00.0

Hey, Drill Listers, we are still on a production heydus working on our next season, but there's

0:17.4

a little sneak peek of that season at the end of this episode, so make sure you listen

0:23.1

to the end for that.

0:24.9

The reason we're coming at you today is because I had the opportunity to speak with David

0:29.3

Sarada about a recent piece that he did in his newsletter, TMI, Too Much Information.

0:35.6

You might recognize David's name from his previous gig at the Guardian, or as a speed trader

0:41.7

for Bernie Sanders.

0:43.2

I wanted to talk to him because I get his newsletter and I saw an item in there that

0:48.6

we had actually missed on our policy tracker, so I added it, but I also wanted to get the

0:52.6

backstory on it.

0:53.9

It was a sort of obscure little proposed rule that basically makes it harder to invest

1:00.7

retirement funds in environmentally sustainable funds.

1:05.5

It's been pushed mostly by the fossil fuel industry no surprise, and we're going to pick

1:10.6

up this conversation with David explaining more about it in a minute after this message

1:16.2

from today's sponsor.

1:18.1

I'm Amy Westervalt, and this is DrillT.

1:23.9

I was hoping that you could start by saying, what is this rule change and what brought

1:46.6

it to your attention initially?

1:49.4

Sure.

1:50.4

ESG investing is basically the technical term for environmental, social, and governance

1:59.1

based investing.

2:00.5

What that's a lot of jargon for is investing in a way that takes into account what the

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