Tobacco. Assault weapons. Oil — and any other product or company that contributes to climate change.
That’s the list of industries so-called ethical investors typically avoid, preferring to put their money into stocks of companies that do no harm.
But a couple of new names have joined the toxic list, according to Toronto-based ethical investment advisor Tim Nash.
“The top two companies that tend to get flagged these days as ethically questionable are Facebook and Amazon,” said Nash.
Reports of Amazon’s poor labour practices have made headlines while Jeff Bezos’s billions have grown, and Facebook. “has stoked the division around very contentious issues, whether it’s Black Lives Matter or climate change,” he said.
Add the recent antitrust report by American lawmakers that said big tech companies including Apple and Google abuse their “monopoly” power, and some investors are turning up their noses.
According to TD Securities, 2020 will be a