What Robert Redford did – how does he think this stuff up? – was to invite the CEOs of Peabody and the four utility companies, along with the two tribal chairmen (Peter McDonald from the Navajo and Abbott Sekaquaptewa from the Hopi) to come to Sundance for a “pow-wow.”
Abbott Sekaquaptewa and I were sitting precariously on the edge of a mesa, the dark desert spread out below us, the night sky overcast and black.
The Hopi tribe is governed by an American-style system of representative democracy more or less imposed on them by the Bureau of Indian Affairs back in 1936.
My new friend, Abbott Sekaquaptewa, had walked me through the history of the Hopi tribe, beginning with their birth as children of the Earth Mother up to about AD 500, when the Hopi had hired a fierce Apache tribe to protect them.
One day, innocently sitting at my desk and annoying no one, I opened a long letter from a guy named Abbott Sekaquaptewa, who seemed to be the Chairman of the Hopi Indian Tribe (as they were known in those days).
We’ll finish up our examination of some of the challenges associated with responsible investing by looking at a few random issues.
We’ve reviewed many potential pitfalls that bedevil responsible investing, but now let’s turn to some of the more philosophical issues in the space.
Last week we noted the tendency of the financial industry to take advantage of investors, including responsible investing (RI) investors. We also observed how this led to the epidemic of greenwashing: recharacterizing rather ordinary investments as RI investments.
ESG offers the chance of a fantastic rebranding for an unpopular [financial] industry, an excuse to crunch a lot of data and then charge for it, a great opportunity to bid for the huge pools of money held on behalf of public sector workers and charitable organizations … and most of all an opportunity for active management to justify its existence. John Authers in the Financial Times
AONE made a grandiloquent gesture with his arm, saying, “These are all my paintings.” They were hung around the four walls of the giant loft and it looked to me like there might be a thousand of them.