Can private equity solve the climate challenge?

An open secret within sustainable investing is that investing (or not investing) in publicly traded securities - such as US equities or investment grade bonds - has very limited real-world impact. If you purchase shares in, say, Apple, no additional money goes to the tech behemoth. Your stock was issued by Apple decades ago and your order merely swaps shares in the secondary market, with you buying them from another investor. Apple is unaffected by your activity. Following this logic, investors can sell all their 'non-sustainable' oil and gas publicly traded shares. They can replace t...