Dislike! Sustainable Fund Says Dump Facebook (Bloomberg)


No responsible investor should own Facebook Inc. shares, according to the head of sustainable investing at the biggest bank in the Nordic region. That’s an unjustifiable overreaction.

Sasja Beslik, who runs Nordea Bank AB’s sustainable finance unit, made the call to divest this week after Cambridge Analytica used data from as many as 87 million users of the social network without their knowledge or permission. He had already put the shares in “quarantine” in March.

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In the midst of a global pandemic, Apple announced one of the corporate world’s most ambitious environmental blueprints – to reduce the climate impact of every Apple device to net zero by 2030. The plan involves cutting 75 per cent of the company’s existing carbon footprint, not only for its own business but also across the manufacturing supply chain and product life cycle.

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