Pay Attention To The Youth

In the past week, I have watched a few videos that speak to the next generation’s expectations and desires. They are concerned, as we all should be, about what havoc we have wreaked on our climate that has created global warming. It is scary and will continue to get more alarming in the future.

Seeing the destruction of art to get the point across is not something I applaud, but the movement is forcing people to stand up and notice.

I watched a young woman stand up at a White House press conference to prod press Secretary Karine Jean-Pierre about the new legislation expanding oil drilling on public lands. Although Biden wants to block oil drilling in the future in the Atlantic and Pacific oceans, he is limiting some drilling to take place now. This young woman asked the question we should all be asking. Why? To change the rapid pace of global warming, shouldn’t we only put massive capital and tax benefits into new energy?

I also watched a woman who attended the Citibank shareholders meeting. She got up and asked why Citibank was giving capital and investing in oil and gas companies. She wanted to know how Sunil Garg wants to leave this world for our children and future generations. He commented that it was a tiny portion of Citi’s investment portfolio. She pushed again and asked so why even bother? She has a point.

As this generation grows up and puts their capital into the markets, they won’t put their cash in “evil” corporations. They won’t support companies in China that are destroying the environment. They won’t support cigarette companies. They won’t support banks that lend and invest in companies creating havoc on the earth. They want to support those who are thinking about a better world. One person multiplies into many, and shareholders can make a difference.

This is no different than their interest in younger politicians who represent their views vs. the aging politicians who are out of touch with the realities of today. The world is shifting, and it is unclear to me that public companies that have been around for hundreds-plus years will survive unless they start making changes that speak to what the next generation wants to get behind and financially support.