Climate-change investing is wrong-headed move

John F Wasik / Mumbai August 26, 2008, 3:48 IST

My neighbour was palpably proud of himself when he mentioned at a backyard barbeque he had bought a specialised fund that invested in a solar-energy company.

When he asked me what I thought of his well-intentioned investment, though, I had to play killjoy. Instead of patting him on the back, I told him it was a bad idea. While I sense that climate change is probably a man-made global problem that needs to be addressed by all of us, as investors we often pursue the wrong ideas.