When Warren Buffett named Greg Abel as his successor at Berkshire Hathaway, much coverage praised Buffett's confidence in him. However, it largely overlooked Buffett's role in funding fossil fuels and coal plants. Los Angeles Times columnist Sammy Roth highlighted this oversight, emphasizing that Buffett has invested heavily in industries contributing to climate change. Roth noted that while Abel initially supported renewable energy, his career at Berkshire has shifted towards backing coal. Roth's reporting underscores the need for scrutiny of prominent investors' impacts on the climate crisis.
Warren Buffett has invested tens of billions of dollars in fossil fuels, propping up some of the nation's dirtiest coal plants as well as major oil and gas suppliers even as the climate crisis threatens human civilization.
Once I saw the announcement that Buffett was retiring and Abel would replace him, I remembered, Hmm, Abel used to work on renewables. I think I know something here that no one else outside [Berkshire Hathaway] does.
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