This is potentially good business and potentially good for the environment.* We have long asserted that the sort of approach outlined in the attached article is one of the ways environmental issues could/should be addressed. See a problem with a mine? Want it closed? Buy it. Shut it down. That’s a perfectly valid way to address things.
Want to protect the rain forest? Buy vast tracts of it. There are plenty of wealthy greens out there who would love to have a few vanity acres of virgin jungle. Stick a camera on a mahogany tree and let them view the toucans and monkeys running around, and voila a protected reserve.
We offer more thoughts on minarchist environmentalism HERE.
On its website, Greenpeace Sweden released a letter to US bank Citigroup on Tuesday stating the environmental group’s interest in buying Vattenfall’s lignite operations in eastern Germany.
Citigroup is charged with selling off Vattenfall’s power plants and coal mines in the region, which are worth between 2 and 3 billion euros ($2.2 billion and $3.3 billion)…
…Greenpeace called on Vattenfall and the Swedish government to accept responsibility also for greenhouse gas emissions outside Sweden’s borders, and added: “If they don’t, we must handle the matter. The brown coal must stay in the ground.”
Good. If you want it to stay in the ground, pay to keep it in the ground. That’s the only fair way to approach things.
*It may not even be good business, but so long as the government isn’t intervening to give Greenpeace a sweetheart deal, this potential transaction appears to be a good thing.