EA to purchase 5% of Blackrock and 5% of Vanguard shares. To be clear, I don’t mean 5% of their index funds, but rather 5% of the underlying fund management companies.
EA’s investment of circa $10 billion can be leveraged into a board seat on companies that manage circa $20 trillion in assets. EA could lobby these companies to apply a corporate ethics tests on all their index funds. E.g. excluding coal and promoting other EA priorities.
Thanks for this suggesting, I’m really interested in this general direction, in case anybody wants to dig into it a bit more. It spontaneously seems unlikely to me that investing this large share of EA money is the best bet, but I wonder if there are other ways to influence them (e.g. as I understand Blackrock and Vanguard senior managers simply got convinced that climate change is a downside for their longterm profit, and they probably should believe the same for misaligned AI / AI races). Maybe another route would be to ensure that those investment firms will be able to influence & coordinate the behavior of tech firms to reduce competitive dynamics.
Promote Ethical Corporate Behavior
EA to purchase 5% of Blackrock and 5% of Vanguard shares. To be clear, I don’t mean 5% of their index funds, but rather 5% of the underlying fund management companies.
EA’s investment of circa $10 billion can be leveraged into a board seat on companies that manage circa $20 trillion in assets. EA could lobby these companies to apply a corporate ethics tests on all their index funds. E.g. excluding coal and promoting other EA priorities.
Thanks for this suggesting, I’m really interested in this general direction, in case anybody wants to dig into it a bit more. It spontaneously seems unlikely to me that investing this large share of EA money is the best bet, but I wonder if there are other ways to influence them (e.g. as I understand Blackrock and Vanguard senior managers simply got convinced that climate change is a downside for their longterm profit, and they probably should believe the same for misaligned AI / AI races). Maybe another route would be to ensure that those investment firms will be able to influence & coordinate the behavior of tech firms to reduce competitive dynamics.