At Retirement, Billionaire Hedge-Bro Discovers Climate Collapse, But Hey, He Launched 2 Green Funds

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The economy isn’t the only concern billionaire Ray Dalio has on his mind lately. Like many others, he’s also anxious about climate change. “It worries me. It’s almost like I worry for man,” Dalio tells CNBC Make It. Dalio, 72, stepped down as co-CEO of hedge fund Bridgewater Associates in 2017. Since then, the billionaire’s ventures have largely refocused on sharing knowledge with younger generations, ranging from people management software company Principles to OceanX, a New York City-based ocean research and exploration nonprofit that Dalio co-founded with his son Mark in 2018.

Ed. - 2018! Gosh, how timely!

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Before the industrial era, the researchers wrote last year, the ocean actually released CO2 into the atmosphere. But now, the added carbon can alter the chemistry of seawater, a process known as ocean acidification — decreasing the water’s pH level and causing some organisms’ shells and skeletons to dissolve, significantly altering the ocean’s food chain.

That’s just one climate change consequence of many, Dalio says, referencing the world’s recent uptick in forest fires and severe storms. Climate change is “one of those things that is kind of creeping up on us slowly,” he says, suggesting that the repercussions will become even more catastrophic down the road.

Ed. - Yes, if 2021 has shown us anything so far, it's just how slowly things are creeping up on us!

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Dalio says corporations and individuals alike can use their money to positively influence the fight by doing more environmental, social and governance — or ESG — investing. Last year, Dalio’s Bridgewater started advising clients on environmentally conscious investing and announced plans to open two sustainable funds in 2021. “Fortunately, I think it’s becoming bad or uncool or nasty to be doing harm to the environment, and it’s becoming cool and appropriate or polite to do things like ESG investing,” Dalio says.

Ed. - 2021! Gosh, how timely!

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https://www.cnbc.com/2021/09/30/billionaire-ray-dalio-on-why-climate-change-worries-him.html