How I Made Chevron An Ethical Investment

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How I Made Chevron An Ethical Investment

Written by David Neubert

Photo:rooreynolds-, Creative Commons, Flickr

I own Chevron (CVX - $100.81) and have made a pretty penny holding the shares. Owning oil companies has helped make up for my losses in financial shares this year. The other nice part about holding Chevron shares is that I can do things like appoint Amazon Watch as my proxy this year to represent me at the meeting.
Photo By David Neubert via Flickr.com

Other bloggers have criticized me for holding Chevron. They say that ethical investing and hold on oil company are inconsistent. I express my ethics through the power that being a shareholder gives me. So yes, thank you Amazon Watch for representing me with your votes. And yes, I've asked them to vote to keep the current board. But also to express my concern about way Chevron can minimize damage to the environment.

In particular, by appointing Amazon Watch to represent me I am joining a long list high-profile shareholders who are asking ChevronTexaco to make itself accountable for environmental damage in the Amazon of Ecuador.

Disclosure: I own Chevron. I will likely continue to own Chevron.