April 30, 2005

Bypassing government

“Green groups have largely failed in efforts to lobby the Bush administration on oil drilling and other issues. So they are pressuring corporations directly, hoping to counter business activity that could harm the environment. […] Following pressure by ecological activists and shareholder groups, J.P. Morgan Chase & Co. will adopt sweeping guidelines that restrict its lending and underwriting practices for industrial projects that are likely to have an environmental impact.” (See J.P. Morgan Adopts 'Green' Lending Policies, found via Organic Matter.)

This is good news. Let environmentalists confront consumers and businesses face to face instead of lobbying government to do the job for them. Let consumers choose what to buy and who to buy from instead of having government decide for them. Let corporations meet the challenges by themselves instead of using government as a shield.

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