[benj111]

By choosing the ethical investment you are in a sense becoming an active investor betting against none ethical investments.

Trying to reason about whether the stock market is a good battleground. If you know I wouldn't want to buy your investment, surely that lowers how much you'd value it, as does the potential for having to pay a premium on bonds. As a CEO your share based compensation starts to look less attractive as does the whole idea of presiding over a company potentially on the wrong did of history. So I wouldn't say its a pointless battle.

Lets take Uber, on one level its worth billions, but it makes no money, if everyone avoided the stock and debt it would run into problems pretty quickly. It is worth billions only because sufficient people believe it is/ will be worth that much, if enough people avoid it, it isn't going to be worth that.