My goal: I would like to avoid investing and banking with institutions supporting new fossil fuel infrastructure[†]. Is TD Ameritrade such an institution? (I'm hoping that, as a brokerage firm, it is not.)
[EDIT: The answer of @mikem below provides the most direct account of how most brokerages - including TD Ameritrade - DO help fund new fossil fuel infrastructure.]
I know: TD Bank, which lent $360M for the Dakota Access Pipeline, previously owned more of TD Ameritrade; but since Charles Schwab's acquisition of TD Ameritrade in October, TD Bank has only minority ownership.
I don't know:
- how TD Ameritrade's profit relates to TD Bank's behaviors (e.g., by expanding its lending power?).
- whether TD Ameritrade supports new fossil fuel infrastructure in some other way (e.g., is servicing purchase of Energy Transfer Partners stock not indirectly supporting new fossil fuel infrastructure?).
[†] Note: I’m aware that fossil fuels are heavily implicated in everything from corn flakes to the internet. But when I ask whether TD Ameritrade directly or indirectly supports new fossil fuel infrastructure, I mean to ask whether they 1. fund it (like TD Bank and Wells Fargo do, for instance) or 2. contribute profit to companies that use that profit in turn to fund it (does TD Ameritrade do that?).
Of course I do not mean to ask whether there is a company whose employees swear an oath against eating corn flakes, which “could” increase demand for fossil fuel and thus contribute to demand for new pipelines. 87% of humans on earth use electricity. I don’t mean to count us all as indirect supports for new fossil fuel infrastructure. So let’s imagine no new infrastructure, and that we'll then figure out how to allocate the supply available from hydro, wind, solar, AND whatever fossil fuel infrastructure is in operation until it’s phased out.