Macdonald, G. (2023, January 15). When conservation and capitalism meet: A visit to New Mexico’s Ted Turner Reserves. The Globe and Mail. Retrieved January 29, 2023, from https://www.theglobeandmail.com/life/travel/article-ted-turner-reserves/
Can capitalism, an economic notion causing much damage to the environment, be used for good? American billionaire Ted Turner and founder of CNN has been using his fortune to help protect endangered species, alleviate climate change’s effects on the US, and has recently opened four ranches in New Mexico open for ecotourism. Turner’s ranches are mixing luxury and sustainability, which is attracting a new, usually very consumerist, clientele. His philosophy is to “save everything”, and these new investments seem to reflect that pretty well as he aims for his ranches to be environmentally friendly and zero-waste.
It is reassuring to see mega-billionaires put some effort into environmental causes and use their money for good, which is usually unheard of. Turner’s ranches not only support the local economy but also bring New Mexico more eco-tourism opportunities. These luxury ranches are obviously inaccessible to an everyday vacationer, but it hopefully encourages his fellow magnates to follow suit and expand the ecotourism industry, although it often is for purely capitalistic motives.
I agree with you that it is nice to see a mega-billionaire caring for the environment in some way, but others need to step up to. I think if Turner is doing it for capitalistic motives, that would be a great thing, because it would mean that others would start to join in the movement too? What do you think stops billionaires from using their money towards environmental friendly investments?
Thank you for your response! I think this could be a good way for those looking to expand their wealth to do so while having a positive impact on the environment, I’m sure it would interest a few more very rich people. I also feel like billionaires without an interest in philanthropy, whether environmental or not, may just be greedy. Some people with money use it for great good while others refuse to even raise the wages of their employees, it’s also a question of character.