As I have spent some sleepless nights since the latest IPCC report on how Mankind has to halve its carbon emissions by 2030. For both the European Union and the United States of America, the first step in doing so is killing King Coal. As we shall see, this is already currently happening, it is the moral … Read more
Here is further proof it’s high time to divest to avoid the carbon bubble. The Daily Telegraph published this week a most interesting article on how fossil fuels – oil, coal and natural gas – are the next subprime danger of this cycle as
“ The cumulative blitz on energy exploration and production over the past six years has been $5.4 trillion, yet little has come of it. ” There are may reasons for such pessimism on these investment. the author notes among them a few :
Expensive exploration and production with little return ; potential limits to CO2 levels to 450 particles per million ; the increased competitiveness of renewables such as solar and wind…
According to the New York Times and Reuters, more than a dozen large foundations representing more than $2 billion (around 1.48 billion euros) in assets will stop investing in fossil fuels, just as the World Bank and the United Nations advise.
To Reuters : ” The Divest-Invest Philanthropy coalition includes foundations, such as the Park Foundation, the John Merck Fund and the Schmidt Family Foundation – co-founded by Google Inc Executive Chairman Eric Schmidt – in the United States “
These foundations believe that the carbon bubble presents both financial and ethical risks and urge others to follow their lead in divesting from unburnable carbon.
If you are scared – or even simply concerned – by climate change, odds are that you might have weatherized your place, turned to efficient appliances and lightbulbs and perhaps even ditched your car.
While these actions and many others are quite obvious, they might not have the biggest impacts. Kelly Rigg, the Executive Director of the Global Call for Climate Action published a very interesting article on how you could do much much more.
To her, crowdfunding renewables, buying climate bonds (!), divesting from fossil fuels in your pension and mutual funds, voting with your wallet and joining a climate campaign are the next steps.