Antinuclear

These nominal champions of the free market were quick to tell the university what it should do with its money. The Treasurer, Joe Hockey, disparaged the ANU’s decision as being “removed from reality”. Others chimed in, calling it “a disgrace”, “very strange”, and “narrow-minded and irresponsible”. Never mind that the sums involved were relatively small — making up less than two per cent of the university’s estimated $1 billion portfolio.

As the drive to divest from fossil fuels picks up speed, such panicky responses are becoming increasingly common. ………….

The ANU’s decision looks like a sage one to anyone not in thrall to oil and gas companies, and it will only look wiser with the passing of time. Good on them. When I put Seattle on the path to divestment in 2013, my decision was well received by the young people who will have to live with the consequences of global warming, as well as the general public. As the political pressure mounts, the university’s administrators need only listen to the students.

We need more courage like that shown by the ANU. Its leaders bucked the power of coal and oil interests, which wield enormous power in Australia. If they can do it to popular acclaim, others can, too.

Mike McGinn is a former mayor of Seattle, the first city to commit to divestment from fossil fuels. http://www.abc.net.au/environment/articles/2014/12/18/4150560.htm