Antinuclear

Australian news, and some related international items

Investors are Fleeing Fossil Fuels in Droves

robertscribbler

When Bill McKibben and 350.org spear-headed a campaign to divest from fossil fuels and go 100 percent renewables as part of a multi-pronged strategy to confront ramping harms from global climate change in 2012, the big push-back was “divestment doesn’t work, it’s just feel-good, someone else will just buy the stocks when prices drop.”

The Green Mouse That Roared

As if where individuals, banks, investment firms and governments put their money doesn’t matter. As if monetary policy at all levels isn’t an enabler of energy and climate policy. As if the world were awash in an infinite flood of money. As if capital just magically grows on trees.

The detractors clearly didn’t get it. They’d already lost the argument. But the ultimate realization would take years to materialize.

The divestment movement wasn’t so much about the short-term, day to day, flux of money on the financial markets. It was…

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December 16, 2017 - Posted by | Uncategorized

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