Investing with your grandchildren in mind
Carbon divestment is a shining example
Discarding the shares of firms that do not curb emissions shows the way forward for climate change campaigners
Mary Robinson, The Guardian, Monday 17 February 2014
The recent extreme flooding in the UK and Ireland has highlighted the devastating effect our changing climate can have; but if we do not take action fast, future generations will experience weather shocks on a far greater scale. Our planet is warming to a catastrophic extent, and the human race must step up.
The divestment campaign – which originated in the United States and is now making its way across the Atlantic – is one shining example of what is needed to curb greenhouse gas emissions. Transforming our economic system to one based on low-carbon production and consumption can create inclusive sustainable development and reduce inequality. To achieve a just transition to a low-carbon economy, it is crucial that we invest in social protection, enhance workers' skills for redeployment in a low-carbon economy, and promote access to sustainable development for all.
The premise of the divestment campaign is simple: non-profit organisations must move their investments away from fossil fuels, reducing the power and influence this industry has on society. Initially focusing on universities – in the UK alone, their endowment funds have invested £5bn in coal, oil and gas – the campaign's message has since had an influence on other organisations, such as the Church of England, which this month said it would pull its investment in companies that didn't do enough to fight climate change.
(Continued here.)
Discarding the shares of firms that do not curb emissions shows the way forward for climate change campaigners
Mary Robinson, The Guardian, Monday 17 February 2014
The recent extreme flooding in the UK and Ireland has highlighted the devastating effect our changing climate can have; but if we do not take action fast, future generations will experience weather shocks on a far greater scale. Our planet is warming to a catastrophic extent, and the human race must step up.
The divestment campaign – which originated in the United States and is now making its way across the Atlantic – is one shining example of what is needed to curb greenhouse gas emissions. Transforming our economic system to one based on low-carbon production and consumption can create inclusive sustainable development and reduce inequality. To achieve a just transition to a low-carbon economy, it is crucial that we invest in social protection, enhance workers' skills for redeployment in a low-carbon economy, and promote access to sustainable development for all.
The premise of the divestment campaign is simple: non-profit organisations must move their investments away from fossil fuels, reducing the power and influence this industry has on society. Initially focusing on universities – in the UK alone, their endowment funds have invested £5bn in coal, oil and gas – the campaign's message has since had an influence on other organisations, such as the Church of England, which this month said it would pull its investment in companies that didn't do enough to fight climate change.
(Continued here.)
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