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Page added on June 20, 2018
How $6 Trillion of Fossil Fuel Investments Got Dumped Thanks to Green Campaigners
It has become one of the fastest growing political campaigns in human history, surpassing similar battles against the tobacco industry and the fight against apartheid in South Africa. Its logic is simple: the only way to avoid climate change and dangerous levels of greenhouse gases in the atmosphere is for most fossil fuel reserves to stay in the ground.
Campaigners launched the fossil fuel divestment campaign in the early 2010s. Their argument was that you curb consumption of fossil fuels if you stop investing in the companies involved in extracting and burning them. Create a significant enough stigma, they argued, and this issue will shoot up the political agenda.
In the past five years or so, investment funds, public institutions and individuals have duly divested around US$6.15 trillion (£4.6 trillion) of fossil fuel assets. It has helped that the campaign attracted a number of prestigious institutions early on, including the British Medical Association, University College London, University of California, the Church of England and the World Council of Churches (representing more than a half billion Christians globally).
The campaign gained further traction after a London-based think tank argued that fossil fuels were in any case a bad investment because the true costs of environmental damage had not been priced in and that at some point there would be a severe correction.
The battle is far from over, however, as demonstrated by the recent decision of the Church of Scotland not to divest. One of the cornerstones of European faith, whose teachings have helped shape everyone from Robert Burns to Rupert Murdoch, its annual general assembly held an impassioned two-hour debate on whether to remove oil and gas stocks from its £443m investment fund.
The high road
The Church of Scotland has form in this regard: it had already divested its coal and tar sands investments two years earlier. Ahead of the latest debate, its official general assembly report summarised the issue as follows:
It is deeply uncomfortable for the Church, as a caring organisation concerned about climate justice, to continue to invest in something which causes the very harm it seeks to alleviate.
While we have profited from oil and gas exploration in the past, we now understand that financing the future exploration and production will take us away from fulfilling the Paris Agreement and delay the transition to a low carbon economy.
Church of Scotland general assembly. Rowan Gard
Yet the approximately 1,000 commissioners attending the General Assembly Hall on the city’s Mound, next to Edinburgh Castle, narrowly disagreed: 47% in favour and 53% against. Coming from a nation which already gets most of its electricity from renewable sources, and whose government has indicated the end is in sight for fossil fuel vehicles on the roads, it was undeniably a disappointment.
Representatives were persuaded that it was better to stay invested and seek to influence better behaviour than to pull out altogether. Reverend Jenny Adams, who had brought the motion in the first place, argued that all the evidence suggests oil and gas companies have little intention of changing quickly enough to satisfy the Paris agreement. She said:
There is a need for climate emissions to peak by 2020 and if we just keep talking, too much time passes and change is not coming fast enough.
She is surely right about this. There may be traditional wisdom in engaging with fellow shareholders and board members on matters pertaining to large companies, but the church’s decision looks naïve in relation to this sector.
To give just one example, consider that approximately 94% of shareholders of the oil giant Royal Dutch Shell voted last year and again this year to reject emission targets that would comply with the Paris climate accord, as it was deemed “not in the best interest of the company”. How do you persuade a bloc like that to change its mind?
Amen corner
While the Church of Scotland’s decision to sidestep divestment may have been a setback to the movement, there have been recent successes, too. The Church of Ireland committed to divest its fossil fuel assets earlier in May, while an international coalition of Catholic institutions, including the Scottish Catholic International Aid Fund, pledged in April to divest investments totalling £6.6 billion.
The movement speaks. Rowan Gard
Municipal administrations including New York and Paris are also divesting from fossil fuels and shifting their investments towards renewable energy sources – evidence that the global divestment is making an impact on public policy.
This certainly seems prudent, as newly published research suggests that the “carbon bubble” could “burst” in the next two decades as demand for fossil fuel energy falls despite population increases and burgeoning global economic growth.
The study projects that the global fossil energy demand will drop by as much as 40% by 2050. If that comes to fruition, it would mean containing global warming levels to 1.5 °C, which is the aspirational goal of the Paris climate accord.
That would be great news for environmentalists, most especially for those living on the front lines of climate change such as in the Pacific, less so for investors in fossil fuel businesses – Presbyterian or otherwise. It’s a strong signal that this global divestment movement may still be a long way from its peak.
173 Comments on "How $6 Trillion of Fossil Fuel Investments Got Dumped Thanks to Green Campaigners"
Davy on Thu, 21st Jun 2018 3:28 pm
Greggie, stop obsessively pricking all day long. You really need to see a shrink. There is nothing healthy about what you are doing.
Anonymouse1 on Thu, 21st Jun 2018 3:36 pm
He cant imagine people sleeping because he doesn’t sleep himself. Crazy individuals don’t seem to require sleep, at least not in the way humans do.
GregT on Thu, 21st Jun 2018 3:37 pm
You have a multitude of options Davy, that others do not.
Sell grandpa’s farm and buy yourself a nice plantation somewhere safe, like Costa Rica, or New Zealand. If/when things really fall apart, people will always work for food.
Davy on Thu, 21st Jun 2018 3:46 pm
Greggie, your the one that needs some options because you are “slip slidin” (thanks 3rd world) into serious personality disorders.
GregT on Thu, 21st Jun 2018 3:52 pm
If I had access to anywhere near the wealth that you do Davy, I would have moved off of this continent a very long time ago.
Davy on Thu, 21st Jun 2018 4:13 pm
sure grehggie you would because all you care about is the money. Your whole conversation today has been an obsession with money. On and On about money today crowding out other good conversation. Rich people are like that. They always want to be better than someone else. I suggest you do something with your life grehggie. Retirement has screw with your mind. You have wasted plenty of my time today but that is OK. I will just work a little longer tonight. You like the first and last word when you prick but I will make an effort to deny you that.
MASTERMIND on Thu, 21st Jun 2018 4:55 pm
Italy’s deputy PM Salvini called for ‘mass cleansing, street by street, quarter by quarter’, newly resurfaced footage reveals
https://www.independent.co.uk/news/world/europe/italy-matteo-salvini-video-immigration-mass-cleansing-roma-travellers-far-right-league-party-a8409506.html
Simon on Thu, 21st Jun 2018 4:56 pm
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MASTERMIND on Thu, 21st Jun 2018 5:01 pm
Jesus, the language they are using is straight out of Nazi Germany. “Cleansing,”
Simon on Thu, 21st Jun 2018 5:04 pm
Is there even a tiny chance we could stay on topic (or close) for shits and grins
MASTERMIND on Thu, 21st Jun 2018 5:09 pm
Well, he just gave trump some ideas…. smh. I don’t want to live on this planet anymore.
Makati1 on Thu, 21st Jun 2018 5:13 pm
Delusional Davy is stalking all the intelligent people here. Trying to find out where they live, details of their lives, etc. and is so stupid that he cannot even understand time zones. Yep! He will go postal soon.
BTW Davy, the time here in the Ps is 13 hours ahead of your time. It is Friday morning here. Another beautiful summer day.
http://www.islandsproperties.com/maps/img-maps/quezon.gif
Here is a map for you to throw darts at. It might make it easier for you to decide where I live. But, keep in mind that all of the towns are not on here. AND, it depends on which way you go from Manila as to where ~100 miles may take you. LOL
Makati1 on Thu, 21st Jun 2018 5:24 pm
Simon, the “topic” would be exhausted in less than 10 comments. It is just more fluff distraction for the serfs. Projecting a 2050s future is nothing but vapors and guesses. The “news” is full of that bullshit. Meaningless in a world where even tomorrow’s weather cannot be accurately predicted everywhere and a stock market crash could change everything.
MASTERMIND on Thu, 21st Jun 2018 5:34 pm
Madkat
I wouldn’t put out your address..According to greg this site is under surveillance by the “deep state”..They might send some black helicopters after you!
JuanP on Thu, 21st Jun 2018 5:35 pm
Delusional Davy “Greggie Juan (bony Juan) one liners show just how intellectually empty and stupid you are. You both are friends because you both exhibit the same personality disorders. You are both playboy snobs. Run along and go play on the beach.”
Need I say more? I think Davy’s insanity is pretty self explanatory! LOL!
GregT on Thu, 21st Jun 2018 5:42 pm
“sure grehggie you would because all you care about is the money.”
If all I cared out was money Davy, I wouldn’t have quit my 32 year long career and moved out into the bush.
Makati1 on Thu, 21st Jun 2018 5:42 pm
MM, the “Deep State” knows exactly where I live. The IRS and SS require annual reporting. That is part of being a citizen of the Us Police State. You can only get away by giving up your citizenship. You are taxed and followed everywhere in the world.
But I am safe here. Not worth the expense or effort for the Us government to do anything. There are at least 10,000 Americans retired here and many more married to Filipinos, teaching or working for Us corporations/government here.
MASTERMIND on Thu, 21st Jun 2018 6:22 pm
Italy’s deputy PM Salvini called for ‘mass cleansing, street by street, quarter by quarter’, newly resurfaced footage reveals
https://www.independent.co.uk/news/world/europe/italy-matteo-salvini-video-immigration-mass-cleansing-roma-travellers-far-right-league-party-a8409506.html
Jesus, the language they are using is straight out of Nazi Germany. “Cleansing,”
This is where conspiracy thinking takes you Greg..If there is another holocaust it will be enablers like you who did it..
Anonymouse1 on Thu, 21st Jun 2018 6:53 pm
For the last time, I hope, the exceptionalturd is not ‘wealthy’, he is not ‘from wealth’. There is no fortune, or private jets, or trips the Bahama’s 4 times a year, private retreats, or anything of the sort. The only prviate retreat the expcptionalurd possies, is his outhouse, which, likely still does not have a door hung on it yet, or even a proper sized hole cut into it, but whatever.
The eturd, may have implied he was a self-styled member of the privelaged class at various points along the way, and then just let everyone’s imaginations fill in the blanks. The problem is, the blanks are just that, blank. The eturds options are no better, and likely worse than anyone else’s since he lives in an impoverished state, isolated and quite delusional as wel all know.
If the turd had any access to ‘wealth’, this would imply he has a family (that cares) at least enough to provide him with some of that expensive, high-end mental health services the uS possess for its sociopathic upper, ok, and lower classes as well. That fact that nothing like this has, or will ever occur, is but one more indication, that all this talk about the exceptionalturds supposed ‘wealth’, is just so much hot air. All it does is inflate his massive ego, and feed his delusions, which are, needless to say, quite advanced at this point.
Ask yourself, if he so ‘rich’, why have his relatives not shipped him off to Jew York city, or some similar location, for an extended chat with some nice doctors? Such a thing would be trivial to arrange, IF he was from money (which he is most definitely not).
Makati1 on Thu, 21st Jun 2018 7:04 pm
I agree with you, Anon. He certainly would not be on here stalking and trying to prove he knows it all. He wold be in New Zealand or somewhere other than the ‘always 3rd world’ Ozarks.
Anonymouse1 on Thu, 21st Jun 2018 7:16 pm
Exactly. Treating him as if he is some of sort uber-wealthy turd, is not at all helpful. He cannot even afford a proper monitor or computer. I understand he, for reasons that elude, grinds out his rambling, boring, and vitriol-laden diatribes on a cell phone of all things. Best to not feed his insanity buy treating him like a wealthy amerikan a-hole(I guess I just could have just shortened that to, amerikan ahole right?), as he sounds as if he is ready to blow his lid any time now.
GregT on Thu, 21st Jun 2018 7:39 pm
“This is where conspiracy thinking takes you Greg..If there is another holocaust it will be enablers like you who did it..”
Ummm actually MM:
“During the same interview, the 45-year-old suggested Italy could adopt policies on immigration similar to those of Donald Trump in the US. “
GregT on Thu, 21st Jun 2018 7:43 pm
I know MM,
It’s that little reading comprehension problem rearing it’s ugly head again…..
https://www.independent.co.uk/news/world/europe/italy-matteo-salvini-video-immigration-mass-cleansing-roma-travellers-far-right-league-party-a8409506.html
GregT on Thu, 21st Jun 2018 7:48 pm
Try not to feel too dumb MM, apparently it’s not entirely all your fault.
https://www.detroitjournalism.org/2018/03/09/detroit-school-district-using-curriculum-thats-injustice-children-detroit-not-alone/
Makati1 on Thu, 21st Jun 2018 7:59 pm
Maybe MM’s mental problems can be blamed on lead in his water?
“More than two years after federal researchers found high levels of lead in homes where water mains had been replaced or new meters installed, city officials still do little to caution Chicagoans about potential health risks posed by work that Mayor Rahm Emanuel is speeding up across the city.
In a peer-reviewed study, researchers at the U.S. Environmental Protection Agency found alarming levels of the brain-damaging metal can flow out of household faucets for years after construction work disrupts service lines that connect buildings to the city’s water system. Nearly 80 percent of the properties in Chicago are hooked up to service lines made of lead.” (2016)
http://www.chicagotribune.com/news/watchdog/ct-chicago-lead-water-risk-met-20160207-story.html
“Toxic lead has been seeping into Chicago’s drinking water, and the city is dragging its feet to fix the problem, according to an analysis published Thursday by the Chicago Tribune.
Lead was found in 70 percent of the 2,797 homes the Tribune sampled across the city since January of 2016. And three in 10 of those had lead concentrations higher than 5 parts per billion (ppb), the Food and Drug Administration’s upper limit for lead in bottled water.” (2018)
https://news.vice.com/en_us/article/ne9kwx/lead-found-in-70-percent-of-chicago-homes-chicago-tribune-reports
”
By Alex Nitkin | June 20, 2016 6:16am | Updated on June 20, 2016 9:57am
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CPS is testing all its schools for lead in the water. So far, a number of schools have had levels above federal limits.
CPS is testing all its schools for lead in the water. So far, a number of schools have had levels above federal limits.
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CHICAGO — As of Sunday, faucets at 26 Chicago Public Schools were found to have “dangerous” levels of lead in them, according to CPS officials.” (2016)
https://www.dnainfo.com/chicago/20160620/downtown/do-chicago-schools-have-lead-problem-heres-what-you-need-know/
Slip slidin’…
Makati1 on Thu, 21st Jun 2018 8:00 pm
OOps! Extra invisible junk I didn’t see before posting.
MASTERMIND on Thu, 21st Jun 2018 8:05 pm
Madkat
DNA info ? That is a site that talks about aliens..You are a silly buffoon..A total moron..with a harden heart..
Greg, Just ignore the Nazi language and cherry pick the article to take it out of context..just like the studies I post.You should go work for the media you are a master at spin..
LMFAO!
MASTERMIND on Thu, 21st Jun 2018 8:07 pm
Madkat
I don’t live in Chicago..My father does..I live in Michigan..I have never claimed ever to live in Chicago..You are easily confused..typical for someone of your old age and declining IQ..
GregT on Thu, 21st Jun 2018 8:09 pm
Sorry Mak, my bad. I could have sworn MM was from Detroit, but apparently Chicago illiteracy is even worse. Who ever would have believed that was possible?
http://www.chicagotribune.com/news/local/politics/ct-bruce-rauner-cps-teachers-met-0722-20160721-story.html
Makati1 on Thu, 21st Jun 2018 8:15 pm
MM, Same difference. Where did you grow up? Chicago? If you drank commercial water, you drank lead. All old town and cities in the Us used lead pipes for at least 100 years. They are still there.
Makati1 on Thu, 21st Jun 2018 8:16 pm
MM: DNA? Where did I mention that here? Which site? I reference many.
GregT on Thu, 21st Jun 2018 8:18 pm
“Greg, Just ignore the Nazi language and cherry pick the article to take it out of context..just like the studies I post.”
MM,
Just ignore the entire sentence; ““During the same interview, the 45-year-old suggested Italy could adopt policies on immigration similar to those of Donald Trump in the US. “, and focus on that one word in the sensationalist MSM headline that triggers your emotional response: “cleansing”. Which of course, as everybody knows, is Nazi language. I know, I think about those evil Nazis every time I take a shower too.
Makati1 on Thu, 21st Jun 2018 8:20 pm
“Elevated lead or copper levels have been reported in the water at 19 Detroit Public Schools, district officials said Wednesday, nearly a third of those tested.”
https://www.detroitnews.com/story/news/local/detroit-city/2016/04/13/elevated-lead-levels-found-detroit-schools-water/83013420/
Chicago, Detroit, Flint, etc. All have contaminated water. Old water systems never replaced. Dumbing down America is easy. You start with lead and fluoride and add “teach to the test”. LOL
Makati1 on Thu, 21st Jun 2018 8:22 pm
BTW: MM, if you lived in an old house, odds are the pipes were/are lead and even the paint on the walls.
MASTERMIND on Thu, 21st Jun 2018 8:25 pm
Greg
I know talk down the Nazi rhetoric because you likely don’t even believe the Holocaust even happened..Sine you are an uneducated moron who is easily duped..I can’t wait till the oil runs out and someone puts a bullet in you head..
GregT on Thu, 21st Jun 2018 8:26 pm
“I don’t live in Chicago..My father does.”
Maybe the dysfunctional education system isn’t all to blame then.
Researchers investigating how lead exposure could affect DNA
http://michiganradio.org/post/researchers-investigating-how-lead-exposure-could-affect-dna
MASTERMIND on Thu, 21st Jun 2018 8:28 pm
Madkat
I don’t live in Detroit either..I live in West Michigan..I am two hours away from Detroit..I am actually closer to Chicago..This is you and Gregs problem..You both jump to conclusions and believe things without any proof..You just us make believe for everything..You two are like little children..And you are about to get monkey hammered in a few years..You both better stack up on your adult diapers..Cause when society breaks down, you will shit your old crusty undies..That no woman wants to touch anymore..
LMFAO!
GregT on Thu, 21st Jun 2018 8:30 pm
“I know talk down the Nazi rhetoric because you likely don’t even believe the Holocaust even happened”
I’m on record here as being completely against the ‘Nazi rhetoric’. I do not for one second support what the US State department did in Ukraine.
https://www.sott.net/image/s18/375080/large/mccain_tyagnibok_ukraine_nazi.jpg
MASTERMIND on Thu, 21st Jun 2018 8:31 pm
Greg
You and Madkat inhaled lead in your gasoline for several decades..And the human IQ peaks around age 20 and goes into permanent decline..So you both are well past peak age..And it shows..
MASTERMIND on Thu, 21st Jun 2018 8:32 pm
Greg
Sot.net..That is the biggest conspiracy loon sit..I am done..I want to leave this planet (Shoots himself)..
That is enough for me tonight fellows..Have a good night..Tell the Aliens I said hi..And Hail Hitler Greg..
Makati1 on Thu, 21st Jun 2018 8:36 pm
MM, then stop lying. You claimed to live in Chicago many times previously. Now you claim to live elsewhere. The lead idea still applies. You father and mother were exposed to tons of it in their lives. Especially if they jived in a city or old house. It certainly affected your DNA. And, you too are consuming lead f you do not know where your drinking water comes from or how it is piped to your basemen.
Lead was in water, paint, and gasoline for many decades. I always lived in the countryside with a well and modern copper or galvanized piping. And no lead paint. (It was mostly in white paint, not colors. My mom didn’t like white. Thank goodness! )
Makati1 on Thu, 21st Jun 2018 8:36 pm
MM, you have no idea what you are talking about. LOL
GregT on Thu, 21st Jun 2018 8:39 pm
“I am two hours away from Detroit..I am actually closer to Chicago..This is you and Gregs problem.”
Nope. Apparently that would be your problem MM. Our water here is amongst the best in the world. If not the best. Sorry dude.
Makati1 on Thu, 21st Jun 2018 8:41 pm
Ditto here in the Ps where I live. The cities are too new to have old lead piping. And where I currently reside, it is from deep wells and a 10 year old system. On the farm it will be filtered rain water straight from the Pacific.
Makati1 on Thu, 21st Jun 2018 8:42 pm
Interesting that when Mm is losing his position, he signs off at 8:30 PM. LOL
MASTERMIND on Thu, 21st Jun 2018 9:04 pm
Greg and Madkat
I live fifteen minutes away from Lake Michigan one of the largest bodies of fresh water in the world..And like I said before the human IQ peaks around the age of 20 and goes into permanent decline..Chimps IQ’s though never peak and stay the same all of their lives..You two are well past peak, you both went down the Hubbert bell curve a long, long time ago..
LMFAO!
GregT on Thu, 21st Jun 2018 9:19 pm
Lake Michigan has been horribly polluted since at least the 60’s MM, and you have not displayed even the slightest hint of having a higher IQ than anybody else here, as a matter of fact just the opposite. I Have you pegged as being tied for second bottom place.
Anonymouse1 on Thu, 21st Jun 2018 9:20 pm
I see the exceptionalturd is letting his alter (inflated) ego, ‘mushmind’ to speak, or ramble for him today. Maybe the eturd felt the need to give his dominant personality(such as it is), a break.
Is this what the eturd meant by having ‘mushmind’ help ‘davyturd’ out.
Btw, you don’t live in ‘Michigan’ dumbass, you live in Missishiti.
GregT on Thu, 21st Jun 2018 9:22 pm
Oh and MM,
Your obviously deficit in the IQ department is not something to laugh about. It’s very sad to see.
NLMFAO!
GregT on Thu, 21st Jun 2018 9:23 pm
Obvious deficit, I’m sure you understand what I meant.