Keep it in the ground

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Last November the International Panel on Climate Change, the IPCC, published its calculations that globally we must keep 62% of our fossil fuels in the ground if we are to have any chance of keeping climate change to 2 degrees.

It’s clear that fossil fuel companies, which prioritise their profits, are bad for our Earth’s future but they are becoming bad news for their investors’ pockets too. If countries are bound to meet their carbon budgets, many of the companies’ assets will become unusable.

Alan Rusbridger of the Guardian retired at the end of June after giving his last six months to a passionate campaign on climate change, focussing particularly on the need to divest from fossil fuel companies on both ethical and financial grounds. People across the country have been calling on their pension funds and on high profile philanthropic trusts, such as The Gates Foundation and The Welcome Trust, to divest. Lots more needs to be done but it has been an exciting campaign which has provided a lot of information. It’s worth looking at one of the introductory Guardian articles: http://www.theguardian.com/environment/2015/mar/09/10-myths-about-fossil-fuel-divestment-put-to-the-sword

 

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