350.Org Says: Stop Investing in the Fossil Fuel Industry

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I’m fascinated by the dynamics at work in our society that surround climate change. The United States is notably sluggish in its response to the challenge, and, perhaps because of this, certain groups with progressive ideals are getting fairly militant. One example is the Sierra Club, which, after 120 years of law-abiding environmental advocacy, announced recently that it will espouse civil disobedience as a weapon to create a progressive change in national energy policy.

Another group that’s shown itself more than willing to take an aggressive tack here is Bill McKibben’s 350.org, which , according to this piece by environmental writer Marc Gunther:

….have launched a national campaign to persuade colleges, universities, churches, foundations and, yes, people like you and me, to stop investing in the fossil fuel industry. The campaign raises interesting questions as, I’m sure, McKibben hoped it would. Among them: Does divestment make sense as a strategy to curb climate change?

At the risk of sounding cavalier, it’s hard to imagine how such a strategy could possibly be ineffective. Lower demand for shares of stock will reduce total market capitalization, and therefore diminish horsepower in terms of all the factors that make the industry what it is: legal strength, political muscle, and good will in terms of public relations. I’m interested to see what happens when the common American sees through the oil companies’ PR and rejects the idea that fossil fuels are clean, safe, abundant, and form the heart of our modern lifestyle.

About Author

Walter’s contributions to CleanTechies over the past 4 years have been instrumental in growing the publications social media channels via his ongoing editorial and data driven strategies. He is the founder and managing director of Sunflower Tax, a renewable energy tax and finance consultancy based in San Diego, California. Active in the San Diego clean technology community, participating in events sponsored by CleanTech San Diego, EcoTopics, and Cleantech Open San Diego, Walter has also been a presenter at numerous California Center for Sustainability (CCSE) programs. He currently serves as an adjunct professor at the University of San Diego School of Law where he teaches a course on energy taxation and policy.

1 Comment

  1. I believe every country should take oath not to spend even a penny on fossil fuels and in turn spend a considerable amount of money on renewable energy projects. Renewable energy is the future and climate change can only be stopped if clean projects are undertaken.

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