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An 'Undeniable Success': Divestment From Fossil Fuels Passes $5 Trillion


#1

An 'Undeniable Success': Divestment From Fossil Fuels Passes $5 Trillion

Andrea Germanos, staff writer

Marking the divestment movement's "undeniable success," a new report shows that the value of commitments made by individuals and institutions across the globe to dump their fossil fuels assets now surpasses $5 trillion.

350.org co-founder Bill McKibben said the "news is mammoth."


#2

A glimmer of hope in dark times. The news is so depressing sometimes I wonder if we're making progress anywhere and then this. Awesome, keep it up.
Trump may stop government action on climate but it doesn't stop us from moving ahead as quickly as possible on divestment and investment to green energy sources.


#3

HOORAY! a glimmer of hope in an ever-darkening sky!


#4

Well, it's a start- now if we can get more public greener transportation ( instead of the constant use of cars) along with that giant infrastructure bill- that might work.


#5

While I won't deny the symbolic significance of notable institutions selling off their fossil fuel investments, it does nothing to keep the thing from being burnt. Someone else buys the sold stocks, probably at a lower cost when there are a lot of sellers in the market, hoping to make a profit later. The only real metric of progress in this front is reduction in fossil fuel usage. The shuffling around of oil company stocks has no bearing on that.

Peace.
ths.


#6

If people are divesting themselves of shares, who is buying the divested shares? China?

Would it not be more useful if all the divesting shareholders got together to pressure the boards of the assorted companies to get out of doing damage?


#8

I'm still waiting for someone to explain to me how divestment in any way impacts the oil industry. So you sold all of your oil company shares. That means that there was someone out there that wanted to buy them, and it probably wasn't the oil company. In fact unless the company is issuing new shares or buying back outstanding shares, the oil company doesn't even know that you sold your shares. The initial sale of the stock shares raised capital for the company's expansion. The company isn't involved at all in any subsequent resale of those shares.


#9

You're absolutely correct. The better path would be for these activists to buy as many shares as they can and organize themselves into a voting bloc. At annual shareholder meetings, they could use that combined weight to pressure companies to take specific actions. By selling their shares, they give up their voice at the table.


#10

Making it harder to get a driver's license can go a long way toward encouraging people to use other means of transportation. It can also make the roads safer, reduce the numbers of traffic accidents, lower insurance rates etc. by forcing people to be better drivers in order to earn a driver's license. Driving is a privilege not a right. As it is, there's a lot of economic demand for lots and lots of drivers. That's why it is so easy to get a driver's license. Even the police in my city don't follow traffic laws.


#11

You do realize that had you not been in a society so totally dependent on individual automobile transportation that you most certainly would not have settled into the situation you now find yourself? Now you're stuck in a situation that was forced upon you by the powers that be and those powers just got an election upgrade. Our cities, neighborhoods, and infrastructure did not have to be built the way they were. We, progressives, have long known that america has built itself into a bind and we've had the courage and honesty to admit to it. Can you imagine when gasoline sources really start to become depleted? Because they will eventually. Will your long distance jobs even matter then? This is serious. We have opportunity right now to do something about it but the bind gets tighter as time passes.


#12

Yes, raising the age to get a license, plus putting in modernized grids for trolleys. The transportation has to be AVAILABLE in order for people to use it, and in surburban areas it is not.


#13

City planners with an eye toward the automobile in the garage and none for anything else can be thanked for such developments. We've developed ourselves into a bind for sure. People aren't going to ride trolleys when they are having cars and their necessary infrastructure shoved down their throats as has been going on for the past many decades. Cars are big business and not putting in trolleys/trains cuts out the competition against cars. The automobile industry supporters who lobbied city planners and congress to develop infrastructure for automobiles knew that. Their lobbying was purposeful not for the betterment of society but rather for their economic self-interests. Now, conservatives have the gall to claim progressives are a bunch of fascists forcing their beliefs on others. No, the real fascists have been the automobile and petroleum industries and their political supporters.


#14

We can thank Ford motors and the citizens who were hungry for "independence." But we do not have to live that way anymore.


#15

Well, in the good old days of Mother Englande, people used to use bicycles regularly to get to work and my father did 28 miles a day just to get to college. 10 miles on a reasonable 1960s racing/touring bike is no more than 40 minutes without trying, including hills. OK , sitting in a car, preferably an SUV, in a traffic jam for 40 minutes just to do 10 miles (try Bangkok; that's 4 hours), when you could ride that distance in the same time, is clearly more sensible.

Most would be blessed with the strength to do 10 miles on a bicycle if they got off their backsides and started doing it. It would take maybe 3 weeks of pain to get fit enough to do it in 40 minutes, but think how healthy they would be.

And as a PS. One can buy nice little Chinese 2-stroke motors of 80cc to fit to a bicycle, and these will roll you along at around 15-20mph. Those sorts of motors were around in various form in the UK for many years, and were made in Mother Englande. And if one has to do that 60 miles and is not a Lance Armstrong on a bicycle, buy a 150cc motorcycle or scooter which uses less fuel, and takes up less space in your roads and garage. These days, they will travel as fast as any car. After all, most of Asia does it. Ah, if it rains you might get wet..........but a windscreen on the bike and waterproofs solve that problem.


#16

Harder to get a driver's license to encourage green renewable use?

Moved to Texas from nearby state. For new DL I needed:

  1. 2 forms of proof of address.
  2. Certified (notary public stamp) copy of my birth certificate.
  3. Social Security Card (not just number--card)
  4. DL from previous state (this did not count as a form of ID)
  5. Proof of insurance of vehicle
  6. Proof of state registration of vehicle. (which involves a 20 point "safety" checklist PLUS emissions test. Back in CO all registration was, was the emissions test)
  7. Pass new visual test.
  8. Pass new written test
  9. Pass new driving test.
  10. My own father (elderly, very) had to appear on 2 separate occasions to be a witness to my existence and address.
    *I am probably forgetting a couple things.

I am mature adult. Perfectly clean record. Definitely got the feeling my home state is xenophobic. I jumped through fewer hoops in buying real estate.

Also was asked whether I was going to register to vote. Never told why for a DL?

Texas is renowned for voter suppression. This year a law passed allowing a gun permit for voter ID, but not a college ID. DL is one way I do believe they suppress votes.

And any time I see a cop I go the other way.