Divestment moves investors off climate sidelines
www.corporateknights.com| May 19th, 2015
Shortly before Nelson Mandela passed away I had a chance to ask F.W. de Klerk what impact the anti-apartheid divestment campaign had on his decision to end apartheid. He said it had no impact at all, and then went on for 15 minutes explaining all the ways it had no impact, which made me wonder.
In the past year a new kind of divestment campaign has caught fire, faster than any other divestment campaign in history, according to a recent Oxford Study. Investors representing over $1.5 trillion in assets under management, including the Rockefeller Brothers Fund, Norway’s giant oil fund and the Church of England (whose Archbishop is a former oil executive) have all joined the chorus singing sayonara to fossil fuel investments.
But if you listen to their reasoning, this is not about biting off the hand that fed them; rather, it’s about morality and economics.
It’s about the morality of… read more>