Climate Action Day 21 – Divest and Reinvest

Travel and Work

The Frog will explore The Climate Action Handbook: A Visual Guide to 100 Climate Solutions by Heidi Roop in the first 100 days of 2024

In the first `100 days of 2024 we will explore 100 climate solutions that may “empower you to evaluate, engage, and act” to address on-going climate change as an individual on your terms.

If someone tries to convince you that you are the cause of climate change, know this: since 1988 more half of global emissions came from 25 corporations and state-owned organizations. And if you think that investing in fossil fuels is becoming less popular, it is not true: banks have provided an investment of more than $3.8 trillion to the fossil fuel industry since 20`15.

There is, however, a growing movement to not only cut off the flow of funds to the these polluters, but to redirect funds to the growth of a clean energy economy. The Go Fossil Free campaign is targeting and pressuring universities and endowments to divest fossil fuel stocks, bonds, and other investments. And it is working, as with this effort and others, over 1500 institutional investors are actively working to strip fossil fuel companies of investment. There is also a drive to ensure that those assets are redirected to organizations focused on clean energy.

“The fossil fuel divestment campaign has gained momentum and is credited with changing the narrative around climate change”

Heidi Roop

You can pledge to support the Go Fossil Free effort by signing a pledge that reads:

By signing below, I pledge I will stand for a Fossil Free world, and call on communities, governments and institutions – local and international – to stand with me. Together we must: >Ban all new coal, oil and gas projects, and begin phasing out those that are already built. >Divest from and defund fossil fuel projects. Not a penny more should go to fossil fuels. >Commit to a rapid, just transition towards 100% renewable energy for all. The age of fossil fuels is over. We are ready to create the change.

I also encourage you to become active with 350.org as they work to build a powerful climate movement. Founded by Bill McKibben, author of powerful climate books including Fight Global Warming Now: The Handbook for Taking Action in Your Community, the 350 in the name is to remind us that 350 ppm is the safe concentration of carbon dioxide in the atmosphere (it is 423 ppm as of yesterday).

While making your voice heard, become more savvy on how your own money is invested. Heidi encourages us to “be fluent in the financials of climate change”. Many people take a hands-off approach and trust their company or financial advisor on how the contributions to their 401K are invested. You may find that the investments made on your behalf are not aligned with your values, and it may take work and patience to convert funds and stocks to others that have a climate impact.

The good news is that The Global Fossil Fuel Divestment Commitments reports that over $40 trillion of investments are held by institutions that have pledged to divest. The site is a good place to convince yourself that institutions you trust are taking action. This is another relatively simple individual action we must take. Otherwise:

Next Up: Climate Action in 2024 – Day 22: Telecommute When Possible

Howard Creel

#rescuethatfrog
Email: rescuethatfrog@gmail.com