The truth is it is our investment decisions which are propping up the fossil fuel industry, our pension funds in particular.
If you have a pension fund how aware are you of where your money is being invested? How is your retirement fund being made? Are you profiting from tobacco, oil and gas exploration, or other industries which do not sit well with your values?
The Carbon Bubble
There is something called the ‘carbon bubble’. The bottom line is that in order to prevent runaway and catastrophic climate change we need to keep four fifths of the fossil fuels already discovered and committed to the stock market in the ground. The science is firm on this, and 97% of climate scientists agree that climate change is caused by our activities and our energy intensive way of life.
This is the fundamental reason why climate change confusion is kept alive, to keep doubt in our collective minds so that a global cap is not placed on the amount of fossil fuels extracted and burned. Once the bubble bursts, our investments will be wiped clean, a loss of billions of Pounds from the stock market.
Divestment away from fossil fuels
There is a huge ‘divestment’ campaign at the moment, encouraging people to divest away from fossil fuels and it’s really taking off. Recently Rockafellers, who made their fortune from fossil fuels have divested 10% of their assets away from fossil fuels into renewables. They join a number of philanthropists who have collectively diverted $50 billion of investments away from coal, oil and gas.
Join them by asking your pension fund how they are investing your money through this really simple website ShareAction. If you don’t like the answer they give then look at changing your pension fund. The more people that ask, the more conversations are going to happen in their Board rooms, the higher likelihood there is of them changing their tack and choosing to invest your funds differently.