Global campaign for fossil fuel divestment will INCREASE carbon emissions, warns expert
03/28/2021 / By Cassie B.
A campaign aimed at encouraging individuals and organizations around the world to sell off their investments in fossil fuel companies in hopes of lowering carbon emissions could end up having the opposite effect, experts have warned.
On the surface, the idea of divestment might seem to make sense to those concerned about carbon emissions, with fossil fuel companies unquestionably contributing to the carbon dioxide emissions some blame for global warming. According to The Guardian, 20 fossil fuel companies are behind 35 percent of the energy-related CO2 and methane emissions on our planet since 1965. It is believed that pulling investments from such companies could cause them to change their business model dramatically in order to stay afloat. Moreover, investors could avoid the risk of having stranded assets by divesting.
This logic, experts say, holds water when considering companies that are heavily invested in coal, one of the most polluting fossil fuels. Places like China and India may still be constructing coal plants, but experts have predicted its contribution to the global energy supply will drop steeply in the coming years. The availability of cleaner alternatives means coal is not the safe long-term investment it once was.
https://www.climate.news/2021-03-28-fossil-fuel-divestment-will-increase-carbon-emissions.html#
