CONGRATULATIONS to Royal Dutch Shell for winning a special award at the UN Climate talks in Lima recently the Sly Sludge Award for a deft bit of last minute name-cleansing; removal of the word “divest” from the talks’ side-panel discussion.
Divestment is making the fossil fuel industry nervous. The global movement to stop investing in coal, oil and gas is growing fast.
At last count, 697 campaigns, 34 cities, the World Council of Churches, Stanford University, the Rockefeller Brothers’ Fund, as well as the New Zealand Anglican church and Victoria University were among 700 investors, worth more than $50 billion, committed to divesting from fossil fuels.
Even the World Bank’s head advises governments and businesses to consider withdrawing funding from oil, gas and coal companies. READ MORE…
[By Rosemary Penwarden, Otago Daily Times, 14 February 2015]