Dec 14 (Reuters)-- A landmark deal to curb global warming dented
shares of fossil fuel companies on Monday and lifted renewable energy stocks, although some price swings were muted by the non-binding nature of the pact.
As was reported by Karl Mathiesen in The Guardian, 2014/07/30, «dozens of cities, institutions and investors are taking their money
out of fossil fuel companies after the launch of the divestment campaign in the US around 18 months ago.»
The Canadian conversation about the role
of fossil fuel companies in causing local climate impacts took a step forward in June 2015, when the District of Highlands, a small local government on southern Vancouver Island, became the first municipality in the world to write a «climate accountability» letter to 20 fossil fuel companies.
The issue of the bubble arises because the combined proven oil, gas and coal reserves currently on the
books of fossil fuel companies (and governments in the case of NOCs) will produce far more than this amount of CO2 when consumed.
It makes my heart sing to see that they too point out the irony of Smith claiming the UCS is trying to suppress the First Amendment
rights of fossil fuel companies while he's attempting to squelch the UCS's First Amendment rights.
The appointment to lead the EPA is a reward for Pruitt, who dutifully acted on
behalf of fossil fuel companies as Oklahoma attorney general, and a consequence of the Republican administrations close ties to the oil and coal industries.
The official account of a two - day conference on climate change influentials held years earlier in 2012, the book details greens leaders exploring potential stratagems for the
destruction of fossil fuel companies.
Under Raymond, Exxon led a
coalition of fossil fuel companies called the Global Climate Coalition, which sought to delay action on climate change and cloud public understanding of the issue.
Mr. Tillerson himself has been asked to testify about the
role of fossil fuel companies and the government in causing climate change, as part of a lawsuit brought by children alleging their constitutional rights have been violated.
A recent study at the University of Oxford found that the stigmatization
of fossil fuel companies caused by divestment can «materially increase the uncertainty surrounding the future cash flows of fossil - fuel companies» and poses as their most far - reaching threat.
Two California communities — San Francisco and Oakland — filed lawsuits this week against a number
of fossil fuel companies for their climate impacts.
To be sure, McKibben announced a small victory last week: An environmentally - oriented college in Maine named Unity College voted to sell the
stocks of fossil fuel companies in its endowment, but its holdings amount to $ 13 million.
Schneiderman said Lasher as his chief of staff «was a driving force behind some of our office's most groundbreaking work, including our
investigation of fossil fuel companies, our unprecedented work to stop misconduct by landlords and building owners, our partnership with the New York State Education Department to ensure access to education for immigrant children, and our work to provide bulletproof vests to police officers and stop online sales of illegal guns»
Along with falling gas prices, they've slashed the
profits of fossil fuel companies, which are delaying dozens of billion - dollar projects and laying off thousands of workers.
New York / London, April 23 — The Carbon Tracker Initiative and Energy Transition Advisors today jointly publish a «blueprint» showing the
benefit of fossil fuel companies stress testing their businesses using a set of low carbon, low price scenarios.
While over 100 mainstream American companies have fled the controversial organization, a 2017 Annual Meeting registration list shows that ALEC is still chock
full of fossil fuel companies.
According to officials,
securities of fossil fuel companies currently make up less than three percent of New York's $ 189 billion pension fund, which will eventually be reduced to zero.
«A group of climate skeptics who weighed in on climate lawsuits in California revealed their recent funding, and court documents show their donors are a
mix of fossil fuel companies and conservative think tanks.»
The public relations
machines of fossil fuel companies would have us believe that new hospitals, better education, and all sorts of other good things are reliant on the prosperity that comes from us allowing them to sell off our fossil fuel «resources».
Those direct engagements clearly showed that the investors are becoming increasingly empowered to engage with companies to align capital allocation in accordance with the exposure to climate risks, while the Boards and executive
teams of fossil fuel companies are becoming more aware, proactive and better able to manage climate risks.
... I will call on my friends, and I know it's very difficult, a
lot of these fossil fuel companies finance a lot of the programs, and they finance the campaigns and they finance conferences.
Colin Roche, fossil free campaigner at Friends of the Earth Europe said «European taxpayers» money should be used to support desperately - needed clean energy projects, not further line the
pockets of fossil fuel companies.»
«We can not allow our children to be poisoned by toxic drinking water just so a
handful of fossil fuel companies can make even more in profits,» he wrote in April.
Plaintiffs propose to remedy this worldwide problem by holding a select
group of fossil fuel companies liable for lawful conduct occurring around the world.»
«The
value of fossil fuel companies is dependent on reserves of oil, coal, and natural gas — reserves that must remain in the ground for us to have any hope of avoiding dangerous climate change.