It’s time to be sure-footed on fossil fuel divestment

Sep 11, 2018, 6:21 AM EDT
(Source: Fossil Free Greater Manchester Divestment Campaign/flickr)
(Source: Fossil Free Greater Manchester Divestment Campaign/flickr)

A growing fragility in economics, if not the moral obligation towards our future generations, is one reason why investments in fossil fuel companies may fall out of favor with many institutions, a glimpse of which manifests in a recent report.

Stats reveal that the funds committed to fossil fuel divestments have surged to $6 trillion, with insurance industry spearheading the financial divorce from coal, oil and gas companies that are brazenly devastating our planet and population, notes The Guardian.

Bill de Blasio, Mayor of New York City, and Sadiq Khan, Mayor of London, in a joint article for The Guardian urged the cities to divest from fossil fuels, a move that can pull the plugs on a dirty industry and can accelerate the transition to a low-carbon economy, reports Earther.