Fossil Fuel Divestment
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A case for divesting from fossil fuels
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Fossil Fuel Divestment
- 1. Fossil Fuel Divestment Why we need to do it NOW
- 2. Overview • Climate change • The numbers • What the proposal does • The proposal’s fiscal impact
- 3. Climate change Climates change ◦ Consider the ice age ◦ Climate hasn’t changed since advent of civilization This is different ◦ Human caused ◦ Carbon recycled until 1800 ◦ After 1800, Carbon in the ground burned and put in the atmosphere ◦ It’s happening quickly
- 4. Why climate change is scary Water availability depends on climates Food production depends on climates What will happen when water and food become scarce world-wide? ◦ People dying of thirst is a moral issue ◦ People dying of starvation is a moral issue ◦ People going to war is a moral issue
- 5. The numbers – CO2 levels 260ppm to 280ppm – 9000 BCE to 1800 CE 350ppm – no climate change 400ppm – where we are today: some climate change
- 6. The really scary numbers 2 degrees Celsius The Most conservative countries agree that warming above this is dangerous We’ve already raised the temperature 0.8 degrees Celsius 565 gigatons How much CO2 we can put in the atmosphere and stay below 2 degrees Celsius 2795 gigatons How much CO2 exists in the known reserves of fossil fuel Fossil fuel companies are searching for more
- 7. It is immoral to break the climate
- 8. It is immoral to make money breaking the climate
- 9. Why we need to divest NO CLIMATE ACTION TAKEN We make sure we don’t make money through the immoral act of breaking the climate CARBON RELEASE LIMITED We get out of the fossil fuel market ahead of its crash
- 10. Here’s the recommended action Divest from the 200 companies that hold the highest levels carbon reserves. What are those companies? The list of 200 coal, gas, and oil companies can be found here: http://www.carbontracker.org/wp- content/uploads/downloads/2012/08/Unburnable-Carbon-Full1.pdf
Notas do Editor
- Climates have changed through all of geologic history. We know this because in human history, the climates have changed. For instance, the last ice age ended. But, here’s an important thing: the climate has been stable since the advent of civilization. In fact, civilization is possible (think about agriculture, to start with) because of the climate.The climate is changing! And this is different from climates changing before in geologic history. (1) This change is caused by human beings, and that change is caused by humans taking the carbon that has been sequestered underground in the form of fossil fuels and burning it. (Prior to industrial revolution, carbon in the environment went from atmosphere to vegetation and animals, then back into the atmosphere.) (2) This is happening very quickly. Climate is changing not over millennia, but over decades.
- Since the beginning of civilization, CO2 levels have been around 275ppm. James Hansen (climate scientist from NASA) has said that CO2 levels above 350ppm mean there will be some climate change (and the higher the levels, the more the climate will change). We are at 400ppm. That means there will be some climate change. The question is how much.
- See http://www.rollingstone.com/politics/news/global-warmings-terrifying-new-math-20120719 for details.
- We should divest from the companies that hold these carbon reserves. There are two possible courses of action that the international community will take:There is no climate action. Then we need to make sure we’re not making money through the immoral act of breaking the climate. Divestment will also start to shift the public conscience on the crisis (consider the roll divestment played in ending South African apartheid).There is climate action. In this case, the fossil fuel market will crash, and it would be nice to get out of that sector of the market before that crash happens.