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UN Backs Fossil Fuel Divestment Campaign
mdsolar sends this report from The Guardian:
The UN organization in charge of global climate change negotiations is backing the fast-growing campaign persuading investors to sell off their fossil fuel assets. It said it was lending its "moral authority" to the divestment campaign because it shared the ambition to get a strong deal to tackle global warming at a crunch UN summit in Paris in December.
The move is likely to be controversial as the economies of many nations at the negotiating table heavily rely on coal, oil and gas. In 2013, coal-reliant Poland hosted the UNFCCC summit and was castigated for arranging a global coal industry summit alongside. Now, the World Coal Association has criticized the UNFCCC's decision to back divestment, saying it threatened investment in cleaner coal technologies.
The move is likely to be controversial as the economies of many nations at the negotiating table heavily rely on coal, oil and gas. In 2013, coal-reliant Poland hosted the UNFCCC summit and was castigated for arranging a global coal industry summit alongside. Now, the World Coal Association has criticized the UNFCCC's decision to back divestment, saying it threatened investment in cleaner coal technologies.
If there is a large sell off in fossil fuels, then the remaining actors will be able to purchase those assets for less money and have ample reserves to support politicians to prevent fossil fuels from being outlawed
Actions like this will only may actors like the kochs more wealthy and more likely to seek political influence
Wherever You Go, There You Are