We’ve had some lively discussions here recently on the validity of environmentalists’ divesting in fossil fuel companies. Personally, I remain sold that there is merit in the concept, and that a reduction in demand for oil companies’ stock, which brings down the share prices, puts pressure on the companies to change their direction.
Financial analyst Tom Konrad of AltEnergyStocks.com agrees, but, more to the point, notes:
Divestment from fossil fuels is something we should be doing even if it were not very effective. Changing a light bulb is not going to stop climate change, but that does not mean it’s not worth doing. And we should not invest against our principles even if we believe the harm we’re doing with our investments is minor. People and groups worried about climate change should (not be) investing in fossil fuel extraction.
I’m reminded on one of our many discussions, Tom, where I (foolishly) said, “Well, China’s carbon footprint will ultimately dwarf ours; does it really matter what we do here in the US?” You responded, and I paraphrase, “Do you think the fact that other people litter, or rip off their investors — or whatever — provides you the moral right to do the same? You probably don’t, but you need to realize that your argument here really isn’t much better than that.” Touche.
I’m also reminded of Mahatma Gandhi: ”Whatever you do will be insignificant, but it is very important that you do it.”
That’s the thing I honestly love about the renewable energy / cleantech movement: it’s on the right side of everything. We’re making our planet a better place on which to live, at the same time our industry grows at an astonishing rate. Click here to learn what percentage of the power that came on to the grid last year was renewable. Or, if you’re like me, and you like to take fun little quizzes, check this out.
