- Protect our land and water from mining.
- Honesty and integrity in politics
- Local jobs
- People before profits
- Improved heath and education services.

Thursday, 21 March 2013

The financial risk in investing in fossil fuels and lending to coal and gas companies.

From Renew Economy
WOW! This article talks about how major institutions like HongKong and Shanghai Bank etc are now talking about the concept of unburnable carbon and the financial risks in investing in fossil fuels and lending to coal and gas companies. 

A quote: "It is now realistic to imagine removing the coal, oil and gas industries from the economy in less than 20 years. Doing so is required if we are to have an 80 per cent or greater likelihood of preventing the climate warming past 2°C, a point past where the system could spin out of control.
What we are now hearing from major international economic institutions is that this is a binary choice. Either this happens or we head for social and economic breakdown. As the World Bank argues, the latter “must not be allowed to occur”.

No comments:

Post a Comment


Related Posts Plugin for WordPress, Blogger...