Children learn that lying is wrong, often in kindergarten. Apparently, somewhere on the road to becoming corporate leaders, they un-learn that lesson, especially if they are running multinational oil companies. Today on Sea Change Radio we talk with The Guardian’s Suzanne Goldenberg who has been leading the charge in explaining the significance of an email which shows Exxon has been aware of the link between its operations and climate change for quite some time.
The Climate Policy Initiative (CPI) just released an analysis of the “Financial Impact of the Coming Low-Carbon Transition,” which computed the potential value lost to stranded assets, or what fossil fuel companies will have to leave in the ground in oil, gas and coal.
The sustainable investing community has a saying that their greatest achievement will be to put themselves out of business. The fossil fuel divestment movement could say the same: when fossil fuel companies stop their relentless drilling and all assets currently held in reserves are abandoned, drivers of the movement will be looking for work.
The way things are going with fossil fuel companies, we might be able to halt the divestment movement sooner than we think.
Investors win company commitments to address flaring and fracking; carbon bubble and methane emission resolutions win strong support
BOSTON, July 25, 2013 /3BL Media/ – Investors achieved noteworthy victories during this year’s shareholder proxy season, with a near record 110 shareholder resolutions filed with 94 U.S. companies on hydraulic fracturing, flaring, fossil fuel reserve risks and other climate – and sustainability – related risks and opportunities.
(Reuters) – A New Hampshire jury on Tuesday found Exxon Mobil Corp liable for $236.4 million (154.2 million pounds) in a civil lawsuit that charged the oil company had polluted groundwater in the state with a gasoline additive used to reduce smog in the 1970s and 1980s.