Dr Quintin Rayer, reflects on fossil fuel extraction, divestment, and morality.
Climate concerns have emerged as a significant theme in ethical investing. Global warming is almost certainly the most significant challenge and the greatest threat that humanity, and our planet, face today. Along with an increasing number of investors, at P1 we are focusing on reducing carbon emissions associated with our portfolios.
One response has been to divest from fossil fuel companies that are responsible for the source of emissions. What motivates investors to fossil divest? One reason is a desire to halt the extraction of carbon-dioxide generating fuel reserves to stop the damage being done to Earth’s delicate climate balance. Here we explore the moral argument, which for many, makes this reason paramount.
Q G Rayer (2020), Divesting From Fossil Fuels, Justice & Peace Scotland, a Commission of the Scottish RC Bishops’ Conference, blog, available at https://www.justiceandpeacescotland.org.uk/Blog/itemid/3175/amid/676/divesting-from-fossil-fuels, 2 pages, 30 September 2020.