Dissonance and Divestment: Profile of An Activist
“Why should people divest from the fossil fuel sector?” Lisa Renstrom pauses and thinks. “Let me count the ways.”
“Why should people divest from the fossil fuel sector?” Lisa Renstrom pauses and thinks. “Let me count the ways.”
It is rare for a report to hold the potential to change the world, but one study published last month may do just that. The Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD — a group of experts assembled by the G20’s Financial Stability Board) aims to give investors, lenders and insurers visibility of how climate-change risk will affect individual businesses, and a road map for reacting to it.
Sasja Beslik, head of sustainable finance at Nordea, one of the largest banks in Europe, recently traveled to the Standing Rock Sioux Reservation on a fact-finding mission.
Marking the divestment movement’s “undeniable success,” a new report shows the value of funds controlled by individuals and institutions who have vowed to dump their fossil fuels assets now surpasses $5 trillion.
With the benefit of hindsight, would you have wanted your pension being invested in cassette tapes, floppy discs, fax machines, Kodak or Blockbuster in 2000?
Might it be that the ongoing implosion of fossil fuel industries will happen much faster than the necessarily explosive transition to solutions?
Yet I would argue that for the work of climate justice campaigners to be meaningful, it is essential that campaigners are able to see where the global appears in the local and indeed the local in the global.