Sunday, October 27, 2013

The Movement Evolves

Possibilitator has authored a couple brief blogs "The False God of Profit" and "Evolution in Investing" on the divestment from fossil fuel companies in the past few months. Such movements, like any grassroots popular uprising are usually smugly discarded by the powers that be. This was true of the 40 hour work week, the end of slavery, women's suffrage, gay and lesbian rights, anti-apartheid movement, etc.

This past Thursday signaled a possible major shift in this issue as, according to an Associated Press report leaders of 70 major pension funds are asking 45 of the world's top fossil fuel companies to do detailed assessments of how efforts to control climate change could affect their businesses. These investors collectively control $3 TRILLION in investment funds, so their request cannot be ignored.

Meanwhile US SIF
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the leading pulse taker of the socially responsible investment industry, has created with Bloomberg LP, a Sustainable and Responsible Mutual Fund Chart that allows "individual investors to compare cost, financial performance, screens and voting records of competing funds". You can see which 145 funds are indeed "fossil free" as well as their performance over 1,3, 5, and 10 year averages.You can keep yourself up to date on this grassroots movement by visiting Fossil Free