from the Guardian newspaper – bang on
“Engagement is pretty weak tea: but divestment is weaker still in terms of practical effects: it just transfers shares to investors who don’t care at all.
The big point the endowment managers are missing, however, is about the limit to pragmatism, especially when it runs up against basic ethical idealism. The main reason to divest from the fossil fuels is – it’s simply the right thing to do.”
“The Guardian’s campaign is not a waste of time and effort. In a sense it’s already worked. About 170,000 people have signed the petition, with more names being added by the minute. The idea is out there, going viral. We’re changing the way the world thinks about fossil fuels, we’re altering the way the world thinks about the companies that profit from them.
Which means that we have changed the world for the better. Let’s keep it up.”