And while #Coal plants are being closed all over the US, The #Philippines is welcoming the dirty fuel with open arms even in #Palawan! #energy #hypocrisy much? #Pnoy
For a while it was just a dream of environmental activists and college student protesters. Then a handful of liberal universities, and financial institutions jumped in. And this week Norway’s $890 billion government pension fund joined the trend, followed by an endorsement by Sir Mark Moody-Stuart himself, the former chairman of oil giant Royal Dutch Shell.
We’re talking about divesting from coal investments, and even other fossil fuel funds. According to Bloomberg New Energy Finance, there are as many as 200 organizations that have pledged to cut back or eliminate investments in coal or in fossil fuels more generally. Large universities include Stanford (which took the plunge over a year ago) and Oxford. Large corporations include AXA, France’s largest insurer.
Coal is the easy fossil fuel to divest from. In developed nations like the U.S. it’s in decline and beginning to be seen as a risky industry…
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