Hope for Climate Change
Ed Kluska’s Astrology Newsletter
With many people concerned about President-Elect Trump reversing much of the progress which has been made containing climate change, two articles in today’s New York Times offer hope.
Investment Funds Worth Trillions Are Dropping Fossil Fuel Stocks
“Investors controlling more than $5 trillion in assets have committed to dropping some or all fossil fuel stocks from their portfolios, according to a new report tracking the trend.
The report, released Monday, said the new total was twice the amount measured 15 months ago — a remarkable rise for a movement that began on American college campuses in 2011. Since then, divestment has expanded to the business world and institutional world, and includes large pension funds, insurers, financial institutions and religious organizations. It has also spread around the world, with 688 institutions and nearly 60,000 individuals in 76 countries divesting themselves of shares in at least some kinds of oil, gas and coal companies, according to the report.
“It’s a stunning number,” said Ellen Dorsey, the executive director of the Wallace Global Fund, which has promoted fossil fuel divestment and clean energy investment as part of its philanthropy.”
Bill Gates Expected to Create Billion-Dollar Fund for Clean Energy
“Bill Gates will announce the creation of a multi billion-dollar clean energy fund on Monday at the opening of a Paris summit meeting intended to forge a global accord to cut planet-warming emissions, according to people with knowledge of the plans.
The fund, which one of the people described as the largest such effort in history, is meant to pay for research and development of new clean energy technologies. It will include contributions from other billionaires and philanthropies, as well as a commitment by the United States and other participating nations to double their budget for clean energy research and development, according to the people with knowledge of the plans, who asked not to be identified because they were not authorized to discuss the fund.
The announcement of the fund, which has the joint backing of the governments of the United States, China, India and other countries, the people said, is intended to give momentum to the two-week Paris climate talks.”
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