OPINION: People Power, the Solution to Climate Inaction

• by Rob McCreath (brisbane)
• Tuesday, February 10, 2015
• Inter Press Service

The world's weather is being messed up by global warming, mainly caused by the burning of fossil fuels, which releases heat-trapping gases into the atmosphere.3

Every national science organisation in the developed world agrees that global warming is real and caused by human activities. That's good enough for me.

If we keep on burning coal, oil and gas at ‘business as usual' levels, our grandchildren will inhabit a planet some 5 degrees Celsius hotter by the end of the century – rendering large parts of it uninhabitable, including many currently densely populated areas, which will be under water due to melting glaciers and ice caps.

The impacts on farming in Australia (and everywhere else) of such a rise in temperature would be very severe indeed.

To avoid such a bleak future, we simply must stop putting greenhouse gases into the atmosphere. If our politicians had any common sense, they would change quickly to renewable energy, but sadly they are captives of the fossil fuel industry that funds their re-election campaigns.

Just look at the Nationals, who in spite of claiming to represent farmers, this month declared donations of 30,000 dollars from oil & gas company Santos, 25,000 from coal miner Peabody, and 50,000 dollars from prominent climate change denier and coal & oil company director Ian Plimer.

So, for the sake of future generations, we have to make this change happen ourselves, and the best way to do this is to disrupt the business model of companies trying to make money from fossil fuels by pulling the financial rug out from underneath them.

It's called divestment, which is simply the opposite of investment. Here's how it works. If you've got shares in fossil fuel companies, then sell them and invest in something that won't wreck the planet.

If your super fund invests in fossil fuels, then transfer your money to a fund that doesn't. If your bank lends money to coal, oil and gas projects, then take your business to one that doesn't. It will put a smile on your face.

The global movement to divest from fossil fuels is gaining momentum, and the more people that take part, the better it works. Share prices (just like wheat and cattle prices) are set by supply and demand, so as more people sell, the price falls.

When a company's share price falls far enough, it finds it more difficult to borrow money, with which to fund its next coal mine. Take oil and gas company Santos, for example. Due mainly to the recent plunge in oil prices, in the past six months its share price has dropped by almost 50 percent.

As a result, the company has announced plans to cut back on expenditure and reduce its operations.

On the flip side, the more money that flows into companies involved in renewable energy, energy efficiency and green technology, the faster they will grow and the sooner we can put a lid on runaway climate change.

A brave new world awaits. Let's divest together and change the future!

Global Divestment Day will be taking place on Feb. 13-14. Hundreds of events spanning six continents will be taking place. Join an event near you. For more information visit: gofossilfree.org

Edited by Kitty Stapp

© Inter Press Service (2015) — All Rights ReservedOriginal source: Inter Press Service

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