Will the Financial Sector Help Put an End to Fossil Fuels?

There are some interesting things happening on the financial side of the climate emergency.  And, all the efforts of the global climate movement may have helped . .  . or not.  Who is to say?  The financial sector is its own animal.  And, it is coming to its own conclusions.

They may not be so concerned about whether we make it as a species . . . along with all the other species that are going extinct.  They most likely are concerned about whether they are going to lose or make money on the climate emergency.

Can they really exist in a bunker if the planet is too hot or cold to grow food while the rest of us scramble to exist?  I find it hard to believe that they can divorce themselves from the planet and have enough resources to exist.  Hmm, that is just me wondering.

Here are some articles that have come my way that illustrates the financial sector is moving in a direction that leads one to believe that they know the climate emergency is real . . . and . . . they are taking appropriate measures to save their little behinds, which in turn, really helps us out . . . the rest of humanity and the other creatures we live with.

This article, “Insurance Giant Ditching Coal Industry Called ‘Major Step Forward’—Especially If Others Follow,” from Common Dreams on July 1, 2019 by Jon Queally is about Chubbs, an insurance company with their headquarters in Switzerland, that is not going to insure coal anymore.   And, what if this sets a precedent and other insurance companies follow suit?  Hmm, I like that.

https://www.commondreams.org/news/2019/07/01/insurance-giant-ditching-coal-industry-called-major-step-forward-especially-if

Another article from blogger Gene Tracy called “Bubble, Bubble, Oil is in Trouble?” brings out a lot of facts of the future of oil and what investors and the oil industry are debating . . . or the quandary they are in trying to decide when to ditch oil.  Very worth reading.

Bubble, bubble, is oil in trouble? The carbon bubble, Part 1

I will add one more here.  This article, “Adding to Planetary Alarm Bells, Top US Finance Official Warns Climate Crisis a Recipe for Global Economic Collapse” from Common Dreams on June 12, 2019 by Jessica Corbett illustrates that the financial industry is taking note of the impact to the American economy and what that will mean due to the climate emergency.

Here is part of a quote from Rostin Behnam, who is part of the Commodities Futures Trading Commission, in a meeting held on June 12:

“The impacts of climate change affect every aspect of the American economy—from production agriculture to commercial manufacturing and the financing of every step in each process,” he continued. “Any solutions seeking to address and mitigate climate risk must be equally focused on ensuring the safety and continued prosperity of our urban cores and rural communities. Failing to address financial market risks associated with climate change will impede economic growth, and most likely hit rural communities the hardest.”

I am really happy they are finally taking note that we are indeed . . . in a climate emergency.

https://www.commondreams.org/news/2019/06/12/adding-planetary-alarm-bells-top-us-finance-official-warns-climate-crisis-recipe?cd-

That does not mean we stop fighting to save humanity . . . but it does give me some hope there is something happening over in the 1% camp that may actually help us.

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