QUICK NEWS, October 8: Investing To Beat The Climate Crisis; All The Way To New Energy
Investing To Beat The Climate Crisis How can I invest my money without contributing to the climate crisis?
Eve Andrews, October 3, 2019 (Grist)
“…If the various companies that make up your mutual fund or index fund do well, you get some money. And if any of those companies are involved in fossil fuel extraction, then you made that money on climate change…[If your priority is ethical purity, don’t] invest at all…[But if] your priority is doing everything you can as an individual to mitigate climate change, ignoring the entire world of finance might actually not be the most productive choice…[Because] there is truly no way to construct any of the infrastructure or rehome any of the people who will be displaced or develop any carbon-saving technology without money… [A government bond] is investing in a fossil-fuel friendly federal government…
...[A municipal bond] might be a greener way to invest…[But climate change is putting municipalities in jeopardy, making] munis a riskier bet…[I]ndividual shareholders of major companies do not have a significant enough stake to actually make their opinions matter… [T]here are a growing number of “green” funds offered by major brokerage firms that you can opt into…But a lot of them are playing pretty fast and loose around the definition of ‘green’…You can get a loan from a commercial bank to green your house or your community yourself…[You can support green community banks that] exist to support climate-forward community projects…[And you can vote out of office] the people who keep passing backwards legislation subsidizing fossil fuel companies…” click here for more
All The Way To New Energy Can We Overcome The Last Few Hurdles For Renewable Energy?
Charles Tower-Clark, October 4, 2019 (Forbes)
“…[New Energy] is quickly becoming a viable alternative to fossil fuels, and significant global adoption could help to mitigate the more drastic and immediate effects of climate change…[But it] is not as simple as installing renewable technologies and plugging them into the grid…Much of the grid in the U.S. is decades old, and is not prepared to handle large amounts of renewable energy…[Also, both New Energy and consumer demand are variable and do not necessarily match up…As a result, renewables are far more cost-effective when battery technology can be deployed…While recent advances in battery capacity and longevity (as well as battery chemistry itself) are encouraging, cost is always the most significant factor that limits the adoption of new technology—despite the drastic consequences of the lack of change…
Globally, however, the fossil fuel industry receives around $370 billion in subsidies, compared to $100 billion for renewable energy…[and] there are signs that renewable energy may not need subsidizing for much longer…[Though fossil fuels are sewn into the fabric of the economy, fossil fuel subsidies could be directed toward easing the economic impacts of a transition. Greta Thunberg’s speech at the UN Climate Summit taught us] that inaction by world leaders on climate change will no longer be tolerated…[T]here will undoubtedly be tough times ahead for fossil fuel employment as the job market shifts to new jobs. But these costs and hardships are nothing compared to the costs of doing nothing…” click here for more