Big Oil Ex-Chair Declares That Investors Should Divest From Fossil Fuel

by NATHANIEL DOWNES – Sir Mark Moody-Stuart is a Shell man. He rose through the ranks over almost four decades to become its chairman. If you cut him and 10W-30 poured out, few people would be surprised. His rank and position is tied entirely to fossil fuels. So when Sir Moody-Stuart says that investors need to divest, that is sell of their ownership, of fossil fuel companies in order to save the environment, people pay attention. While speaking at a dinner in London organized by Carbon Trust, an organization which advises businesses on how they can reduce emissions, Sir Moody-Stuart was very candid about what his former industry is doing, and what investors need to do. Divestment is a rational approach. If you think your money can be used somewhere else, you should switch it. Selective divestment or portfolio-switching is actually what investors should be doing. On the lack of progress...

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