. By allowing the industry to continue polluting the atmosphere indiscriminately, the world will reach an uninhabitable 4 degrees Celsius increase by this century’s end, which will inflict unprecedented suffering.With the prospect of Senate Bill 252’s passage in 2024 , it would be prudent for their boards to acknowledge that continued engagement with Big Oil is futile.
We at Fossil Free California recommend that, rather than wait for legislation, the funds announce this year that they will prudently divest from fossil fuel companies completely within the next five years. This will assure their beneficiaries that they value their future; it will also safeguard their pensions from the stranded assets that fossil fuel investments will soon become.To the editor:
Your editorial misses the mark. Yes, “we need to stop burning fossil fuels and pumping pollution into the atmosphere,” but your approach to getting there is all wrong. Big Oil is merely supplying the fuel that we consumers want. Not only that, we demand that it be available at an affordable price. If the goal is to phase out oil, that’s a demand challenge. Every California motorist who goes to a service station for fuel is confronted with that decision. Fossil fuel divestment doesn’t reduce oil demand; it just negatively impacts financial portfolios.Irvin Dawid, Burlingame, Calif.