Fossil fuels power our vehicles, control the climate in our buildings, and perhaps of primary concern – make plastics. One of the reasons they are so ubiquitous in our communities is that fossil fuel companies are heavily subsidized by governments and supported by banks and financial institutions. Fossil fuel companies need to be responsible for the consequences of their negative impact on the environment. And banks and institutions need to also feel responsibility for their support for this pollution creating industry. We, the consumer, can help move the needle toward more corporate responsibility by divesting our money in banks and institutions that support fossil fuel exploration. That exploration should be winding down, not ramping up. “An Oxford study made this point, stating, ‘the most far-reaching threat to fossil fuel companies’ comes from increased social and political stigmatization of their activities and the resultant uncertainties around their long-term viability. Within finance, government, and civil society, the divestment movement has forced a fundamental reckoning with the future of the global energy system.” (Forbes magazine Feb 20, 2021)
Every consumer can be a part of this movement. What credit cards or bank do you use? Choose a credit card and/or bank that avoids fossil fuel investment and invests in local communities and alternative energy. Find them at greenamerica.org/getabetterbank. If you want to learn more, please consider coming to a workshop on divestment at 12 noon at St. James’ Church, Skaneateles on October 2nd.