Climate Change and Fossil Fuel Divestment

Transcription

1 Climate Change and Fossil Fuel Divestment Archbishop Desmond Tutu the human rights challenge of our time

2 The kind of world God wants:

3 The kind of world God wants: The pastures of the wilderness overflow, the hills gird themselves with joy, the meadows clothe themselves with flocks, the valleys deck themselves with grain Let the heavens be glad, and let the earth rejoice; let the sea roar, and all that fills it; let the field exult, and everything in it. Then shall all the trees of the forest sing for joy. (Psalms 65 & 96)

4 The kind of world God does not want:

5 The kind of world God does not want: The earth dries up and withers, the world languishes ; therefore the inhabitants of the earth dwindled, and few people are left. (Isaiah 24) The land mourns, and all who live in it languish; together with the wild animals and the birds of the air, even the fish of the sea are perishing. (Hosea 4)

6 The IPCC is the leading international body for the assessment of climate change under the auspices of the United Nations Thousands of scientists from all over the world contribute to the work of the IPCC on a voluntary basis. 195 countries participate

7 The world is getting warmer. Average temperatures for 2014 relative to historical average ( ). NASA

8 The world is getting warmer.

9 The world is getting warmer NASA

10 Atmosphere Earth

11 Atmosphere Earth oil coal natural gas FOSSIL FUELS

12 Atmosphere Earth oil coal natural gas FOSSIL FUELS

13 CARBON DIOXIDE Atmosphere Earth oil coal natural gas FOSSIL FUELS

14 Carbon dioxide traps the sun s heat, causing the Earth to warm. CARBON DIOXIDE Atmosphere Earth oil coal natural gas FOSSIL FUELS

15 Carbon dioxide is accumulating in the atmosphere. NOAA, Scripps

16 powerful hurricanes Climate change is more than global warming. extreme precipitation persistent drought

17 Extreme, persistent drought predicted for: Central and Western US Mexico and Central America Northern and Western South America Southern Europe Middle East Northern, Western, Southern Africa China and Southeast Asia Southeastern and Western Australia

18 July 2011 August 2014

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28 Extreme, persistent drought predicted for: Central and Western US Mexico and Central America Northern and Western South America Southern Europe Middle East Northern, Western, Southern Africa China and Southeast Asia Southeastern and Western Australia

29 As long as we keep burning fossil fuels, the climate will keep getting worse.

30 How much climate change is too much?

31 2 UN Copenhagen Climate Change Conference 2009

32 2 UN Copenhagen Climate Change Conference 2009 James Hansen, top US climate scientist Even 2 degrees is too much, and would "subject young people, future generations and nature to irreparable harm."

33 If 2 is too much, how much carbon dioxide is too much? NOAA, Scripps

34 Proven fossil fuel reserves on company books, in company stock values

35 Once we burn the next 20%, there will be so much carbon dioxide in the atmosphere that climate change impacts will be catastrophic. We need to leave 80% of fossil fuels in the ground. 20% Proven fossil fuel reserves on company books, in company stock values 80%

36 Once we burn the next 20%, there will be so much carbon dioxide in the atmosphere that climate change impacts will be catastrophic. We need to leave 80% of fossil fuels in the ground. 20% Proven fossil fuel reserves on company books, in company stock values 80% stranded asset

37 We have to act fast.

38 Yearly Global Carbon Dioxide Emissions (tonnes) We have to act fast. Jarvis et al. Nature Clim Chng

39 Yearly Global Carbon Dioxide Emissions (tonnes) We have to act fast. Jarvis et al. Nature Clim Chng

40 Yearly Global Carbon Dioxide Emissions (tonnes) We have to act fast. 20% we need to get to 0 with 80% left in the ground Jarvis et al. Nature Clim Chng

41 Yearly Global Carbon Dioxide Emissions (tonnes) We have to act fast % we need to get to 0 with 80% left in the ground Jarvis et al. Nature Clim Chng

42 Governor Jay Inslee We are the first generation to feel the impact of climate change, and the last generation that can do something about it.

43 Annual Amount in $ Billions Fossil Fuel Exploration Fossil Fuel Subsidies Renewable Subsidies Needed by Developing Countries World Bank, UN, International Energy Agency, Carbon Tracker, Grantham Research Institute

44 Annual Amount in $ Billions Fossil Fuel Exploration Fossil Fuel Subsidies Renewable Subsidies Needed by Developing Countries World Bank, UN, International Energy Agency, Carbon Tracker, Grantham Research Institute

45 Annual Amount in $ Billions 800 The money is there Fossil Fuel Exploration Fossil Fuel Subsidies Renewable Subsidies Needed by Developing Countries World Bank, UN, International Energy Agency, Carbon Tracker, Grantham Research Institute

46 What is fossil fuel divestment?

47 What is fossil fuel divestment? Freeze new investment in major fossil fuel companies, and sell off (divest) current holdings within 5 years. Holdings = direct ownership, and any funds that include fossil fuel equities or bonds.

48 > $50 Billion divested so far.

49 70 philanthropic organizations

50 24 educational institutions

51 67 religious organizations

52 Why fossil fuel divestment?

53 Why fossil fuel divestment? Because continuing the fossil fuel economy is wrong.

54 Bill McKibben, 350.org If it s wrong to wreck the climate, it s wrong to profit from that wreckage. Nobody should profit from the human suffering caused by the burning of fossil fuels. Archbishop Desmond Tutu Tutu Ellen Dorsey, Wallace Global Fund If we own fossil fuels, we own climate change.

55 Jim Yong Kim

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57 Why fossil fuel divestment? Because divestment will work.

58 Divestment will work.

59 Divestment will work. leave 80% in the ground

60 Divestment will work. fossil fuel companies shift out of fossil fuels leave 80% in the ground

61 Divestment will work. governments: stop subsidizing fossil fuels support renewable energy put a real price on carbon fossil fuel companies shift out of fossil fuels leave 80% in the ground

62 demonstrations letter-writing campaigning governments: stop subsidizing fossil fuels support renewable energy put a real price on carbon Divestment will work. energy conservation green energy invest. consumer choices shareholder engagement fossil fuel companies shift out of fossil fuels leave 80% in the ground

63 demonstrations letter-writing campaigning publicized divestment governments: stop subsidizing fossil fuels support renewable energy put a real price on carbon Divestment will work. energy conservation green energy invest. consumer choices shareholder engagement fossil fuel companies shift out of fossil fuels leave 80% in the ground

64 demonstrations letter-writing campaigning publicized divestment governments: stop subsidizing fossil fuels support renewable energy put a real price on carbon Divestment will work. energy conservation green energy invest. consumer choices shareholder engagement fossil fuel companies shift out of fossil fuels leave 80% in the ground

65 demonstrations letter-writing campaigning publicized divestment governments: stop subsidizing fossil fuels support renewable energy put a real price on carbon Divestment will work. energy conservation green energy invest. consumer choices shareholder engagement fossil fuel companies shift out of fossil fuels leave 80% in the ground

66 demonstrations letter-writing campaigning publicized divestment governments: stop subsidizing fossil fuels support renewable energy put a real price on carbon Divestment will work. energy conservation green energy invest. consumer choices shareholder engagement fossil fuel companies shift out of fossil fuels leave 80% in the ground

67 demonstrations letter-writing campaigning publicized divestment governments: stop subsidizing fossil fuels support renewable energy put a real price on carbon Divestment will work. energy conservation green energy invest. consumer choices shareholder engagement fossil fuel companies shift out of fossil fuels leave 80% in the ground

68 Governments are getting the message.

69 Governments are getting the message. California Senate Leader, Kevin de León

70 Industry is getting the message. Vice President Public and Government Affairs, Exxon Mobil

71 Industry is getting the message. Breaking up with fossil fuels is hard to do cartoon - Environmental Policy Alliance funded by the oil industry Bill McKibben

72 demonstrations letter-writing campaigning publicized divestment governments: stop subsidizing fossil fuels support renewable energy put a real price on carbon Divestment will work. energy conservation green energy invest. consumer choices shareholder engagement fossil fuel companies shift out of fossil fuels leave 80% in the ground

73 Divestment is possible.

74 Divestment is possible. Greenchip Financial

75 Annual Returns Divestment is possible. Fossil Free Indexes Annual Returns S&P500 vs FFIUS (S&P500 without fossil fuels)

76 Divestment is possible.

77 Divestment is possible.

78 Celebrant Will you strive to safeguard the integrity of God's creation, and respect, sustain and renew the life of the Earth? People I will, with God s help.

79 Celebrant Will you strive to safeguard the integrity of God's creation, and respect, sustain and renew the life of the Earth? People I will, with God s help. Then shall all the trees of the forest sing for joy.