This week is almost all about the money. A group of investors representing 32 trillion dollars in assets demands increasing action by international governments on climate change. While this did occur last year (apologies for an old news story), the sentiment is more important now than ever. People want to know that there are powerful people that represent huge sums of money that want the same things they do – meaningful movement toward mitigating the effects of climate change.
In more timely news, KLP, Norway’s largest national pension fund (which ironically was created from revenues from oil resources) has stated they will divest from companies actively or passively involved in the deforestation of the Amazon rainforest in Brazil. Other international investment firms are also using their leverage to force companies operating in Brazil to adhere to international standards in mining, soy farming or other destructive industries.
While it is not great that there are companies in the world still destroying the environment for personal gain, the pragmatist in me knows it will initially be a slow change. Like a large ship turning in the sea, traditional business and investment houses will be slow to change at first. But once they have initiated this change in direction, there is not much that will slow or stop it. Therefore it is good news that the international investment community is now starting to make the turn and take a stand against these destructive practices.
In other top happy eco news stories, more US “red” states are installing wind power than ever. This is significant as the many of the traditional conservative states are located in some of the best areas for wind generation. Writer Jackie Filson of Food and Water Watch creates a list of 5 very simple policies (simple concepts yet very complex to deploy) that must occur in a comprehensive climate crisis plan, and Vancouver based Terramera raises $45 million to further develop alternatives to the synthetic chemical based fertilizers and pesticides used in agriculture.