But around the world investors are finally waking up. Coal, oil and gas companies face a triple whammy from research showing up to 80% of their fossil fuel reserves will be unusable (ie. stranded assets), class action suits such as the recent case filed against Exxon, and over US$6 trillion that has been divested from fossil fuel companies. Investors can now choose to avoid putting their funds into the reckless pursuit and production of more fossil fuels.
The surprising thing is that more investors don’t divest. In New Zealand, only 2% of Kiwisaver funds exclude fossil fuels. That means the vast majority of New Zealanders have not chosen to avoid fossil fuels in their Kiwisaver accounts.
Read the full blog here.