Fossil Fuel Divestment Works in Slowing Global Warming

This is something that more and more people need to be made aware of. Fossil Fuels are continuing to pollute our world – and there’s very little that we’re doing about it.

Emilio Cogliani

Co-authored by Julia Trezona Peek

Once the lone province of climate scientists, the chorus warning of the costs of inaction on climate change grows larger daily, from former United States Treasury Secretary Henry Paulson, who warned Washington this summer of the coming climate bubble, to Desmond Tutu, who has urged institutions to divest from fossil fuels. Even the U.S. Congress, the week before August recess, introduced two big climate-related bills (in the House) and held four hearings on climate change. The tide is clearly shifting.

Financial pressure from the fossil fuel industry, however, has helped ensure that overall the U.S. Congress has done little to confront the challenges of a warming world. The fossil fuel industry spent $536 million on lobbying and donations to the 112th Congress and receives an estimated $37.5 billion annually in U.S. subsidies.

This lobby legacy, and the bias Congress and the administration have given to…

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