Divestment has been a long-standing approach to influencing companies to be more socially and environmentally responsible. Author Bill McKibben extends that argument by including financial institutions – banks, asset managers, and insurance companies – in the process of making capital more scarce for fossil fuel producers. By depriving these companies of the financing arrangements needed to develop fossil-fuel resources, McKibben argues that financial institutions can help accelerate the movement away from fossil fuels and help limit the influence that these companies have over the economy and public policy.
It’s a long but thought-provoking piece:
https://www.newyorker.com/news/daily-comment/money-is-the-oxygen-on-which-the-fire-of-global-warming-burns?utm_source=Sightline%20Institute&utm_medium=web-email&utm_campaign=Sightline%20News%20Selections