Sweden's Second AP Fund has just divested $116 million from oil, coal and gas companies

I wonder if this: Lockheed says makes breakthrough on Fusion Energy project has anything to do with the recent divestments of oil stocks.

The majority of the turnover generated by the coal-production companies identified in the Fund's analysis derives from the sale of thermal coal. These companies face considerable climate-related financial risk, due to the negative environmental and health impacts of coal, which affect demand. Furthermore, coal-powered electricity production is subject to competition from gas and renewable energy. In the case of oil-and-gas companies, the Fund has identified a number of companies featuring substantial exposure in high-cost projects, such as oil-extraction from oil sands. The Fund believes these companies face serious climate-related financial risks and that it is highly likely that these projects may either be stranded or unprofitable.

source

Rockefellers, Heirs to an Oil Fortune, Will Divest Charity of Fossil Fuels

At the Rockefeller Brothers Fund, there is no equivocation but there is caution, said Stephen Heintz, its president. The fund has already eliminated investments involved in coal and tar sands entirely while increasing its investment in alternate energy sources. Unwinding other investments in a complex portfolio from the broader realm of fossil fuels will take longer. “We’re moving soberly, but with real commitment,” he said. Steven Rockefeller, a son of Nelson A. Rockefeller and a trustee of the fund, said that he foresees financial problems ahead for companies that have stockpiled more reserves than they can burn without contributing significantly to climate damage. “We see this as having both a moral and economic dimension,” he said.

source

a reply to: AlaskanDad

that is a really interesting idea...with the lockheed connection...

you this got me thinking...America is perhaps known as the place that births some of the greatest and most successful companies...what is to stop them from all leaving as america continues to go down the # hole. I know many are indeed moving out of country for tax breaks or outsourcing...and google has the huge mysterious barge would could be its own island haha...

Swedish and British forests suffered from acid rain damage back in the 1980's and 1990's. The sulphur emissions would combine with water to form sulphuric acid and eat away at the roots, leaves and branches of trees.

There was a thread started about the mysterious Moscow plane crash involving the powerful CEO of the French oil Christophe de Margerie but the mods pulled it for some reason.

www.bloomberg.com...

I was wondering the same thing. Maybe they decided that since the price of oil is dropping they should roll out the new system, which, of course, will cost more?

Though I still support it even if it does cost more.

a reply to: CB328
If it "costs more" thats simply because they want more profit off it... reliance on resources is about creating dependence, for political control, even if they say its in the name of the environment!