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Tuesday, March 25, 2014

Stephen Bede Scharper: Wrecking the climate is bad business | Toronto Star

"Last month, Trinity-St. Paul’s United Church unanimously voted to ensure that its own funds are not invested in the world’s 200 largest fossil fuel companies.

"The vote emerges from a growing concern over “climate justice,” which asserts that while wealthy industrialized nations are the most responsible for carbon emissions engendering climate change, the most destructive effects of climate change are often felt by impoverished groups who are the least responsible for global warming. ...

"As recent reporting by Carol Goar in these pages has suggested, the clean technology industry in Canada, with Ontario as its epicentre, now employs more than the forestry, aerospace and pharmaceutical industries, generating 2,300 jobs alone last year, upping the total number of jobs to 41,000. This industry spawns $5.8 billion in export revenues, is tops in research and development investment and exhibits promising resilience, continuing to show growth even during the 2008-2009 financial debacle.

"The fossil fuel divestment moves by Trinity St. Paul’s and the investment risks posed by climate change in the Mercer study both point to the wisdom of moving away from a climate changing, fossil fuel extracting economy to a life-affirming, clean and more equitable financial — and moral — environment.

"It turns out wrecking the climate is bad business all around."

Wrecking the climate is bad business | Toronto Star

Stephen Bede Scharper is associate professor of environment at the University of Toronto.