"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.
