Upload
rudolph-boone
View
219
Download
0
Tags:
Embed Size (px)
Citation preview
FAN Climate Webinar January 9, 2014
Fossil Fuel Divestment and Competitive Ecological Reinvestment
Francis in the Public Square
St. Francis’ Letter to Rulers
To all mayors and consuls, magistrates and rulers throughout the world, and to everyone who may receive these letters:
Brother Francis, your little and despicable servant in the Lord God, sends his wishes of health and peace to all of you.
St. Francis’ Letter to Rulers (cont.)
Pause and reflect, for the day of death is approaching. I beg you, therefore, with all possible respect, not to forget the Lord or turn away from His commandments by reason of the cares and preoccupations of this world, for all those who are oblivious of Him and turn away from His commands are cursed and will be totally forgotten by Him. And when the day of death does come, everything which they think they have will be taken from them. And the wiser and more powerful they may have been in this world, so much greater will be the punishments they will endure in hell.
Fossil fuel divestment and clean energy reinvestmentin faith communities
Overview
BackgroundWhy Divest
&Reinvest Now!Resources
GreenFaith’s Mission
GreenFaith helps diverse religious communities put their beliefs into
action for the Earth.
www.greenfaith.org
Background
Context of frustration and desperation
Starts with coal on college campuses
The “filthy fifteen”
McKibben in Rolling Stone, July 2012
300+ campuses, growing number of municipalities
Faith-based/denominational efforts in early stages
Divest & Reinvest Now! Goals
Create and share resources to support faith-based discussion and action
Educational
Resolutions
Support leaders and activists in diverse denominations
Organize multi-denominational gatherings for leaders/activists
Publicize
Initial Reactions Galvanizing
Skeptical
That it can make a difference
That it is financially responsible
The wrong target “Divestment fatigue”
Anti-Israel concerns
Frequently used instead of last resort
Preference for engagement through shareholder advocacy
Background for Faith Groups
Long history of ethical use of money
Long history of investment screening/ divestment
Tobacco, alcohol, weapons manufacturing, prison construction and management, gambling, financial service firms, pharmaceuticals, adult entertainment, pork production, and more
Why Faith Groups Divest
Reason #1: Responding to Grave, Large-Scale Harm
Activity causing grave injury or death on a large scale
Degradation of human dignity
Integral to industry or government functioning
This reason suffices for some faith groups
Conservative Christian divestment in alcohol, tobacco, adult entertainment/pornography
Why Faith Groups Divest
Reason #2: Responding to Intractable Resistance
Religious preference for some attempt at dialogue
ICCR, shareholder activists – retain influence through ownership
Must exhaust other alternatives – divestment as last resort
Industry/government must demonstrate stubborn resistance to change
Industry counter-attacks, false research, PR
Why Faith Groups Divest
Reason #3: Redefining Society’s Moral Code
Relational, discussion-based
Create reputational risk; modern form of shunning/shaming
From inconceivable/laughable to irritating to plausible
Uncertain impact– tobacco vs alcohol
South Africa as strong example
Success depends on credible case for moderates
Fossil Fuel Meets the Criteria Massive harm
More than all other divestment targets of the past century combined
Fundamental resistance
Skeptic science, malign influence on government
Opportunity to influence society
Desperation and tragic aspect of divestment
Lack of success through other strategies
Reinvestment
It’s not the 60’s or the 80’s
Protest not enough
Values-based investing
In own facilities
Religious facilities as ‘green laggards’
In clean energy/clean tech
Divestment, Reinvestment and Sacrifice
Misguided effort to downplay risk
“We won’t lose money – fund managers will fix it.”
Denial of risk.
Accept that moral stance involves a sacrifice.
Potential financial sacrifice.
Attention, time, for fragile institutions
GreenFaith’s Resources
Web-based resource center
Educational tools
Statements, sermon aids, discussion guides
Sample resolutions
Media and reports
http://greenfaith.org/programs/divest-and-reinvest
GreenFaith’s Resources
Monthly webinars
Biblical/theological
Practical/strategic
Sample resolutions, essays
Sermon and discussion group resources
Support for organizers/activists
Campus-based efforts
Final Notes
The depth and effectiveness of the discussion is the ultimate value of divest/reinvest
Tragic naturePlausibility for moral moderates
Contact Information
The Rev. Fletcher Harper
732-565-7740, ext. 301
Skype – revfharper
Twitter - @greenfaithworld
www.greenfaith.org
Competitive Ecological Investing by Frank Morris
What does it mean to invest in the Common Good?
Global Fresh Water Crises
There are concerns of a global fresh water crises.http://www.unesco.org/bpi/science/content/press/anglo/10.htm
Thermo electric power plants
11% 1%
31%
1%4%2%1%
49%
Percentage of H2O usage
Public SupplyDomesticIrrigationLivestockAquacultureIndustrialMiningThermoelectric Power
Thermo electric power plants (centralized coal, oil, nuke and gas) claim 40% of Americas fresh water usage.lhttp://pubs.usgs.gov/circ/1344/
Fresh Water, Clean Energy, Jobs
Electricity Storage
Renewable
Energy
Energy Efficienc
y
Employing energy efficiency, renewable energy, and electricity storage-helps to maintain fresh water supplies and provides electricity with less pollution, and provides new jobs and industries.
Retrofitting
Johnson Control's energy efficiency retrofit, helped the Empire State Building use substantially less electricity.
NYC Solar Energy Potential
These energy cost savings, after a energy efficiency retrofit, can often be used to pay for the retrofit in less than 5 years. http://www.energytaxsavers.com/
NYC has 5800 mega watts of solar energy potential.http://www.nytimes.com/2011/06/16/science/earth/16solar.html?_r=0
European Uncertainty in Utilities
In Europe, alternative energy has caused uncertainty for utilities, resulting in 500 Billion euros of value destruction. http://www.economist.com/news/briefing/21587782-europes-electricity-providers-face-existential-threat-how-lose-half-trillion-euros?fsrc=scn/tw_ec/how_to_lose_half_a_trillion_euros
Solar Roofs in Germany
In Germany, 1.5 million citizens have installed solar roofs. Solar roofs are dropping in cost, as their efficiency improves. hese solar roofs provide a distributed income for homeowners. The model is applicable wherever the sun shines.
Urban Population Growth
As global populations grow and urbanize, water utilities will provide improved health and quality of life.As global populations grow and urbanize, rail and bicycle transportation will continue to grow and improve.
Organic, Fair Trade, and EPENX
Fair trade and organic foods are a viable, distributed, and growing. http://www.reuters.com/article/2011/07/05/us-un-farms-idUSTRE7641MT20110705
EPENX
Firms providing organic foods, metals recycling, rail, bicycles, alternative energy-renewables-storage, water utilities, bio-remediation and pollution control are building a competent, more ecological infrastructure. The Epiphany Global Ecological Mutual Fund EPENX, is a catholic faith based mutual fund investing in ecological solutions
Ecological infrastructure distributes wealth and income, where as fossil and commodity based infrastructure-concentrates wealth and income
An Ecological Economy of Communion
An "Ecological Economy of Communion" (competing within the global, exploitative market economy) can thrive, and is thriving now, to provide dignity, quality of life, and the Common Good.
Next Steps
Pray About how best to bring your faith to Investing.
Review your own Investment Portfolio
Investigate the Investments of your business or community
Meet with Investment committees to discuss alternative options (Bring a friend!)
Research Mutual Funds like EPENX or other sustainable investment options for comparisons.