Fossil Fuel Industry Still Winning the Investment War

The campaign to convince investors not to use their money to support the extraction and use of fossil fuels is failing to gain enough converts, experts say. There’s sobering news for campaigners trying to persuade investors to withdraw their funds from the fossil fuel industry:  UK experts say their efforts are unlikely to achieve enough quickly enough.

One expert, using the term often applied to the global energy industry, told a meeting in London:  “The incumbency is winning the cold war.”

Senior members of asset management firms and carbon risk specialists were invited this week by a prominent British charitable foundation, Sainsbury Family Charitable Trusts, to discuss the prospects for disinvestment and the attitudes in the City of London to attempts to match investment policies with avoidance of climate change risks.

They say the continued confidence of the industry in the long-term viability of coal, oil and gas - despite the plunging cost of many renewable fuels - means that the UN climate change summit in Paris at the end of the year will fall short of its aims.

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