Friday, December 7, 2018

100 companies source of 71% greenhouse gases

One hundred companies cause 71% of greenhouse gas emissions. They’re energy companies, of course. Some are making efforts to switch to renewables but there’s still a strong incentive to recover capital costs of their fossil fuel infrastructure and sell remaining supplies of fossil fuels in the ground.

We need an orderly but swift transition to renewables. So what leverage do we have as citizens to change the financial calculus of these corporations?

You can divest them by selling their shares in your 401K, but that doesn’t really hurt the companies much. Someone else just picks up your shares. But this likely will reduce the volatility in your portfolio and align your investments with your values.

You can hold shares and vote on shareholder resolutions when the proxies come out. Ceres has a database of these.

You can buy green power and switch to electric or more fuel efficient vehicles, undermining their market.

You can write your congressman representatives at the state and federal levels, asking them to support “cap and dividend” policies that make fossil fuels more expensive but unlike the debacle associated with Macron’s policies, returns the money to people.

The “nuclear option” is for society to revoke the corporate charters of companies that aren’t switching fast enough. A corporate charter is society’s way of granting permission for a company to exist and to operate. Originally these were granted for a short period of time to provide a public good (or extract resources for the imperialist power.)

Who are the top 100 carbon polluters? The list is in this article.

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