"We are also seeing an increased focus on the risks of stranded fossil fuel assets, evidenced by growing divestiture trends”
Thea Ormerod, president of the Australian Religious Response to Climate Change, recently gave a presentation at Rahamim on the benefits of channeling our investments away from fossil fuel industries.
As Thea explained, "voting with our feet" when we change our banking provider sends a significant message to the banks. She believes that, while recycling is beneficial to the environment, ethical investments (changing banks, super funds) are more effective in accelerating change toward a clean-energy future.
"Investing in an ethically managed fund or super fund is one of the biggest, yet easiest, things someone can do to make a real difference on a range of environmental and social issues." [Source: http://www.arrcc.org.au/invest-ethically]
Now comes yesterday's announcement in the Australian Financial Review (and on the Bendigo Bank website) that
"Bendigo and Adelaide Bank has become the first major bank to publicly oppose investing in coal and gas projects, joining a number of big super funds making similar moves."