If you haven’t heard about the growing campaign for fossil fuel divestment, and what it means for both your retirement funds and for the global economy, it’s time to pay attention – because now even the World Bank is on board.
At the recent World Economic Forum in Davos, World Bank President Jim Yong Kim called for stronger government action to:
divest and tax that which we don’t want, the carbon that threatens development gains over the last 20 years… Governments must put a price on pollution… through either taxes or market-based instruments.
Dr Kim also argued that taking climate change risks seriously is something all prudent investors – especially those in business – should be doing by now:
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