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:
Related documents
Between the Lines Newsletter
The biggest stories and the best analysis from the team at the Australia Institute, delivered to your inbox every fortnight.
You might also like
Colombia fossil fuel meeting presents more gas policy headaches for Australian government
While dealing with political problems over gas in Australia, federal government representatives are also attending the world’s first meeting to transition away from fossil fuels.
One Nation’s rise gives progressive voters unexpected power in ‘safe’ Coalition seats
The rise of One Nation creates a surprising opportunity for progressive voters.
Good policy is a choice | Between the Lines
The Wrap with Greg Jericho Governments can change the country for the better or worse. Failure to act for 26 years on housing affordability has left many Australians renting for most of their adult lives and led to for the first time since WWII, most Australians in their early 30s not owning their own home.