Originally published in Issues Magazine on February 5, 2014

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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