To: City Government
Divest Athens, GA from Fossil Fuels
1. Immediately freeze any new Athens-Clarke County investments in fossil fuels.
2. Divest Athens-Clarke County from direct ownership and any commingled funds that include fossil fuel public equities and corporate bonds with 5 years.
3. Divest Athens-Clarke County holdings from all fossil fuels within 5 years. Divestment will include, but not be limited to, holdings in oil companies, coal companies and other companies whose business model is at odds with Carbon Stabilization.
Why is this important?
Climate Change is real... and we are on a crash course with reality. It is our duty to ensure that there is a habitable world to leave for the future of humanity... and all species on this earth. The fuel in our fossil fuel reserves is actually much more than is safe to burn to keep global warming below the 2 degrees that scientists say is safe. And, yet, we continue to look for more sources to support our dirty energy needs rather than invest in renewable energy sources. See this link for details: http://www.rollingstone.com/politics/news/global-warmings-terrifying-new-math-20120719
As we respond to Climate Change, some companies will adapt and prosper. Other companies, whose business model is at odds with stabilizing and reducing carbon emissions represent latent weakness in their business model. These businesses will no longer be wise investments, and a fiduciary duty to City investment funds will increasingly require less investment in these companies, rather than more.
Companies heavily invested in fossil fuels will have a structural problem adapting to a Carbon Constrained World. Why? Because they count as part of their company wealth the underground oil, gas and coal deposits which, if released into the atmosphere, will cause greater and greater climate change.
The sooner the City divests from these companies, the better.
And beyond it being good business, we need to show the future generations that we care about the planet, and the people and species that share it! Think about your children, grandchildren, or even the animals that live on this earth. It is our duty to protect the earth and make sure that it is habitable in the future!
