Matt McDonald writes in The Conversation (24.2.16) that, with power companies showing increasing willingness to invest in renewables and alternative energy sources, the writing could be on the wall for coal.
‘Even before Paris, it was the divestment movement that seemed most promising in shifting the often toxic politics of climate change. Campaign groups such as 350.org have promoted divestment as a way to hit fossil fuel companies where it hurts unless they acknowledge the realities of the carbon situation.
‘The market can be a fickle beast. It certainly cannot be relied on to provide us with a moral compass on climate change. Avoiding dangerous climate change still needs both political leadership and civil society mobilisation.
‘But the market is responsive. And the power of international agreements like Paris, along with divestment movements, may ultimately be the capacity to send messages that companies concerned with long-term profitability simply can’t afford to ignore.’