Today’s publication in the journal Climatic Change by Richard Heede on Tracing anthropogenic carbon dioxide and methane emissions to fossil fuel and cement producers, 1854-2010 provides a robust scientific basis for motivating fresh thinking and dialogue about responsibility for taking action to address climate change.
As Congress considers scaling back or abolishing U.S. rules that mandate the use of renewable fuels, it has the full-throated support of the petroleum industry — with one major exception.
BP, one of the world’s biggest oil companies by revenue, is part of a joint venture with DuPont that is set to start producing a new alternative fuel by the end of the year. In order to preserve a market for that fuel, its officials are busy in Washington trying to persuade lawmakers that the current system doesn’t need an overhaul.
San Francisco took a symbolic step Tuesday toward ridding its retirement holdings of investments in the biggest fossil fuel companies, even if it may be years before divestment is realized.
The Board of Supervisors unanimously passed a resolution by Supervisor John Avalos urging the Employees’ Retirement System to divest about $580 million in holdings from the top 200 fossil fuel companies. The resolution calls for the system to stop any new fossil fuel investments and complete divestment within five years.