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Whoah! Former Chairman of Shell Oil Calls for Divestment from Fossil Fuels & Carbon Taxes
Fossil fuel divestment is rational, says former Shell chairman
By Damian Carrington
The former chairman of Shell has said that investors moving their money out of fossil fuel companies is a rational response to the industry’s “distressing” lack of progress on climate change.
Sir Mark Moody-Stuart, who spent almost four decades at Shell and rose to be its chairman, also said the big oil and gas companies had been calling for a price to be put on CO2 emissions for 15 years but had done little to make it happen.
His striking remarks are the most supportive of divestment made by any senior figure in the fossil fuel business. They will also be chastening for Shell. The company is currently positioning itself to be part of the solution to climate change rather than part of the problem, but faces criticism of its Arctic and tar sands operations.
By Damian Carrington
The former chairman of Shell has said that investors moving their money out of fossil fuel companies is a rational response to the industry’s “distressing” lack of progress on climate change.
Sir Mark Moody-Stuart, who spent almost four decades at Shell and rose to be its chairman, also said the big oil and gas companies had been calling for a price to be put on CO2 emissions for 15 years but had done little to make it happen.
His striking remarks are the most supportive of divestment made by any senior figure in the fossil fuel business. They will also be chastening for Shell. The company is currently positioning itself to be part of the solution to climate change rather than part of the problem, but faces criticism of its Arctic and tar sands operations.
MORE:
http://www.theguardian.com/environment/2015/jun/04/former-shell-chairman-advocates-fossil-fuel-divestment
http://www.dailykos.com/story/2015/06/06/1391072/-Whoah-Former-Chairman-of-Shell-Oil-Calls-for-Divestment-from-Fossil-Fuels-Carbon-Taxes
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