More news on divestment

Longannet

Our friends in global mine workers’ union IndustriALL have published some thoughts on the need for workers to be involved in the transition to a low carbon economy, to make sure that it takes into account workers’ needs for decent jobs.

The Business Spectator reveals that 32 companies, including Glencore, are responsible for 31% of global carbon emissions. And the IMF tells us that fossil fuels are being subsidised at the rate of $10 million a minute – more than the health spending of all the world’s governments.

Ninety-five academics at the University of East Anglia have signed an open letter calling on the institution to divest from the fossil fuel industry. The University of Edinburgh has announced it will divest from three major fossil fuel firms, following protests. A study at University College London suggests that perceived Inconsistencies between UCL’s environmental policy and actions reduces staff and students’ intentions to engage in pro-environmental behaviours.

Meanwhile, the coal industry in Britain continues to shrink. Thoresby Colliery is to close in July. Ferrybridge coal power station is also  closing. This means the number of coal power stations open in the UK will fall from 10 this year to 8 next year.

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