Concerning the topic of sustainable finance, what would be the implications of divesting from fossil fuels for voyage. Write an article on this topic in 150 words.
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Answer:
Fossil fuel divestment or fossil fuel divestment and investment in climate solutions is an attempt to reduce climate change by exerting social, political, and economic pressure for the institutional divestment of assets including stocks, bonds, and other financial instruments connected to companies involved in extracting fossil fuels. Fossil fuel divestment campaigns emerged on campuses in the United States in 2010 with students urging their administrations to turn endowment investments in the fossil fuel industry into investments in clean energy and communities most impacted by climate change. By 2015, fossil fuel divestment was reportedly the fastest growing divestment movement in history. In April 2020, a total of 1,192 institutions and over 58,000 individuals representing $14 trillion in assets worldwide had begun or committed to a divestment from fossil fuels.