“It is estimated by 2050 there will be between 200 million and 1 billion migrants due to the effects of climate change”
Climate change is directly tied to peace. If unabated, it will lead increasingly to severe food and water shortages, which worsen or cause territorial conflict. It will also lead to coastal flooding, which means mass migrations and increased conflicts as nations grapple with an influx of climate refugees, who currently are not protected under any international law. According to the International Organization for Migration it is estimated by 2050 there will be between 200 million and 1 billion migrants due to the effects of climate change.
“30% of world population will not have access to water by the year 2030”
With the negative effects of climate change on political and economic stability around the world, it is imperative that countries and international bodies seek to both address and prepare for the future. The current administration, with the complicity of Congress, has placed climate change as a low priority. Meanwhile, almost every single country is pushing ahead to develop an economy geared towards the future where climate change is real. Without preparation we risk falling behind both neighbors, partners and competitors. This is why CAPA is taking action to convince lawmakers that climate change must be addressed head on.
Two Financial Strategies to Reduce Fossil Fuel Carbon Emissions that are Devastating Our Planet!
Now that the U.N Climate Conference in Glasgow, Scotland is over resulting in some positive achievements and as we await the passage of the $1.75 trillion Build Back Better legislation proposed by President Biden, we would like to review two immediate initiatives to reduce fossil fuel carbon emissions.
The first is to continue to encourage organizations, both non-profit and profit to divest from fossil fuel companies.
The second is to encourage you to be active in a national campaign to help stop American banks from funding the production and expansion of fossil fuels like coal, oil and gas, the prime causes of the global climate crisis. The following is a brief review of present activity in each of these areas.
Bill McKibben, American environmentalist and founder of 350.org, is the person primarily responsible for starting the divestment from fossil fuels movement in 2012. Two years later, 181 institutions, mostly smaller universities, religious organizations and non-profit organizations with total assets of $50 billion dollars, had divested from fossil fuels. Since that time, the divestment movement has mobilized more than 1,485 institutions with combined assets of $39 trillion dollars to divest from fossil fuels. In the leadup to COP26, there was a flurry of new activity as more institutions joined this divestment movement. First in line, was the University of Toronto, encouraged by one of their most famous graduates, Naomi Klein. Others followed, Harvard University, The McArthur Foundation, The Ford Foundation, and Carnegie Foundation, heirs to Standard Oil, the oldest and largest the oil corporation. Also divested Boston University, Creighton University, Notre Dame University and Loyola University of Chicago. In addition, the Catholic Archdiocese of Glasgow, Scotland on the eve of the COP26 conference, announced that they too were divesting from fossil fuels. The total divestment movement from fossil fuels has now reached $40 trillion dollars. This is a significant victory for the divestment movement, and is having a big impact on the growth of the fossil fuel industry and has increased their industry’s financial investment expenses. Also, from a historical perspective the divestment movement of South Africa was one of the primary causes for the collapse of their apartheid government.
However, much more needs to be done to stop the financial investments that the Wall Street banking organizations provide the fossil fuel industry and enable them to continue to expand their drilling and pipeline operations. Since the Paris Climate Agreement was signed in 2015, U.S. Banking organizations have provided $4 trillion dollars in financing to the coal, oil and gas industry.