Connect with us

Hi, what are you looking for?

Jewish Business News


UN’s Jeffrey Sachs Says Divest From Fossil Fuels

The only way companies can be influenced to change their businesses if there is no more profitable way they can do business.


Jeffrey Sachs, director at the U.N. Sustainable Development Solutions network and special adviser to U.N. Secretary general Ban Ki-Moon, says stocks of companies working with fossil fuels should not be bought, and those who have them in their portfolios should divest.

Sachs wrote a very strongly worded Opinion piece, published in LiveMint. He said proposed a solution that may sound draconian but is stated in no-nonsense language that unless fossil fuels are curbed dramatically and completely phased out by 2070, “the world will face unacceptable risks from human induced global warming.” 

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

The only way companies can be influenced to change their businesses if there is no more profitable way they can do business. “Divestment is one answer, ” Sachs writes. If these companies are “starved of investment capital, ” they will be forced to make the change away from fossil fuels. In addition, one who is concerned with global climate change will likely feel uncomfortable holding an oil or gas company’s shares in an investment portfolio. This discomfort is expressed by many university students whose institutions of higher learning have oil and gas companies in their portfolios. Sachs advocated student activism to spur on divestment from such companies.

According to Pensions & Investments, Sachs also said investments should be made in developing countries to create cleaner fuel alternatives. Lady Lynn Forester de Rothschild added at a conference that “When we talk with companies, we have to be very clear with them that we care about issues like their carbon footprint, ” according to P&I.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Copyright © 2021 Jewish Business News