80 economists are calling for no longer invest in fossil fuels

News 7 December, 2017
  • AFP


    Thursday, December 7, 2017 08:08

    Thursday, December 7, 2017 08:14

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    PARIS | Near 80 economists from 20 countries, including the American Jeffrey Sachs, James Galbraith, called the ” end investments in fossil fuels “, in a statement launched by the NGO 350.org and published on Thursday before the climate summit Tuesday.

    “We call for the immediate end of all investment in new projects of production and infrastructure of fossil fuels, and encourage a significant increase in the funding of renewable energies “, says the statement, signed also by the French Patrick Criqui, Tim Jackson (university of Surrey), Charles Palmer (London School of Economics), the Swedish Thomas Sterner, the Japanese Takeshi Mizuguchi and Shuzo Nishioka or even the ex-minister and economist Greek Yanis Varoufakis.

    “The French president and other leaders have already expressed their views on the need for increased financial support for climate solutions, but they have not said anything on the other side of the equation: the funds that continue to be granted to new projects of production and infrastructure, coal, oil and gas “, adds the text.

    “It is time that all global economic players are turning fully towards renewable energy secure “, and ” development institutions such as public and private investors have the urgent responsibility and a moral obligation to show the way “, says the appeal, referring to an “inevitable transition” and the opportunities that are linked to it.

    “The investor community has the power to create the conditions to make this change possible “, underline the signatories, callers to ” build a healthy economy while protecting the employees of the energy sector, the communities and taking into account the ecological limits of one planet finished “.

    The gas emissions to greenhouse effect, the origin of climate disruption is unprecedented, are related to the three-quarters to the burning of fossil fuels.

    According to scientific studies, it will be necessary to shorten the operating reserve in progress if the world wants to stay below the critical threshold of 2°C of warming.

    Emmanuel Macron organizes Tuesday in Paris, a summit dedicated to the financing of climate policies, which will be attended by political leaders and financial institutions.

    The environmental NGOS, 350.org but also many other (France Nature Environment, Greenpeace France, Climate Action Network, Foundation for nature and man…), have called for a rally in Paris Tuesday at 08: 00, on the theme ” not a euro more for the energies of the past “.