Forget the candy hearts, chocolate, the local Cineplex and bistro this weekend. St. Valentine’s Day somehow has been hijacked by Global Disinvestment Day, which means you should protest fossil fuels and encourage shareholders to submit proxy resolutions to leave oil, coal and gas resources untapped. Your significant others are guaranteed to love it because … Gaia.
Behind this movement are nominally religious shareholder activists such as As You Sow, as well as the World Council of Churches, filmdom’s The Hulk (Mark Ruffalo) and extreme-environmentalist rabble rousers Bill McKibben and Naomi Klein. Figuring out the endgame of divestment advocates isn’t difficult – Naomi Klein laid it all out for us in a recent interview in Grist:
Another point I would make, [about] carbon pricing, is that when we make the argument that this is a rogue sector, that their business plan is at odds with life on earth, we are creating an intellectual and political space where it becomes much easier to tax those profits, to increase royalties, and even to nationalize these companies. This is not just about the fact that we want to separate ourselves from these companies, it’s also that we have a right to those profits. If those profits are so illegitimate that Harvard shouldn’t be invested in them, they’re also so illegitimate that taxpayers have a right to them to pay for a transition away from fossil fuels, and to pay the bills for a crisis created by this sector. It’s not just about dissociating ourselves from their profits, but potentially getting a much larger piece of them. [emphases added]