“Fossil fuel industry still winning the investment war”, 29 Jul 2015

The campaign to convince investors not to use their money to support the extraction and use of fossil fuels is failing to gain enough converts, experts say…Senior members of asset management firms and carbon risk specialists were invited this week by a prominent British charitable foundation, Sainsbury Family Charitable Trusts, to discuss the prospects for disinvestment and the attitudes in the City of London to attempts to match investment policies with avoidance of climate change risks. They say the continued confidence of the industry in the long-term viability of coal, oil and gas − despite the plunging cost of many renewable fuels − means that the UN climate change summit in Paris at the end of the year will fall short of its aims…“The economics of renewables are already much better than we’re often led to believe. You’re better off investing $100 billion in solar photovoltaics than in Canadian tar sands.”…In September 2014, more than 360 investors managing over $24 trillion in assets urged world leaders to agree to a strong global climate deal. [Also refers to Shell]