Gas Investments: Oil Companies and Material Risk

gas investments: But it also now includes the first nation to divest, Ireland, major cities including New York and key medical organisations, according to The Guardian. Major oil companies such as Shell have this year cited divestment as a material risk to its business. The sell-off of coal, oil and gas investments is led by the insurance industry, with 3tn of funds. Fossil fuel divestment began on US university campuses in 2011 but now spans 37 nations around the world. They also say fossil fuel companies are risky investments as global action on emissions gets tougher. Supporters of divestment say existing fossil fuel resources are already far greater than can be burned without causing catastrophic climate change and that exploring for and producing more fossil fuels is therefore morally wrong. (news.financializer.com). As reported in the news.