| 開催日 | 2022年11月22日 |
|---|---|
| スピーカー | マルコ・ベヒト（ブリュッセル自由大学教授 / ECGI） |
| コメンテータ | 古沢 広祐（特定非営利活動法人「環境・継続社会」研究センター代表理事 / 國學院大學客員教授） |
| モデレータ | 宮島 英昭（早稲田大学教授 / RIETIファカルティフェロー） |
| ダウンロード/関連リンク | |
| 開催言語 | 英語 |
| 開催案内/講演概要 | Divestment is considered inferior to engagement because it has a small direct effect on stock prices, and it negates voting power. Paradoxically, fossil free divestment pledges can be a complement to shareholder engagement. We show that go fossil free is an economic narrative that has an impact beyond the actual amounts divested. It is a simple story with a core contagious element that stigmatises target companies. It puts pressure on corporate boards to effect change. It threatens the social licence to operate and increases stranded asset risk. We show that the virality of divestment pledges on Twitter coincides with an increase in the carbon premium and a higher cost of capital. Risk averse investors should divest from carbon out of self-interest, reinforcing the narrative. Activists were right to campaign for divestment pledges from renowned institutions and individuals. |
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