Earth Matters: Debate question on environmental justice! Merkley introduces tough fossil fuel bills
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Earth Matters is a Daily Kos compendium of wonderful, disturbing, and hideous news briefs about the environment. • Sen. Jeff Merkley introduces aggressive proposals to ban fossil fuel investing: The Oregon Democrat on Wednesday introduced the &lEarth Matters: Debate question on environmental justice! Merkley introduces tough fossil fuel bills
Earth Matters is a Daily Kos compendium of wonderful, disturbing, and hideous news briefs about the environment. • Sen. Jeff Merkley introduces aggressive proposals to ban fossil fuel investing: The Oregon Democrat on Wednesday introduced the «Protecting America's Economy From the Carbon Bubble Act,” which would prohibit financial institutions from making new loans for or investments in fossil fuel companies or financing new fossil fuel projects. Part of the idea behind the bill, Merkley said, is to help prevent huge losses if fossil fuel prices collapse during the transition to clean energy. That goes far beyond bills other congressional Democrats have introduced to increase transparency about fossil-fuel investing and climate impacts. Merkley also introduced the »Sustainable International Financial Institutions Act,” which would mandate that the U.S. use its clout in international financial institutions to promote fossil fuel divestment. The bills follow on recent release of the Commodity Futures Trading Commission’s 196-page report, Managing Climate Risk in the U.S. Financial System. It concludes that the climate crisis “poses a major risk to the stability of the U.S. financial system and to its ability to sustain the American economy.” Said Merkley in a prepared statement, «How we invest our money reflects our values today and will drive our future tomorrow. Fossil fuel investments play a key role in accelerating climate chaos, which continues to spiral further and further out of control and claim lives and livelihoods in the process.» Read more