By Money speaks louder than…
Oh, yeah–just about everything, including a renewable energy future or attempts to reverse climate change.
In a not so surprising, yet utterly short-sighted and outdated move (circa 20th century, not new Millenium), Shell Oil has decided to abandon all their investments in renewables such as solar and wind energy, and transfer that business to what they have deemed more economically promising. What have they decided to invest in? Agrofuels–industrial scale biofuels.
Linda Cook, Shell’s executive director of gas and power, said: “If there were renewables [which made money] we would put money into it.” She went on, “We do not expect material investment [in wind and solar] going forward.”
Despite an ever-growing and indisputable range of scientific evidence that links agrofuels to massive deforestation, increased food prices, and establishes that over their lifecycle, agrofuels are in many instances more greenhouse gas emitting than petroleum (i.e. climate negative), Shell has chosen to put their money where their mouth is–in an industry that at first glance appears to be a good business proposition, but will do nothing in the short or long term to combat our climate crisis, or addiction to fossil fuels.
Now, more than ever, as we work to reduce our own consumption, we must also hold our government and businesses accountable to invest in the solutions and alternatives that are tried, tested and true–solutions that will turn the tide on the serious situation we all face. Investment in real solutions are a better business proposition, and investments that harm the planet and people are a liability. It’s our job to make sure that Shell, its shareholders, and every other company out there understands this.