EnergyWatch

Climate activist warns against divestment of black assets

One of the founders of Engine No.1, an activist organization, states that simply divesting fossil fuel investments does not help the world's energy consumption become more sustainable.

Photo: LUCAS JACKSON/Reuters / X90066

It is dangerous to simply divest black assets in favor of green ones, and more focus needs to be placed on transitioning companies, says Chris James, co-founder of activist organization Engine No. 1, Danish financial media Finans reports based on a presentation at COP26.

Earlier this year, Engine No.1 gained three seats on the board of ExxonMobil Corporation, which does not have any plans to change its business.

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