Fossil-fuel divestment is not the only option for ethical investors | Letters

Thomas Piketty is right to draw attention to the importance of investors taking action on climate change (Piketty urges investors to divest stakes in fossil fuels, 14 November). My foundation has divested. But divest/invest are not the only options for investors, many of whom cannot quickly divest from all fossil fuels.

We need concerned investors to use their stakes in fossil-fuel companies, and also in companies at risk of diminishing value due to climate change, to change company behaviour. They can do this by requiring them to develop and share their plans for transition to a low-carbon economy. Mark Carney, governor of the Bank of England, has given a lead on this and thoughtful companies will already be working on such plans. Investors can and must give the process the momentum it badly needs to ensure that companies across the board reduce their emissions in the five to 10 years we have left before irreversible climate change takes hold.
Carolyn Hayman
Chair, Preventable Surprises