For young people who believe climate change is the biggest challenge humans have ever faced, the time for debate has passed. Now they're aiming to hit fossil fuel merchants right in their market caps.
The Fossil Free campaign, which claims activists on 300 campuses and was kicked off by an article in Rolling Stone last summer by environmentalist Bill McKibben, is targeting primarily university endowments to stop investing in the top 200 oil, gas and coal companies.
Among the list toppers are three Russian companies (Severstal, Lukoil and Gazprom), three American (Exxon Mobil, Chevron and ConocoPhillips) and one British (BP).
Why face the uphill battle of targeting these companies when virtually everyone is to some extent dependent on the fuels they bring to market?
For Jamie Henn, communications director of Fossil Free's parent organization, 350.org, it comes down this: Scientists say a global temperature increase of more than 2 degrees Celsius (3.6 Fahrenheit) will be unsafe.
That increase will be met by the release of 565 gigatons of carbon dioxide into the atmosphere—at current projections a level that will be reached within the next 15 years.
Yet these companies' proven reserves, if exploited as planned, will exceed that amount fivefold, driving temperatures upward.
The argument goes, therefore, that it is environmentally reckless to not leave 80 percent of proven reserves in the ground. Of course, that is a thesis no coal, gas or oil company will easily be persuaded to embrace.