Fossil Fuel Financing and how well it is backed up by the rich and the greedy

Most of the corporate companies in this world have shown time and again that they only mouth their concerns for the planet’s environment but their sight is on profits and profits alone; at any expense or cost. A few months ago, J.P. Morgan Chase faced a shareholder resolution that was historic and it was to end their financing for the expansion of fossil fuels. What happened? Their management opposed it vigorously. In the Paris agreement on Climate Control, signs were shown that we have a potential to limit climate change to 1.5°C objective. Drastic changes have to take shape, starting right now. It can start with reduction and eventual end to the expansion of fossil fuels. Once again, the pointer is towards J.P. Morgan Chase as the largest funder of fossil fuels and for being one of the top financers of Exxon. Will they take any steps? Not likely. Anything to come about nature’s preservation takes a backseat to wicked greed for moolah. These are critical times as far as climate control is concerned. Each action of ours or lack of action may have life changing consequences for everyone on earth. Aren’t we already experiencing the damaging effect of climate change everywhere? We see forest fires and heat waves, crop failures and floods, tornadoes and drought. The value of damage is in billions of dollars every year with thousands of people dying, worldwide. While this is happening, bankers and insurance companies are busy aiding climate destruction by pouring billions of dollars in the finance of fossil fuels in the past several years. Isn’t it time to hold such companies accountable for their direct hand in climate destruction? Companies have to start looking on how to clean up their supply chains which are leaving a big trail of damage, ranging from the boreal forests of Canada to the rainforests of Amazon and Indonesia. It is time to tell such companies to cease their land theft, deforestation and abuse of environment. Many big corporates still continue to source such commodities that are a risk to forests such as producers of palm oil and paper from most indifferent suppliers. Some of them have connections to land theft on an indigenous basis, disturbing habitat of orangutans and leading to a chain of violent activities in places like Indonesia. These people are putting the earth’s future at risk by destroying the rainforests that cannot be replaced. They are also destroying the climate and local and indigenous communities of people. It is time to drill some sense into this world and the wicked rich and the corporate to stop their deforestation activities and abuse of human rights.