One way or another, the fossil fuel industry seems to be destined to shrink away. A combination of technological advances and climate policies are going to drastically reduce the global demand for fossil fuels over the course of time. New research shows that the demise of the fossil fuel industry will have profound consequences.
The Paris Climate Agreement seeks to reduce global carbon emissions. The nearly 200 countries who signed it have pledged to reduce their own emissions within their borders. And therein lies the rub: the agreement says nothing about the impact their products have across the world. For some countries, the problem is not so much the emissions they produce; it is those they export.
Colleges and universities are bustling with activity. Among the conversations on campus: the call from students to sell endowment investments in the fossil fuel industry. Stanford has eliminated its coal investments, and a small number of other universities have divested to varying degrees.