Contesting Corporate Power: Exploring Why Individuals and Organizations Divest from Fossil Fuels Companies and What Social Factors Influence Them.
Market forces are at the heart of this business-as-usual model, but could they also be its “Achilles heel”? Could divestment from fossil fuel companies contribute, through financial mechanisms, to a transition toward cleaner sources of energy? Making a judgment in this matter is not easy because the share prices of the companies and the prices of fossil fuels are not governed by the same dynamics. Moreover, the motivations of those who decide to divest from fossil fuel companies may be ethical, financial, or a combination thereof. This paper attempts to study and clarify these motivations and understand which social factors influence the decisions of individuals and organizations to divest from fossil fuels. Imagining a future without fossil fuels could open the door to substantial social and economic innovation.