Climate activists around the world are condemning the high investments in coal, oil, and gas industries. According to a recent report, investors globally have a total of 4.3 trillion dollars tied up in the fossil fuel industry, with Germany also playing a significant role.

Katrin Ganswindt, who works with the environmental organization Urgewald, stated that these investments are hindering the timely transition away from fossil fuels to combat climate change. She emphasized the need to shift towards renewable energy sources and away from fossil fuels.

The report, titled „Investing in Climate Chaos,“ looked at investments from over 7500 institutional investors worldwide, with data collected in May 2024. It revealed that these investors hold bonds and stocks worth 4.3 trillion US dollars in companies involved in the fossil fuel industry, with the majority of these investments coming from US companies.

The report identified investors and asset managers from ten countries responsible for 91 percent of institutional investments in the fossil fuel industry. The top countries include the USA, Canada, Japan, the UK, India, China, Norway, Switzerland, France, and Germany. The USA alone accounts for 65 percent of these investments.

Scientists warn that the planet is on track to warm by nearly three degrees, largely due to the burning of coal, oil, and gas, which releases greenhouse gases into the atmosphere. While there was a global agreement to move away from fossil fuels at the UN Climate Conference in Dubai, environmentalists criticize the presence of loopholes in the agreement.

Despite calls for environmentally friendly investments, many investors remain committed to the fossil fuel industry. A group of investors is planning to establish a new stock exchange in Dallas, Texas, known as the Texas Stock Exchange (TXSE), as an alternative to the NYSE and Nasdaq. Major financial institutions like BlackRock and Citadel Securities are backing the project, which has already raised 120 million US dollars in capital. The TXSE aims to begin trading by 2025 and host initial public offerings starting in 2026.

The push for divestment from fossil fuels continues to grow, with climate activists urging investors to prioritize sustainable and renewable energy investments to combat climate change effectively. The transition to a greener economy is crucial in addressing the urgent climate crisis facing the planet.