A couple of days ago I went along to the Hereford River Carnival: lots of great floats, stalls and good community fun for all the family. There was a sort of festival within a festival as New Leaf had created the h.Energy village which featured a number of local organisations advocating greater sustainability. I stopped and chatted with lots of old friends and met some new faces. One of the groups with a stall was the new SHIFFT group, which stands for Stop Herefordshire’s Investments in Fossil Fuels Today. It’s part of the rapidly growing global movement lobbying for disinvestment from fossil fuels.
A few days earlier I went up to Llandrindod Wells to have a look around and talk to the people at Riversimple and see their amazing hydrogen fuel cell car. Robert Llewellyn, the actor and comedian from Red Dwarf fame, also happened to be visiting, making an edition of his Fully Charged video blog. I think we were both suitably impressed with what a breakthrough this car is. I’ve sung its praises a number of times on this blog. Riversimple currently are crowdfunding. This is to raise equity, so has a fairly high degree of risk involved, but also the potential to buy into an early stage start-up company which might well be a very lucrative investment. It is also of course just about as ethical an investment as I can imagine. They’ve kept the minimum investment at just £50 and would love to have many thousands of small investors.
Globally vast sums of money are flooding out of the fossil fuel sector, in part driven by the ethical arguments about the need to keep fossil fuels in the ground to prevent the worst ravages of climate change, and in part due to the realization that these reserves are very likely to become stranded assets, so undermining the perceived value of oil, gas and coal companies. The money is beginning to flow into the renewables sector in vast amounts. I mentioned in my last blog about the £229 billion that went into renewable electricity generation last year. On top of all this wind and solar comes the whole raft of cleantech innovation start-ups such as Riversimple. I do hope they achieve their crowdfunding objective, initially of one million pounds, with a further two similar sized tranches following on.