"By focusing on pressure campaigns against private actors with no direct effect on the fossil fuel industry, well-intentioned people inadvertently delay the necessary struggle to win and engage state power to phase out the extraction and production of fossil fuels.". . . . "Indeed, doing so buys into the neoliberal logic that government can do nothing when, in fact, only government can shut down the fossil fuel industry."
Despite pledging to reach net-zero greenhouse gas emissions, Canada’s Big 5 banks have invested over $1 trillion in coal, oil and gas companies since 2016, upping the risk to the Canadian economy as the energy transition unfolds.
This dire forecast may be overly pessimistic. Unfortunately, it's consistent with the continuing history of market economics blocking most attempts at increasing social-economic planning.
