[brownkonas]

I can't help but remember: past results do not indicate nor guarantee future returns.

Unless someone can un-convince me of general macro-economics, not investing in fossil fuel companies will lead to depression of the fossil fuel market and incentivize more relatively lucrative opportunities. The companies of the past only had the means of production of the past, the companies of the future have access to non-fossil fuel dependent energy.

[H8crilA]

I imagine there's enough capital to take over the divested amounts. Warren Buffett has no trouble investing in oil (e.g. the recent Occidental/Andarko merger, he got some juicy preferred shares out of that). And I'm sure he's not alone.

Taxes/limits, we need that on carbon. The economic status quo on the subject is also the most obvious response: pay for the externality you're causing when burning carbon. EU's limits system (cap-n-trade) is already there and has been for many years, can be plugged into a global CO2 emissions market. This should eventually extend to cars, airplanes, ships, steel, concrete, home heating, whatever - even the farting cows.

Either that or solar geoengineering.