Public Resource
Time to Put the Fossil-Fuel Industry Into Hospice
Andrew J. Hoffman and Douglas M. Ely. Stanford Social Innovation Review
If humanity is to survive the climate crisis, we must manage a just and orderly transition away from fossil fuels. Acknowledge the full scope of the problem. Recognize the limited scope of economic policy solutions. Accept that substantially reducing greenhouse-gas emissions presents an existential challenge for the industry. We face the challenge of managing “compassionate destruction,” in which we guide all the complex and expansive elements of the fossil-fuel sector through a just and orderly transition to a carbon-free economy. Bring about the end of the entire sector through corporate collaboration. Protect workers and avoid labor flight during transition. Overcome political and social resistance to change. Account for the full scope of the financial impact of the transition. Control the fate of products both used and unused. Protect indirect workers in related industries. Maintain justice and equity for all communities. Decommission, remediate, and repurpose dedicated infrastructure. Leverage the power of government. Overhaul business education as if people and the planet really matter.