The desired end state for fossil asset holders is full citizenship in a social democracy such that any business losses they endure, having taken the business risk of fossil fuel exposure, leave them less well off but full and secure citizens. It is fine they should lose money.

This isn’t a utilitarian argument. On the contrary. Ours would be an unjust cause if, for example, all XOM shareholders were to be enslaved or executed or driven into penury.

Demanding they accept losses commensurate with risks they sought for profit (and historically profited from!) is demanding nothing other than equal treatment. Many other investors find their investments don’t work out. Fossil fuel political and environmental risk is well telegraphed.

The only way any kind of capitalism can be a just cause is if it is attached to robust social democracy. A capitalism whose losers are immiserated plainly fails our criterion.