It artificially deflates the demand for equity in fossil fuel companies. Which theoretically would result in lower willingness to invest in fossil fuel ventures

It artificially deflates the demand for equity in fossil fuel companies. Which theoretically would result in lower willingness to invest in fossil fuel ventures. But these companies already exist, and artificial deflation of their stock price won't keep people from fueling up their cars. I think a better strategy would be conditional investment tied to reduction in emissions. Have a mechanism to buy $X stock at a higher price in exchange for a power company to replace a coal plant with a gas one, or replace a gas plant with a solar farm.