Sentences with phrase «divest fossil fuel assets»

As of December of 2016, investment funds worth more than $ 5 trillion have now committed to divesting their fossil fuel assets.

Not exact matches

But having divested most of the family's fossil fuel assets in the late 1990s to set up private conglomerate Coril Holdings Ltd., Ron may not have been feeling the same pain as those in the audience.

Over a year which has seen large banks halt funding for fossil fuel projects, major institutions divest from oil, gas and coal holdings, and oil companies snap up power and renewables companies in a bid to diversify their asset base, research published today by the UK Sustainable Investment and Finance Association (UKSIF) and the Climate Change Collaboration suggests nervousness over climate risk has shot up in financial circles.

At the United Nations COP21 climate conference of 2015, RBF was touting a new report that investors across the world with $ 3.4 trillion in assets have pledged to divest from fossil fuel companies.

A group of 17 philanthropic groups including the Wallace Global Fund and John Merck Fund with a combined asset base of about $ 1.8 billion has vowed to divest from fossil - fuel companies and invest in clean - energy technology.

Says the report: «Increasingly, worldwide regulations are leaving fossil fuel investments as stranded assets with pension funds heeding the call to divest from fossil fuels and invest in green technologies.

New York City is suing five of the largest oil companies over the billions of dollars it spends protecting the city from the effects of climate change, and it plans to divest its pension funds» $ 5 billion in assets involving fossil fuel producers, Mayor Bill de Blasio announced Wednesday.

Last year, he pledged to divest all his personal assets from fossil fuels (as well as his foundation's assets) because «we must transition to a clean energy economy that does not rely on fossil fuels.»

Over the past five years, and growing dramatically leading up to and post-Paris COP 21, a movement of institutional and individual investors representing more than $ 3.4 tn in assets under management have divested a portion of their fossil fuel investments and committed to divesting the balance in the next five years.

California's two biggest pension funds lost more than $ 5 billion (U.S.) since June 2014 because of the declining value of their fossil fuel holdings, while Norway's massive sovereign fund, which has already divested many of its fossil fuel assets, still lost $ 40 billion between July and August, partly because of falling oil prices.

Yesterday's announcement is a big step forward, raising hopes that the Vatican itself will soon commit to divest its assets from fossil fuels.

By divesting their assets from fossil fuels, they are reducing the ability for big oil, coal and gas companies to develop new extraction projects, while citizens worldwide are rising to stop these projects in their communities,» said Yossi Cadan, Global Divestment Senior Campaigner at 350.org.

What are the goals of this movement to get organizations, particularly universities, to divest their assets in fossil fuel companies?

On the risk side, divesting is about not getting stuck holding stranded fossil fuel assets that can not be burnt if the world is to adhere to a given carbon budget, a topic on which Mark Carney, governor of the Bank of England, has expressed concerns in a landmark speech to global insurer Lloyd's of London.

On the East Coast, the City of New York announced plans to divest its pension fund of fossil fuel assets, making it among the largest of investors to divest.

Asset managers operating in Sweden will have to disclose the climate impact of their investments under new proposals, which come as the fund industry faces mounting pressure to divest from fossil fuels.

Nearly 700 institutions and 58,400 individuals representing at least $ 5 trillion in assets have divested from fossil fuel companies, one group promoting and tracking the divestment movement reported in December.