Not exact matches
The
fossil fuel divestment campaign began on university campuses in 2011 but the new report reveals that concerns
over investments in coal, oil and gas have now entered the financial mainstream, with more than 80 % of the funds now committed to divest being managed by commercial investment and pension funds.
NYC Mayor Bill de Blasio and Comptroller Scott Stringer say the
divestment of roughly $ 5 billion in
fossil fuel investments out of a total of $ 189 billion
over five NYC pension funds is the largest of any municipality in the United States to date.
There are already
over 30 groups working for
divestment, and anyone anywhere can get campaigning with their local community to kick
fossil fuels out of our councils.
In the case of
fossil fuels, the carbon bubble effect due to stranded assets has motivated some
divestment activity, in addition to the ethical / survival concerns
over increasingly serious climate impacts due to
fossil fuels consumption.
Energy has become a contentious and politicized topic, spurring activism, whether it be the
fossil fuel divestment campaign, Keystone pipeline protests, or concern
over wind turbine harm to birds.
If you share a fundamental moral outrage
over this absurdity, join us this summer and beyond as we use organizing, NVDA,
divestment campaigns, and transformative pilot projects to stop new
fossil fuel projects, shut down old ones, and build our future at the human scale, with human values, instead.
We've crossed this epic milestone just weeks ahead of the Global
Divestment Mobilisation, when people all
over the world will be taking action to highlight the moral urgency of cutting ties with the
fossil fuel industry and pushing their institutions to divest.
Just this May during 350.org's Global
Divestment Mobilization, thousands of people attended
over 260 events in 45 countries on 6 continents to put pressure on institutions to break their financial ties with
fossil fuel companies.
We started our own campus
fossil fuel divestment campaigns, and
over the past few years we built CarbonWA, a Washington state grassroots organization with
over 20 chapters that put forward America's first carbon tax initiative.
Founded in 2011 across just half a dozen US college campuses, the
fossil fuel divestment movement has gained remarkable traction
over a relatively short period of time.
Over our years working on climate change, we've seen youth on Parliament Hill, in the streets of cities across Canada, in the halls of United Nations climate talks, and on campuses across this country organizing for
fossil fuel divestment.
So news, reported
over at Business Green, that Norway's government is reviewing a
fossil fuel divestment plan is an extremely big deal indeed.
Faust argued that
divestment from
fossil fuels would hurt the bottom line for Harvard's endowment, but an Associated Press analysis showed that
fossil fuel free endowments would have a better rate of return
over the past decade.
The
fossil fuel divestment campaign began on university campuses in 2011 but the new report reveals that concerns
over investments in coal, oil and gas have now entered the financial mainstream, with more than 80 % of the funds now committed to divest being managed by commercial investment and pension funds.