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Fossil Fuel Divestment Has Grown to $2.6 Trillion in Assets - Inside Climate News
The fossil fuel divestment movement skyrocketed in the past year as hundreds of institutions and thousands of individuals committed to selling their oil, natural gas and coal holdings, according to a new report. So far, 436 institutions and 2,040 individuals representing $2.6 trillion in assets have agreed to sell their fossil fuel investments, according to a review by Arabella Advisors, a Washington, D.C.-based consultant that works with philanthropies. It represents a 50-fold increase from...
Copenhagen set to divest from fossil fuels
Copenhagen set to divest from fossil fuels | The Danish capital will become the country’s first investment fund to sell its stocks and bonds in fossil fuels. The mayor of Denmark’s capital launches a push to withdraw the city’s £700m investment fund out of coal, oil and gas holdings » www.theguardian.com/environment/2016/jan/29/copenhagen-set-to-divest-from-fossil-fuels
California’s Senate Passes Sweeping Climate Change Legislation
The California Senate passed a package of bills to address climate change. Legislation includes a plan to divest California’s public pensions from coal. “This package of bills represents the most far-reaching effort to fight climate change in the history of our nation,” Senate President pro Tempore Kevin de León said in a statement.“These bills put California on path to sustainable economic growth, while also protecting the health of our communities.”
Leading health charities should divest from fossil fuels, say climate scientists
Leading health charities should divest from fossil fuels, say climate scientists. Gates Foundation and Wellcome Trust risk losing moral authority, say researchers including ‘hockey stick’ graph originator Michael Mann. Photo: Melinda Gates speaking at the New York Public Library | The Guardian, 23 May 2015
Fossil fuel divestment is rational, says former Shell chairman
Fossil fuel divestment is rational, says former Shell chairman. Mark Moody-Stuart points out that oil companies have called for an effective price on CO2 emissions for the last 15 years but done little to make it happen. He laments ‘remarkably little progress’ by oil industry on climate change in last two decades and says divestment is ‘rational’ response
Stanford professors urge withdrawal from fossil fuel investments
Three hundred professors at Stanford University in the U.S., including Nobel laureates and this year’s Fields medal winner, are calling on the university to rid itself of all fossil fuel investments, in a sign that the campus divestment movement is gathering force. | The Guardian, 11 January 2015
2014: Riding a Rocket, Divestment Movement Gains Momentum - Inside Climate News
2014: Riding a Rocket, Divestment Movement Gains Momentum | The notion that most of the fossil fuel reserves on company balance sheets must stay in the ground—stranded—is no longer unthinkable | Photo: Activists from the group 350.org protest outside the New York State Comptroller's office in Manhattan in March 2014 urging divestment from fossil fuels. Credit: Adam Welz
Catherine Donnelly Foundation to divest Fossil Fuels from its investment portfolio
Canadian foundation to divest fossil fuels from its investment portfolio | At a recent meeting, the Catherine Donnelly Foundation Board unanimously agreed that it would no longer make direct investments in any of the 200 global, publicly-traded companies with the largest coal, oil and gas reserves as listed in the Carbon Tracker Initiative’s “Unburnable Carbon” report. The board determined that a “business as usual” approach is not sustainable.
Investors question forecasts from ExxonMobil and other oil companies
Investors question forecasts from ExxonMobil and other oil companies | Investors are pressuring fossil fuel companies to account for climate change in business strategies. Yet many still forge ahead as if little has changed. | The Guardian Sustainable Business, 12 December 2014
Can Fossil Fuel Divestment Prevent The Carbon Bubble From Bursting?
YES!! "More than 400 colleges, cities states, religious institutions have answered 350.org’s call to push for fossil fuel divestment....Divestment is the opposite of investing, entails ridding a portfolio of stocks, bonds, or investment funds with moral and ethical risks...On Tuesday, the San Francisco Board of Supervisors unanimously passed a resolution calling on the San Francisco Employee Retirement System (SFERS) to divest over 583 million from fossil fuel corporations."
Fossil fuel investing a risk to pension funds, says Ed Davey
Fossil fuel investing a risk to pension funds, says UK Energy secretary Ed Davey. He says action to tackle climate change could make fossil fuel companies the “sub-prime assets of the future”. The energy secretary said he wanted financial regulators to focus “on the risk that may well be under-assessed and undervalued in terms of investment in fossil fuels”.