More Than 1,000 Institutions Are Now Divesting From Fossil Fuels
The global divestment movement has celebrated an important milestone this week as it now boasts more than 1,000 institutions around the world worth almost $8 trillion which have committed to divesting from fossil fuels.
Global grassroots climate movement 350.org announced on Thursday that, with the announcement at the end of November by France’s public sector pensions manager Caisse des dépôts et consignations (CDC) that it would no longer invest in companies that make more than 10% of their business from coal, the total number of institutions committing to divestment had reached 1,000. In addition to CDC, three other commitments helped push the movement over the 1,000 mark, including AG2R la mondiale, Australian Vision Super Fund, and Brandeis University.
“This movement started to send a clear message to the fossil fuel industry that we would not sit by while they profited by selling fuels that cause climate breakdown. It’s not just about the bottom-line, it’s also about their reputations in the public square. The scale of this movement shows that selling products that you know cause climate change is not acceptable, and nor is investing in them.”
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More Than 1,000 Institutions Are Now Divesting From Fossil Fuels | CleanTechnica The global divestment movement has celebrated an important milestone this week as it now boasts more than 1,000 institutions around the world worth almost $8 trillion which have committed to divesting from fossil fuels |