Tag: fossil fuel divestment
Even amidst the global economic downturn, fossil fuel financing numbers were higher in 2020 than 2016.
“This decision aligns with Rutgers’ mission to advance public health and social justice.”
Author, environmentalist and 350.org co-founder Bill McKibben says the Rutgers divestment decision is “a big deal,” especially as it happened at one of the oldest universities in the United States.
The OCC’s new rule could stunt divestment campaigns by requiring major banks to justify each individual decision to regulators using “quantitative, impartial risk-based standards established by the bank in advance.”
The University of Cambridge announced it will "remove all direct and indirect investments in the fossil fuel industry from its £3.5 billion endowment fund by 2030."
It appears it’s just cutting its losses on money-losing endeavors like fracking in America, tar sands oil production in Canada, and frontier exploration by U.K. companies in Africa and South-East Asia.
To advocates who have been involved with both efforts, the No Fossil Fuel Money Pledge represents the extension of divestment’s logic into the political sphere.
“To have a fighting chance to combat catastrophic climate change, we must phase out fossil fuels.”
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