Divestment News

» People in US and UK face huge financial hit if fossil fuels lose value, study shows
Strong climate action could wipe $756bn from individuals’ pension funds and other investments in rich countries
By Damian Carrington, The Guardian
May 26, 2022

» As California Considers Dropping Fossil Fuels from Major Pension Funds, New Report Calls Out ‘Misinformation’ on Costs
CalPERS and CalSTRS, which oppose fossil fuel divestment legislation, have “wildly exaggerated” divestment costs, according to Fossil Free California’s latest report.
By Sharon Kelly, DeSmog Blog
May 13, 2022

» Why our continued use of fossil fuels is creating a financial time bomb
We’re investing in things that will have little value if we move off fossil fuels.
By John Timmer, Ars Technica
May 9, 2022

» Bank shareholder proposals to curb new fossil fuel lending get slim support
By Elizabeth Dilts Marshall and Ross Kerber, Reuters
April 26, 2022

» Credit Suisse investor rebellion over climate action grows ahead of annual meeting
By Simon Jessop and Brenna Hughes Neghaiwi, Reuters
April 25, 2022

» Database Shows Rich Governments Funding Fossil Fuels Over Clean Energy
“G20 international public finance is currently blocking a just energy transition, bankrolling 2.5 times more fossil fuels than clean energy.”
By Jessica Corbett, Common Dreams
April 20, 2022

» World’s Leading Reinsurer Cuts Coverage For Oil and Gas Projects
By The Energy Mix
March 30, 2022

» Companies that divest from fossil fuel could face a state boycott in Texas
By Mose Buchelle, NPR
March 15, 2022

» Healthcare Workers Call on Hospitals and Medical Institutions to Divest From Fossil Fuels
The global fossil fuel divestment campaign continues to grow, but the healthcare sector has thus far refrained from large-scale divestment. A coalition of health professionals wants to change that.
By Nick Cunningham, DeSmog Blog
March 14, 2022

» The Massachusetts pension fund is joining the climate fight
By Sabrina Shankman, Boston Globe
February 17, 2022

» Facing Texas pushback, BlackRock says it backs fossil fuels
By Ross Kerber, Reuters
February 17, 2022

» The campus divestment movement has a sophisticated new legal strategy
Students at five universities have launched a coordinated legal campaign against fossil fuel investments.
By Emily Pontecorvo, Grist
February 16, 2022

» Total’s East Africa Pipeline ‘Struggling’ To Find Financiers
The companies leading the project are “staying quiet on the crucial question of where the money will come from”, activists say.
By Maina Waruru, DeSmog Blog
February 7, 2022

» 450+ Climate Scientists Demand PR Industry Drop Fossil Fuel Clients
“To put it simply, advertising and public relations campaigns for fossil fuels must stop,” states an open letter to ad agencies and major firms.
By Andrea Germanos, Common Dreams
January 19, 2022

» Climate Justice Through Divestment
By Ray Levy Uyeda, Yes! Magazine
January 4, 2022

» ‘Historic’ NYC Pension Fund Fossil Fuel Divestment Heralded as Model for Others
One activist said this is what “every pension fund can and should” do to address the climate crisis.
By Jessica Corbett, Common Dreams
December 22, 2021

» Banks Continue To Fund Fossil Fuels Despite Climate Pledges
By Tsvetana Paraskova, Oil Price
December 6, 2021

» ‘$22-Trillion Time Bomb’ Ahead Unless Banks Drop High-Carbon Investments, Moody’s Warns
By The Energy Mix
November 28, 2021

» ‘Shame On You’: Indigenous Campaigners Demand JPMorgan End Fossil Fuel Finance
The major American bank is helping fund the Coastal Gaslink pipeline, which threatens First Nation lands in Canada.
By Phoebe Cooke, DeSmog Blog
November 11, 2021

» At McKinsey, Widespread Furor Over Work With Planet’s Biggest Polluters
A letter signed by more than 1,100 employees has called for change at the consulting firm, which has advised at least 43 of the 100 most environmentally damaging companies.
By Michael Forsythe and Walt Bogdanich, New York Times
October 27, 2021

» This Movement Is Taking Money Away From Fossil Fuels, and It’s Working
By Bill McKibben, New York Times | Opinion
October 26, 2021

» Banks Due At UK’s ‘Green’ Investment Summit ‘Financed £700 Billion in Fossil Fuels Since Paris Agreement’
Citi, JPMorgan and Barclays among “world’s biggest financiers” of oil, gas and coal at government summit on green future.
By Adam Barnett, DeSmog Blog
October 18, 2021

» Private Equity Funds, Sensing Profit in Tumult, Are Propping Up Oil
These secretive investment companies have pumped billions of dollars into fossil fuel projects, buying up offshore platforms, building new pipelines and extending lifelines to coal power plants.
By Hiroko Tabuchi, New York Times
October 13, 2021

» BREAKING: Trans Mountain Loses 16th Insurer as Industry Giant Chubb Walks Away
By The Energy Mix
September 14, 2021

» Harvard to Divest Fossil Fuels, Sets Example for Other Institutions
By The Energy Mix
September 12, 2021

» Insurers Move ‘at Light Speed’ to Limit Exposure to Fossil Industry Risk
By Amanda Stephenson, The Canadian Press, in The Energy Mix
August 24, 2021

» Central Banks Accused of ‘Dawdling’ on Climate as World Burns
“Instead of using their power to cut off finance for fossil fuels, they are making themselves busy tinkering around the edges of the climate crisis.”
By Jessica Corbett, Common Dreams
August 24, 2021

» Trans Mountain Pipeline Loses Lead Insurer as Zurich Steps Away
By The Energy Mix
July 24, 2020

» The climate is boiling. Why has Harvard still not fully divested from fossil fuels yet?
At $42bn, the Harvard endowment exceeds the combined monetary value of many small countries. But it stubbornly refuses to speed up divestment
By Kim Heacox, The Guardian
July 15, 2021

» Maine Becomes First State to Pass Fossil Fuel Divestment Bill
The state pension fund has more than $1 billion invested in companies such as Chevron, Exxon, and ConocoPhillips.
By Michael Katz, ai-cio.com
June 15, 2021

» Swiss watchdog FINMA requires banks, insurers to disclose climate risks
By Reuters
May 31, 2021

» How to get your university to divest from fossil fuels
By Siobhan Neela-Stock, Mashable
April 28, 2021

» All eight Ivy League student governments sign resolution calling for fossil fuel divestment
By Elizabeth Meisenzahl and Delaney Parks, The Daily Pennsylvanian
April 28, 2021

» As climate concerns grow, how is it getting cheaper to finance gas in the US?
By Justin Guay, Utility Dive | Opinion
April 20, 2021

» Green investing ‘is definitely not going to work’, says ex-BlackRock executive
Tariq Fancy once oversaw the start of the biggest effort to turn Wall Street ‘green’ – but now believes the climate crisis can never be solved by today’s free markets
By Dominic Rushe, The Guardian
March 30, 2021

» Big banks’ trillion-dollar finance for fossil fuels ‘shocking’, says report
Coal, oil and gas firms have received $3.8tn in finance since the Paris climate deal in 2015
By Damian Carrington, The Guardian
March 24, 2021

» Big Banks Make a Dangerous Bet on the World’s Growing Demand for Food
While banks and asset managers are promising to divest from fossil fuels, they are expanding investments in high-carbon foods and commodities tied to deforestation.
By Georgina Gustin, InsideClimate News
March 7, 2021

» Lloyd’s market to quit fossil fuel insurance by 2030
By Julia Kollewe, The Guardian
December 16, 2020

» New York State Sends a Blunt Message to Big Oil
The comptroller’s threat to pull billions from fossil fuel investments is a big victory for climate activists.
By Bill McKibben, New York Times | Opinion
December 9, 2020
Mr. McKibben is a founder of the climate advocacy group 350.org and a leader of fossil fuel divestment efforts.

» Trump Administration Accused of Trying to Bully Banks Into Financing Arctic Fossil Fuel Extraction
“Contrary to the claims of oil-backed politicians, banks don’t want to finance more drilling in the Arctic not because of some vast liberal conspiracy, but because it’s bad business,” said a Sierra Club leader.
By Brett Wilkins, Common Dreams
November 20, 2020

» Dozens of Faith Institutions Announce Divestment From Fossil Fuels
By Julia Conley, Common Dreams
November 17, 2020

» Exclusive: European Development Finance group to exit fossil fuel investments by 2030
By Nina Chestney, Kate Abnett, Simon Jessop, Reuters
November 5, 2020

» Church Of England Dumps All ExxonMobil Stock
By Charles Kennedy, Oil Price
October 8, 2020

» Retirement Fund for Many California Firefighters Battling Wildfires Puts Money in Coal
By Sharon Kelly, DeSmog Blog
September 27, 2020

» Fracking Fiasco: New report names Wells Fargo and JPMorgan Chase as main players funding U.S. shale bust
By Oil Change International – press release
September 24, 2020

» 12 major cities pledge fossil fuel divestment
By Kristin Musulin, Utility Dive
September 23, 2020

» Norway’s Largest Private Asset Manager Divests in Chevron, Exxon for Lobbying Against Climate Action
By Olivia Rosane, EcoWatch
August 27, 2020

» Major investment firm dumps Exxon, Chevron and Rio Tinto stock
Storebrand says corporate lobbying to undermine climate solutions is ‘unacceptable’
By Jillian Ambrose, The Guardian
August 24, 2020

» Analysts Worried the Pandemic Would Stifle Climate Action from Banks. It Did the Opposite.
The risks of climate change and pressure from investors is driving the finance industry to move away from fossil fuels and improve its transparency.
By Kristoffer Tigue, InsideClimate News
August 9, 2020

» Investors launch climate plan to get to net zero emissions by 2050
By Simon Jessop, Reuters
August 5, 2020

» JPMorgan, Bank of America, Wells Fargo, Goldman Sachs back launch of climate finance center
By Dan Ennis, Utility Dive
July 15, 2020

» Massachusetts lawmakers ask Liberty Mutual to stop financing fossil fuels
As other major insurers commit to backing off oil and gas projects, activists say Liberty Mutual isn’t keeping pace.
By Sarah Shemkus, Energy News Network
June 18, 2020

» Report names the banks financing destructive oil projects in the Amazon
By Maurício Angelo, Mongabay
June 9, 2020

» Could New York’s Youth Finally Convince the State to Divest Its Pension of Fossil Fuels?
One analyst says oil, gas and coal were the biggest pension contributors for 30 years, but now are the worst performing sector—and there are no signs of improvement.
By Kristoffer Tigue, InsideClimate News
May 15, 2020

» Oxford University bans investment in fossil fuels after student campaigns
Decision comes after high-profile protests that saw campaigners occupy St John’s College
By Samuel Lovett, Independent
April 22, 2020

» This Earth Day, Stop the Money Pipeline
By Bill McKibben, DeSmog Blog
April 21, 2020

» Boulder County Wants Insurance Companies To Ditch Their Fossil Fuel Investments
By Grace Hood, Colorado Public Radio
February 14, 2020

» Study: global banks ‘failing miserably’ on climate crisis by funneling trillions into fossil fuels
Analysis of 35 leading investment banks shows financing of more than $2.66tn for fossil fuel industries since the Paris agreement
By Patrick Greenfield and Kalyeena Makortoff, The Guardian
March 18, 2020

» Global Financial Giants Swear Off Funding an Especially Dirty Fuel
By Christopher Flavelle, New York Times
February 12, 2020

» Climate Change Protesters Disrupt Yale-Harvard Football Game
Demonstrators stormed the field during halftime and caused the game to be delayed for about an hour.
By Britton O’Daly, New York Times
November 23, 2019

» First Major U.S. Insurer Begins Divestment from Fossil Fuels
By Elana Sulakshana, Truthout
September 12, 2019

» Norway Wealth Fund To Dump Fossil Fuel Stocks Worth Billions In Environmental Move
by David Nikel, Forbes
Jun 12, 2019

» Renewable Energy Transition Needs Investment, not Dis-investment:
Norway’s Sovereign Wealth Fund is Misguided in Cutting its Oil and Gas Holdings
by Nick Butler, Financial Times
March 18, 2019

» “Shockwaves” as Norway’s $1Trill wealth fund plans to disinvest from upstream oil
By Andy Rowell, Oil Change International
March 8, 2019