• We, Members Of Hackney Pension Fund, Demand Hackney Divest From Fossil Fuels
    Climate change is the greatest challenge humanity has encountered. Warming in excess of 1.5°C will have catastrophic consequences for millions of people across the planet [1]. In order to have a chance of staying below 2°C, let alone 1.5°C, 80% of known fossil fuel reserves must not be burnt [2]. If we want to keep warming to 1.5°C, we must keep the majority of fossil fuels in the ground. Yet, all available evidence suggests that fossil fuel companies intend to do just the opposite. They are determined to burn all the reserves within their control and look for even more oil, coal and gas. This burning would result in emissions five times larger than what it is deemed to be safe [3]. Hackney Council's Pension Fund currently has £75m invested in some of the biggest of these companies, including BP, Shell, Centrica, Rio Tinto and Exxon Mobil [4]. By investing in the fossil fuel industry, Hackney is attempting to profit from climate breakdown. Hackney Council has a responsibility to ensure its investments are financially sustainable and provide for pensioners for decades to come. Investing in fossil fuels will not do this. Fossil fuel investments are becoming increasingly risky as the cost of extraction rises and increased action on climate threatens to leave oil, coal and gas assets stranded [5]. Furthermore, recent financial studies have shown that divesting from fossil fuels can result in the same if not actually better returns to the pension fund [6]. Simply put, there is no good reason to keep these oily investments. For investors interested in long-term stability, there is no future in fossil fuels. Since 2012, investments equating to almost $8 trillion in assets from over 1,000 institutions have been divested worldwide [7]. These divestments come from the London Boroughs of Waltham Forest, Southwark, Islington, Lambeth and over 200 MPs from across the political spectrum who have pledged to Divest Parliament, including Hackney MPs Meg Hillier and Diane Abbott [8]. We welcomed Hackney Council’s 2017 commitment to decarbonise its investment portfolio by 50% over six years, but all of the most recent evidence points to the need for urgent and comprehensive action to reduce carbon emissions. In 2019, we stand with Divest Hackney to demand that Hackney Council #DivestTheRest. The momentum is undeniable and for the residents of Hackney, London and the wider UK and world, there is no time to waste. We want 2019 to be the year that Hackney Council finally commits to stop investing millions of pounds of our money in climate breakdown and commits to 100% divestment from planet-wrecking fossil fuels that endanger our future. Hackney Council had declared a Climate Emergency [9]. Now they need to put their money where their mouth is. It's our pension and our future on the line. [1] https://www.ipcc.ch/sr15/ [2] https://www.carbontracker.org/wasted-capital-and-stranded-assets-press-release/ [3] Ibid. [4] https://www.whatdotheyknow.com/request/updated_fossil_fuel_investments [5] https://www.carbontracker.org/wasted-capital-and-stranded-assets-press-release/ [6] https://www.msci.com/documents/10199/c75b5c93-1f22-4393-aa56-5722891c6445 [7] https://350.org/press-release/landmark-fossil-fuel-divestment-reached/ [8] https://gofossilfree.org/divestment/commitments/ [9] https://www.hackneygazette.co.uk/news/environment/hackney-council-declares-a-climate-emergency-1-5914142
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  • Divest Strathclyde University
    The University of Strathclyde prides itself of being 'the place of useful learning' - preparing its students for long and successful careers. Yet by holding £3.8m of investment in fossil fuel exploitation companies our University is betting against our future. We know that about two-thirds of known fossil fuel reserves cannot be burnt if we are to avoid catastrophic climate change. These investments are either doomed, or we are. Join us in calling on the University to funnel its funds towards the climate solution.
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  • Avignon dit STOP aux investissements dans les énergies fossiles
    Considérant que les engagements pris dans l'accord de Paris adopté à l'issu de la COP21, par lequel la communauté internationale s'est engagé à maintenir le réchauffement climatique « bien en-deçà de 2°C » ; Considérant que l'Assemblée nationale a adopté, le 25 novembre dernier, une résolution pour une société bas carbone, dans laquelle elle « "encourageant les investisseurs institutionnels, les entreprises, notamment celles dont l’État est actionnaire, et les collectivités territoriales à cesser d’investir dans les énergies fossiles et notamment dans le charbon » ; Considérant que, dans son rapport « Unburnable carbon », la Carbon Tracker Initiative montre que les entreprises du secteur fossile exploitent actuellement ou s'apprêtent à exploiter des réserves de charbon, de gaz et de pétrole représentant 2,795 gigatonnes d'émissions potentielles de CO2, soit cinq fois ce que nous pouvons émettre si nous souhaitons pouvoir maintenir le réchauffement sous cette barre des 2°C ; Considérant que des travaux récemment publiés par la revue Nature ont montré que l'ensemble des combustibles fossiles présents dans le sous-sol, qu'il s'agisse de gisements exploités, en passe d'être exploités, ou simplement identifiés, représentent 11 000 gigatonnes d'émissions potentielles de C02, soit vingt fois ce que nous pouvons émettre si nous souhaitons pouvoir maintenir le réchauffement climatique sous cette barre des 2°C ; Considérant la campagne lancée il y a trois ans par le mouvement 350.org de « désinvestissement du secteur fossile », qui se fonde sur le constat que certaines institutions encouragent le réchauffement climatique en détenant des investissements directs dans des entreprises du secteur des énergies fossiles, et encourage les institutions à initier une stratégie d’investissement socialement et écologiquement responsable et pour ainsi agir en faveur du climat ; Considérant que les entreprises ciblées dans le cadre de cette campagne sont toutes celles qui appartiennent à la liste des 200 entreprises qui possèdent les plus grandes réserves de charbon, de gaz et de pétrole, autrement dit qui représentent les principales sources d'émissions de CO2 à venir, telles que listées par la « Carbon tracker initiative » ; Considérant que pour réellement initier ce changement souhaité deux principaux acteurs sont prioritairement à convaincre : les fonds de pension et les banques, qui gèrent des portefeuilles d’investissement très importants ; Considérant que les caisses de retraites de la fonction publique (Ircantec, Erafp, Cnrac) ainsi que le Fonds de réserve pour les retraites détiennent plusieurs milliards d'actions et obligations émises par ces entreprises ; Considérant que plus de 500 villes, universités, musées et autres institutions se sont d’ores et déjà engagées dans cette démarche, à l’image des villes de San Francisco et Seattle ou encore de l’université de Stanford, du Fonds souverain de Norvège, de la fondation Rockefeller Brothers, rejointes par la ville de Paris par 34 collectivités locales françaises (parmi lesquelles les villes de Paris, Lille et Bordeaux, les régions Ile de France et Rhône-Alpes-Auvergne) ; Considérant que le grand Avignon a la responsabilité de protéger la vie et l'environnement de ses habitants des conséquences du changement climatique ; Cette pétition est lancée dans le contexte de la 4éme marche pour le Climat, le 17 mars 2019, plus d'informations sont disponibles sur https://france.zerofossile.org/
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  • Divest Lewisham Council from Fossil Fuels
    Even as extreme weather events like Hurricane Sandy, floods, droughts and fires threaten to overwhelm local budgets, federal inaction to solve this crisis is all but stalled. We have the solutions, but we won’t see any political progress on the issue until we can weaken the power of the fossil fuel industry. The bottom line is this: divestment is the only moral choice for institutions that care about the planet and its residents. Solving the climate crisis is the only practical choice for governments that care about their solvency.
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  • Coventry to Divest from Fossil Fuels, Reinvest Locally
    Burning of fossil fuels is destroying life on earth. Every day 200 species are extinct. This is unlike anything since the dinosaurs died out 65 million years ago. West Midlands Pension Fund is profiting from climate change by investing in five fossil fuel majors which use their influence to stop governments taking action on climate change. These companies spend under 3% of their capital budgets on renewables. They plan to increase production of oil and gas. Meanwhile the CO2 pollution is causing catastrophic wildfires, flooding, crop failures, and ice sheets are melting. Years of WMPF trying to pressure these companies as a shareholder has yielded virtually no action. It is time for WMPF to send out a clear message that enough is enough and divest all fossil fuel holdings and reinvest in local infrastructure and the green economy.
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  • Divest UNBC From Fossil Fuels
    Dear President, Board of Governors and the Chairperson: The below students, staff, faculty, alumni, and community members have signed this petition to urge you to take a bold stand and divest the University of Northern British Columbia’s (UNBC) Endowment Fund from fossil fuel investments.   We as a university must withdraw our support from an industry that is crippling the planet and instead support the rising renewable energy sector. We are pleased that UNBC has committed to strong sustainability goals. Divesting from fossil fuels would complement these goals and further ensure that education is not at the expense of the planet and future generations of students. The upcoming investment policy, written by the Investment Sub-committee, is a great opportunity to instigate change in investments and thereby support a safe and sustainable future. We believe that UNBC can and should be a leader of divestment in Western Canada, as “Canada’s Green University.” There is mounting evidence that investment portfolios focusing on renewable energy and socially responsible investments are competitive, if not superior in today’s market (1, 2). We call on you to: 1) complete an inventory of the endowment fund, and 2) remove all investments from fossil fuel companies as defined by the Fossil Free Index list of the Top 200 coal and oil & gas companies (3) by 2025. References 1. https://business.financialpost.com/entrepreneur/trending-divestment-movement-could-mean-big-opportunity-for-canadas-father-of-fossil-free-investing 2. https://www.theguardian.com/environment/2018/sep/10/fossil-fuel-divestment-funds-rise-to-6tn 3. https://gofossilfree.org/top-200/ The petition was edited and used to be addressed to President Weeks, Chairperson Wolsey and the respective Board of Governors. Currently, including Dr. Geoff Payne, Dr. Joseph Gosnell, Sr. , Mr. Aaron Ekman, Mr. Andrew Robinson, Ms. Allison Beswick, Mr. Joel McKay, Mr. Michael Reed, Mr. Gregory Stewart, Ms. Barbara Ward-Burkitt, Ms. Catherine Wishart, Dr. Darwyn Coxson, Dr. Paul Sanborn, Mr. Garfield Staats, Ms. Furqana Khan and Ms. Joyce Henley. Last edited on Oct 24, 2020.
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  • Divest Lucy Cavendish College From Fossil Fuels
    Climate change is the most pressing problem of our time and fossil fuel companies cause a significant share of global carbon emissions. Hence, the transition to renewable energy resources is one of the most important steps to keep the global temperature-increase under the 2 degrees limit of the Paris Convention and is closely connected to investment policies. The social and environmental consequences of climate change are unequally distributed across the globe and among individuals. Investments legitimise the activities of fossil fuel companies that are related to complicity in human rights violations and environmental disasters. Divestment of the fossil fuel industry reflects the progressive values that Lucy Cavendish College aims to represent. The Guardian’s recent revelations* expose the influence of the fossil fuel lobby on the University’s decision to reject divestment last year. Lucy Cavendish College can, in accordance with its progressive values, express its disapproval of the collusion between the fossil fuel industry and the University of Cambridge by divesting. Investments in fossil fuel companies are economically unreliable because of volatile share prices. This is because such companies in the fossil fuel industry attract public scrutiny for their complicity in human rights violations and environmental disasters. Further, there is a volatile market-evaluation of natural resources. In the long run, this evaluation is expected to decrease significantly because of more efficient renewable energy sources and a decrease of the profitability of the fossil fuel industry. Divestment is feasible as fossil free funds have been shown to perform on par with or better than conventional investments. * https://www.theguardian.com/education/2019/jan/30/bp-and-bhp-offered-cambridge-university-millions-despite-calls-to-divest
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  • Divest The Local Government Pension Fund for NI from Fossil Fuels
    Climate change is the greatest threat facing us today. Air pollution from fossil fuels in NI already contributes to 500 premature deaths annually [1]. A small number of very powerful fossil fuel companies bear most responsibility for the climate crisis we are now facing [2]. The time for action is now! For many people pension funds conjure up ideas of future security. However, the Local Government Pension Scheme for Northern Ireland (LGPS NI) is threatening our future by investing millions in climate wrecking fossil fuel industries. The LGPS NI is used by Northern Irish councils and by a huge number of local employers across Northern Ireland. Meaning, your pension could be fuelling climate change. Not only is this unethical but it is also financially risky [3]. We know that 80% of known fossil fuel reserves must remain unused if we are to avoid runaway climate chaos. Why are we investing in companies actively engaged in exploration for even more fossil fuel reserves? Financial experts, such as the Governor of the Bank of England, Mark Carney, are warning that the vast majority of fossil fuel assets will become ‘unburnable’ – and therefore worthless! Which means that the value of fossil fuel company stocks is likely to fall – and leave unsavvy investors with huge losses. . We want the governing body of LGPS NI, - the Northern Ireland Local Government Officers Superannuation Scheme (NILGOSC) - to agree to completely divest the pension scheme from fossil fuels by 2022. This will protect both our pensions and human lives from the devastating impacts of climate change. References [1] https://www.belfasttelegraph.co.uk/news/northern-ireland/fossil-fuel-pollution-kills-553-people-in-northern-ireland-everyyear-claims-expert-30965875.html. [2] https://www.theguardian.com/sustainable-business/2017/jul/10/100-fossil-fuel-companies-investors-responsible-71-globalemissions-cdp-study-climate-change [3] https://www.bbc.co.uk/news/uk-northern-ireland-46146866
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  • Divest Clare Hall from Fossil Fuels
    We petition Clare Hall to divest because scientific evidence shows that catastrophic environmental breakdowns are imminent if drastic changes are not made very soon. Climate change is a matter of social justice and financial responsibility. Marginalized populations are already and will continue to be disproportionately affected by climate change. Divestment weakens fossil fuel companies’ social legitimacy and sends a message that ‘business-as-usual’ is unacceptable. We petition Clare Hall to recognize the social and financial value of divested portfolios. Fossil free funds have been shown to perform on par with or better than conventional investments. Managers experienced with ESG investing can help make this a feasible and financially responsible path. We support the proposal for divestment to also include targeted investing in businesses that promote sustainable environmental practices and better energy alternatives to fossil fuels. We also petition Clare Hall to divest because we believe that it would align with the College’s history of operating on progressive values, and its stated commitment to improving energy conservation and reducing our carbon footprint. Finally, we petition Clare Hall to divest because it represents an opportunity to join the 988 institutions already committed to divestment globally (combined worth $7.18 trillion), and to show leadership where our university has so far not done so. As more colleges consider taking similar action, we believe that Clare Hall can be a leading, influential voice in the local and international debate on divestment from fossil fuels, as one step in the broader challenge of addressing climate change. For sources and the full policy proposal document contact [email protected]
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  • Stop der öffentlichen Investitionen in fossile Brennstoffe durch die Stadt Würzburg
    Sehr geehrter Herr Schuchardt, Sehr geehrte Mitglieder des Stadtrats, Die Stadt Würzburg hat schon in der Vergangenheit besonderes Engagement im Klimaschutz gezeigt. Dazu gehören das integrierte kommunale Klimaschutzkonzept. Nun hat die Stadt Würzburg wieder die Möglichkeit eine Vorreiterrolle im Klimaschutz einzunehmen. Zum Hintergrund: Der bindende Beschluß der Klimakonferenz in Paris und die Berichte des Weltklimarats sprechen eine deutliche Sprache. Wenn wir den Klimawandel auf unter 2º Celsius begrenzen wollen, darf der Großteil der fossilen Energiereserven wie Kohle, Öl und Gas nicht verbrannt werden. Alles andere würde eine Destabilisierung des Klimas mit katastrophalen Folgen für Mensch und Natur nach sich ziehen. Laut Weltklimarat, müssen Investitionen in fossile Energieträger jährlich um $30 Milliarden reduziert werden, während Investitionen in kohlenstoffarme Energiegewinnung um $147 Milliarden steigen müssen. Außerdem ist damit zu rechnen, dass Unternehmen im fossilen Sektor in den kommenden Jahren stark an Wert verlieren werden, weil sie ihre Rohstoffvorkommen nicht mehr fördern und verkaufen können. Die Finanzwelt spricht von einer Kohlenstoffblase, die kurz davor ist zu platzen. Damit stellen Investitionen in fossile Energien ein hohes finanzielles Risiko dar. Die jüngsten Verluste von RWE und Eon verdeutlichen bereits heute, dass das Geschäftsmodell des fossilen Sektors nicht zukunftsfähig ist. Studien der Internationalen Energieagentur, der Universität Oxford sowie verschiedener Großbanken wie HSBC oder Citi warnen vor Investitionen in diesem Sektor. Überall auf der Welt beginnen daher Städte, Gemeinden, Kirchen, Universitäten, Stiftungen und andere Institutionen ihre Investments aus den 200 größten Kohle-, Erdöl- und Erdgasunternehmen abzuziehen. Ein solches Divestment erreicht zweierlei: Einerseits schützt es vor den Gefahren zukünftiger Wertverluste und sichert so nachhaltig die finanzielle Stabilität Ihrer Stadt. Andererseits entzieht es klimaschädlichen Unternehmen die gesellschaftliche Zustimmung und trägt so zu Wandel bei, der aufgrund der Klimakrise notwendig geworden ist. In den Vereinigten Staaten haben bereits 25 Städte verbindlich beschlossen ihre Anteile an Unternehmen des fossilen Sektors zu verkaufen. Darunter sind Großstädte wie San Francisco oder Seattle. Dagegen steht die Bewegung in Europa noch am Anfang. In den Niederlanden hat sich die Stadt Boxtel Ende 2013 als erste europäische Stadt verbindlich Divestment verschrieben. Würzburg kann nun in Deutschland diese Vorreiterrolle einnehmen und zeigen, dass eine nachhaltige Finanzpolitik mit Rücksicht auf Natur und zukünftige Generationen möglich ist. Die globale Klimakampagne 350.org arbeitet mit Städten, Universitäten, Kirchen und anderen Institutionen in Europa, USA, Australien, Neuseeland, Kanada und Afrika zusammen, um gemeinsam gegen den Klimawandel und für eine lebenswerte Zukunft einzutreten. Mir persönlich ist dieses Anliegen wichtig, weil ich mich nicht nur um eine lebenswerte Zukunft kommender Generationen sorge, sondern auch um meine eigene. Ich hoffe, dass Sie Schritte einleiten, um: Keine neuen Investitionen in fossile Brennstoffe mehr zu tätigen Eigene Anteile an direkten und indirekten Investments innerhalb der nächsten 5 Jahre abzustoßen. Dazu gehören Aktien, Mischfonds, Unternehmensanleihen und sonstiges Kapital das Erdöl-, Erdgas- und Kohleunternehmen beinhaltet. Ich freue mich auf die Zusammenarbeit mit Ihnen und stehe Ihnen für Rückfragen zur Verfügung. Mit freundlichen Grüßen, Florentina Kolb Quellenangaben 1. Intergovernmental Panel on Climate Change (IPCC) http://www.ipcc.ch/report/ar5/wg3/ 2. Artikel zum Finanzrisiko Kohlenstoffblase in der Zeit: http://www.zeit.de/2014/08/carbon-bubble-rohstoff-blase 3. Internationale Energieagentur. World Energy Outlook 2012: http://www.iea.org/publications/freepublications/publication/German.pdf 4. Smith School of Enterprise and Environment, Oxford. Stranded Assets Programme http://www.smithschool.ox.ac.uk/research/stranded-assets/ 5. HSBC, Coal and Carbon - Stranded assets: Assessing the risks https://www.research.hsbc.com/midas/Res/RDV?p=pdf&key=dXwE9bC8qs&n=333473.PDF 6. http://www.theguardian.com/environment/2013/apr/19/carbon-bubble-financial-crash-crisis 7. Liste der Top 200 Kohle-, Erdöl-, Erdgasunternehmen weltweit: https://docs.google.com/a/350.org/spreadsheets/d/1an9qOSE2uG4XuzeA4ltUVadDawheTWdJGKRpU5ayCJk/pubhtml 8. Eine Liste der Städte, Universitäten, Kirchen und anderer Institutionen die sich Divestment verschrieben haben: http://gofossilfree.org/commitments/
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  • Divest from Fossil Fuels and Invest in our Futures!
    Climate change is accelerating. We are witnessing the increasing impacts of a warming planet more and more consistently; in this last year alone our country experienced record-breaking heat, droughts, and hurricanes, which impacted hundreds of thousands of people and cost our country hundreds of billions of dollars. Hurricane Sandy alone caused $50 billion in damages. Experts agree that global warming caused by humans burning fossil fuels will continue to accelerate and intensify these tragic climate disasters. The scientific consensus is clear and overwhelming; we cannot safely burn even half of global fossil-fuel reserves without dangerously warming the planet for several thousand years.
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