1,000 signatures reached
To: The board of the Nobel Foundation
Divest the Nobel Foundation from fossil fuels
SIGN THIS PETITION ON WWW.DIVESTNOBEL.ORG
We ask The Nobel Foundation to:
* Immediately adopt a new investment policy where financial investments that the Nobel Foundation manages are not allowed to be invested in companies that gain more than 5% of their revenue from coal, oil and gas
* Adopt a plan for how to divest all assets within those companies within a 5-year period.
* Report the transition process in an open and transparent fashion
* Publicly declare the Foundation will divest, i.e. clearly show the intention to completely cease with financial investments in the fossil fuel industry
* Call for other institutions to follow suit
Why is this important?
We love Nobel. We love how it’s awards celebrate the greatest achievements of, and for, mankind. But there is one thing we do not love; its investments in the fossil fuel industry, which are driving climate change. We therefore call on the Nobel Foundation to commit to divest from fossil fuels.
Why is this important?
Climate change is the greatest challenge humanity has encountered. Warming in excess of 1.5°C will have catastrophic consequences [1]. In order to have a chance of staying below this temperature rise, 80% of known fossil fuel reserves must stay in the ground [2].
The fossil fuel industry currently holds vast carbon reserves which if burnt would result in emissions 5 times larger than that which is scientifically deemed to be safe [2]. All available evidence suggests that fossil fuel companies intend to burn the reserves within their control. In addition, companies such as Shell are actively trying to discover new reserves, often in environmentally sensitive regions.
If it is wrong to damage the world we live in, then it is wrong to profit from that damage. Responsible investors should no longer be profiting from the destructive activities of these companies. And especially not the Nobel Foundation, which aims to highlight work done for the benefit of mankind.
Fossil fuel investments are becoming increasingly risky as the cost of extraction increases and international treaties restrict the use of fossil fuels [2]. Not only does it make moral sense not to invest in the destruction of our planet, it also makes financial sense.
By divesting from fossil fuels, the Nobel Foundation will join institutions such as Stockholm University and city and The Rockefeller Brothers Fund amongst many others [3], in leading by example to help create a sustainable future for our world.
References
[1] https://www.ipcc.ch/pdf/assessment-report/ar5/syr/AR5_SYR_FINAL_SPM.pdf
[2] http://www.carbontracker.org/wp-content/uploads/2014/09/Unburnable-Carbon-Full-rev2-1.pdf
[3] http://gofossilfree.org/commitments/