1,000 signatures reached
To: The Massachusetts Senate and House of Representatives
Make Massachusetts the First State to Divest from Fossil Fuels!
We, the undersigned residents of Massachusetts, urge the legislature to support legislation requiring the Massachusetts Pension Reserves Investment Trust (PRIT) to freeze any new investments in fossil fuel companies, and to divest from direct holdings in fossil fuel companies within 5 years.
Why is this important?
THE BURNING OF FOSSIL FUELS IS DESTROYING THE CLIMATE.
The level of CO2 in the atmosphere on May 10 2013 reached 400 ppm, the highest level in human history, caused in large part by the burning of fossil fuels. Fossil fuel corporations have 5 times more oil, coal and gas in known reserves than climate scientists think is safe to burn.
EXTREME WEATHER EVENTS UNDERLINE THE URGENCY OF THE ISSUE.
In just the last year, the US. has struggled to contend with extreme weather events like Hurricane Sandy, the Midwest drought and the Colorado wildfire. These events are serious reminders of the need to take bold action to curb climate change now. The impacts on Massachusetts' coastal communities and economy due to climate-related shifts will lead to billions of dollars of loss in the future.
DIVESTMENT FROM FOSSIL FUELS IS A MORAL ISSUE
Just like in the movements to divest from the tobacco industry or to end Apartheid in South Africa, climate change is a deeply moral issue. Nationwide, colleges, religious organizations, cities, and states are campaigning for divestment from fossil fuels on moral grounds: If it’s wrong to wreck the planet, then it’s also wrong to profit from that
INVESTMENT IN FOSSIL FUELS PRESENTS RISK.
A report released by the Carbon Tracker Initiative and the London School of Economics shows that 60 to 80 percent of coal, oil and gas reserves held by the top 200 oil, gas and mining companies listed on the world’s stock exchanges could be considered unburnable and therefore far less valuable than thought. The value of fossil fuel investments is predicted to implode, bursting the “carbon bubble.
INVESTMENT IN FOSSIL FUELS STUNTS MASSACHUSETTS’ OTHER GREEN EFFORTS.
By investing in clean energy and energy efficiency, Massachusetts has shown the nation that we can reduce our impact on the climate while creating jobs. Investment in fossil fuels stunts those efforts. Big oil spends $167,000 daily lobbying the U.S. Congress, frequently to block clean energy solutions. On the other hand, divestment from fossil fuels is a logical extension of the Commonwealth’s consistently Green leadership. It’s time to invest in our future.