500 signatures reached
To: UN Secretary-General Ban Ki-Moon
Divest the UN Joint Staff Pension Fund from fossil fuels
We call on the UN Secretary General to align the UN Joint Staff Pension Fund's investments with the UN's ambitions to solve global climate change by committing to:
1. immediately freeze any new investment in fossil fuel companies
2. divest from direct ownership and any commingled funds that include fossil fuel public equities and corporate bonds within 5 years.
3. re-invest responsibly in sectors that align with the UN's humanitarian and environmental goals
Why is this important?
Ban Ki-Moon convened a special UN Summit to catalyse action from world leaders to tackle the looming climate crisis last September. He is fully aware that we must leave 80% of the world's known fossil fuel reserves underground and immediately stop exploration for new ones. He must recognise the importance of putting the UN's money where its mouth is and lead the way by divesting the UN's Staff Pension Fund from fossil fuels.
The UN Joint Staff Pension Fund is worth over $53 billion and represents the retirement savings of the majority of UN employees. By divesting the UN Pension Fund from fossil fuels, the UN can show that divesting from fossil fuels is both financially responsible and morally necessary. The UN can lead the way in mobilising other pension funds, institutions and investors to withdraw from the industry responsible for the climate crisis and begin to shift investments into the much-needed alternatives.
On 21st September 2014 over 700,000 marched in cities and towns across the world to demand climate action, not words. Ban Ki Moon personally accepted a petition signed by over 2 million people whilst on the streets of New York, standing shoulder to shoulder with the People's Climate March.
Now he must lead the way, and turns his words into action by divesting the UN Pension Fund from fossil fuels.