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  • Islington Council: Divest from Fossil Fuels
    Climate change is the most pressing problem facing humanity. We want to protect this planet so it remains for our children and grandchildren. We can start by asking our local council to take its money out of fossil fuels - currently £59.5 million. Local government has a duty to act for the public good. Fossil fuels are in direct conflict with this: investing in them threatens the planet and poses a risk to investors. Financial research has called into question the valuations of fossil fuel companies as they rely on reserves which must remain unburned if we are to avoid catastrophic climate change. Islington Council should take a prudent economic decision and a moral stand by moving our money away from risky fossil fuel investments. Divestment from fossil fuels makes a powerful statement that the fossil fuel industry is morally and financially unviable, and that the people of Islington want a sustainable future.
    1,108 of 2,000 Signatures
    Created by Jen Cronin
  • Divest University of Oslo from fossil fuels
    Verden har gått sammen om at den globale oppvarmingen bør holdes godt under 2 grader og helst begrenses til 1,5 grader. For å klare det må vi styre energibruken vår i en retning som tar innover seg klimaendringer. Vi trenger en bred overgang mot et bærekraftig og fornybart energisystem. Første skritt på denne veien er å ikke lete etter mer fossilt brensel, kutte ned bruken og finne alternative løsninger. For at det skal være mulig kan ikke enorme kull-, olje-, og gasselskaper få lov til å fortsette sine utforskninger og utbygginger. For at disse selskapene skal innse dette kan vi ikke legge våre penger igjen hos dem. UiO har som Norges største universitet et ansvar om å vise vei for en samfunnsutvikling som er i tråd med forskningen. Deinvester nå! * * * The world has now united over the 2°C-target. To reach this goal, we need a society-wide overhaul to a sustainable and renewable energy system. The first steps are to stop fossil fuel exploration, reduce consumption and find alternative solutions. To do this, the fossil fuel industry must not be allowed to continue its exploration and expansion, but this will never happen as long as we continue to invest our savings in them. As Norway's largest university, UiO has a responsibility to lead the way to sustainable development in line with what research has shown us. Divest now!
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    Created by Perolina Klanderud
  • Divest Somerville, Massachusetts from Fossil Fuels!
    Climate change is upon us, and Somerville, along with many surrounding communities, is now having to deal with the problems associated with it. As storms become more frequent and severe, it does not make sense for us to continue to fund corporations who are contributing directly to this problem. Somerville has already taken steps to fight climate change. By divesting from the fossil fuel industry, we can get to the root of the problem, and take a firm stance against fossil fuel extraction. The top 200 publicly-traded companies hold the vast majority of the world’s proven coal, oil and gas reserves. Our demands to these companies are simple, because they reflect the stark truth of climate science: They need immediately to stop exploring for new hydrocarbons. They need to stop lobbying in Washington and state capitols across the country to preserve their special breaks. Most importantly, they need to pledge to keep 80% of their current reserves underground forever, since they currently have 5 times the reserves that we know is safe to burn.
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    Created by Matt Long
  • Divest Waltham Forest
    Climate change is the greatest challenge humanity has encountered. Warming in excess of 2°C will have catastrophic consequences for the whole planet [1]. If global warming is to be limited to 2°C, a level already considered dangerous, up to 80% of known carbon reserves must be left in the ground [2] The fossil fuel industry currently holds vast carbon reserves, which, if burnt, would result in emissions 5 times larger than what it is deemed to be safe [3]. All available evidence suggests that fossil fuel companies intend to burn the reserves within their control [4]. In addition, companies such as Shell are actively trying to discover new reserves, often in environmentally sensitive regions [5]. Research conducted by Carbon Tracker shows that there has been an over-valuation of fossil fuel reserves held by fossil fuel companies. 2/3 of these fossil fuels must remain in the ground if countries are to meet internationally agreed targets. These fossil fuels are, in effect, unburnable, so therefore worthless, which will lead to massive market losses. This is the “Carbon Bubble”. [6] Fossil fuel-free investments are now outperforming more conventional fossil fuel investments. According to recent reports, fossil fuel-free investments “earned an average return of 1.2% more a year over the last five years” [7] when compared with fossil fuel investments. Waltham Forest Council exists to serve the people of the borough, and it should therefore acknowledge the significant risks that fossil fuel investments pose to local residents' financial security and future quality of life. The council should therefore take a moral, political and economic stand by divesting its money from fossil fuel companies and choosing investments less at risk from climate change legislation and more compatible with the local community’s values. Waltham Forest Council should use its money to reinvest in, and support development of, solutions to climate change. As Waltham Forest Council wishes to maximise its return on investment, there are many ethical (and fossil fuel-free) investment options that provide excellent financial returns. Divesting its money away from fossil fuels would make a powerful statement that the fossil fuel industry is morally and economically unviable, and that the people of Waltham Forest wish to support an alternative, sustainable energy future. By divesting from fossil fuels, Waltham Forest will join public institutions such as the British Medical Association, London School of Hygiene & Tropical Medicine, Bristol City Council, Oxford City Council, and the Universities of Bedfordshire, Edinburgh, Glasgow, Oxford, and Warwick in leading by example to help create a sustainable future for the citizens of Waltham Forest and beyond. [8] Let's make Waltham Forest fossil-fuel free, and together, we can send a signal that we are ready to shift to an economy powered by renewable energy. References: 1. http://www.ipcc.ch/pdf/assessment-report/ar5/syr/SYR_AR5_FINAL_full.pdf 2. http://www.nature.com/nature/journal/v517/n7533/full/nature14016.html 3. http://www.carbontracker.org/wp-content/uploads/2014/09/Unburnable-Carbon-Full-rev2-1.pdf 4. http://www.carbontracker.org/wp-content/uploads/2014/09/Unburnable-Carbon-Full-rev2-1.pdf 5. http://www.shell.com/global/future-energy/arctic/exploration-production.html 6. http://www.theguardian.com/environment/2013/apr/19/carbon-bubble-financial-crash-crisis & http://www.carbontracker.org/wp-content/uploads/2014/09/Unburnable-Carbon-Full-rev2-1.pdf 7. http://www.theguardian.com/environment/2015/apr/10/fossil-fuel-free-funds-out-performed-conventional-ones-analysis-shows 8. http://gofossilfree.org/commitments/
    609 of 800 Signatures
    Created by Divest WF
  • Newcastle University (UK) Fossil Free Campaign
    If it’s wrong to fuel the climate crisis, it’s wrong for our institutions to profit from the companies fuelling the climate crisis. Fossil fuel companies’ current reserves of oil, coal and gas hold five times more carbon than the world’s atmosphere can safely handle. Their business plan will cause climate chaos for billions of us, yet UK universities still collectively invest £6.6billion in fossil fuel companies. Though from a different pool of money, that's the equivalent to £1, 804 per student! By divesting from fossil fuels we can secure a clean energy future for generations to come. It’s time to dump the fossil fuel industry. • The university is contradicting its commitments to tackling climate change by reducing fossil fuel consumption and promoting good energy practice, as stated in the ‘Environmental Sustainability Policy’, ‘energy policy statement’ and ‘Green Education Declaration’. • Newcastle University has an endowment of £55.2million including investments in fossil fuel companies BP and Royal Dutch Shell of £2,749,585 and £3,308,964 respectively. • BP and Shell are among the world’s top 10 largest fossil fuel companies, by proven carbon reserves, and that these reserves are well in excess of the amount of carbon that can be safely burned to avoid the most catastrophic effects of climate change. • In April 2010, BP was responsible for an oil slick in the Gulf of Mexico which released between 35,000 and 60,000 barrels of oil a day, covering thousands of square miles of ocean and causing devastating harm to sea life in the area. • Royal Dutch Shell have already commenced exploratory drilling in the Arctic and have expressed a keen interest in oil extraction in the area. Drilling in the Arctic could cause irreversible damage to the local and global ecosystem. • Six higher education institutions in the United States in addition to seventeen cities have already committed to divesting from fossil fuels for both moral and financial reasons. Glasgow University recently became the first UK university to commit to the Fossil Free campaign, followed by SOAS, Edinburgh and Warwick. • Ending investment in the fossil fuel industry provides an opportunity for re-investment in renewable energies – a route to a clean and healthy environment.
    2,293 of 3,000 Signatures
    Created by Fossil Free Newcastle
  • Divest Derbyshire
    1. Derbyshire County Council Pension Fund has £290 million invested in fossil fuel industries, including Royal Dutch Shell, BP and Rio Tinto. Fossil fuel industries make up nearly 6% of the pension fund. 2. The pension fund affects over 170 employers in Derbyshire including Derbyshire County Council, all the borough and District Councils in Derbyshire [1]; Derby City Council; Chesterfield College; Derby College; Derbyshire Fire Authority; Derbyshire Police Authority; Peak District National Park Authority; University of Derby and a large group of smaller employers. 3. 97% of climate scientists agree that humans are the primary cause of recent climate change, largely due to the release of greenhouse gases from the combustion of oil, coal and gas for heat and power. Climate change is happening now - we’re already experiencing global temperature rise, warming oceans, shrinking ice sheets and more frequent and intense extreme weather events. [2] Whole ecosystems are threatened, and people's lives are at risk due to flooding, food and water insecurity, creating climate change refugees. [3] 4. In order to stop the global climate warming by 2 °C above pre-industrial levels and avert global catastrophe, 80% of all known fossil fuels must stay in the ground. [4] By removing investments in fossil fuel companies Derbyshire County Council will be showing its commitment to creating a healthy, sustainable future for both the people of Derbyshire and the planet as a whole. 5. There is also a financial argument to divest from fossil fuels. The need and growing political pressure to leave as much of our fossil fuels in the ground make the risk of stranded assets (worthless fuel stocks that regulation will prevent from being burned) very real. [5] At the same time it is becoming more expensive both to find and to extract the remaining fuel deposits, while, renewable energy technology is becoming more efficient and less expensive. [6]. Both of these factors create risks for investors. People and institutions that own shares in fossil fuel companies will see the value of their investments decrease. [7,8] 6. Institutions across the world including churches and universities, the Environment Agency [9] as well as local authorities in the UK such as Bristol City Council and Oxford City Council have already committed to divest from fossil fuels. [10] Let's see Derbyshire join them in making this small but impactful commitment. This petition is supported by the following Derbyshire organisations (in alphabetical order): Amber Valley Against Fracking; Calow Against Gas Extraction (CAGE); Chesterfield and District TUC; Chesterfield Climate Alliance; Clay Cross Against Fracking; Creswell Against Fracking; Derby Climate Coalition; Eckington Against Fracking; Glossopdale Transition Initiative; Melbourne Area Transition; Sustainable Edale; Sustainable Hayfield; Transition Belper; Transition Buxton; Transition Chesterfield; Transition Hope Valley; Transition Matlock; Transition New Mills. Transition Wirksworth; University of Derby Students’ Union. Please let us know if you would like your group to be added to this list. A hard copy of this petition can be downloaded from www.transitionchesterfield.org/divest-derbyshire/ Notes [1] Amber Valley Borough Council; Bolsover District Council; Chesterfield Borough Council; Derby City Council; Derbyshire Dales District Council; Erewash Borough Council;; High Peak Borough Council; North East Derbyshire District Council; South Derbyshire District Council [2] http://climate.nasa.gov/evidence/ [3] www.unhcr.org/pages/49e4a5096.html [4] www.bbc.co.uk/news/science-environment-30709211 [5] www.carbontracker.org/report/wasted-capital-and-stranded-assets/ [6] www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/10957292/Fossil-industry-is-the-subprime-danger-of-this-cycle.html [7] www.theguardian.com/environment/2015/mar/03/bank-of-england-warns-of-financial-risk-from-fossil-fuel-investments [8] www.theguardian.com/environment/2015/oct/12/millions-wiped-off-uk-local-government-pensions-due-to-coal-crash-analysis-shows [9] www.eapf.org.uk/en/news-feed [10] http://gofossilfree.org/commitments/
    458 of 500 Signatures
    Created by Lisa Hopkinson
  • UNIVERSITY OF THE ARTS: GO FOSSIL FREE!
    To put the University of the Arts at the forefront of the global movement to reject our reliance on fossil fuels. To follow the successful example of the University of Glasgow, who have recently achieved a divestment policy. To achieve transparency, so that students (current and prospective) know where their money is going, and all members of the University know its position on environmental issues. From tar sands to Arctic drilling and hydraulic fracturing (or fracking) for shale gas - the fossil fuel industry is scraping the bottom of the barrel and causing huge environmental and human devastation in the process. Withdrawing our institutions’ financial and moral backing for this climate-wrecking industry is crucial to tackling climate change. For more information: http://peopleandplanet.org/fossil-free http://www.theguardian.com/environment/2014/oct/08/glasgow-becomes-first-university-in-europe-to-divest-from-fossil-fuels
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    Created by Che Kohl Picture
  • Berkshire Pension Fund: Divest from Fossil Fuels
    It is estimated that the Royal County of Berkshire Pension Fund has over 97 million pounds invested indirectly in fossil fuels. If fossil fuel companies extract and burn just 20% of the reserves they hold, this will cause catastrophic climate change (extreme weather, food shortages and conflict). The urgency of stopping climate change requires that we progressively stop burning fossil fuels now. It is irresponsible and immoral for public bodies and pension funds to invest in fossil fuel extraction companies and instead they should, where possible, direct investment into 'green energy' infrastructure.
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    Created by Rob White
  • Divest Vermont’s Retirement Funds From Fossil Fuels
    Vermonters are paying for climate change - recovery funds to repair our state from Irene’s destruction, lost revenue when Lake Champlain floods or when the ski season shrinks, impacts to our farmers and our agricultural industry. In Bill McKibben’s words, “Why would we pay tens of millions to try and recover from Irene and at the same time support those corporations making the next Irene inevitable?” Fossil fuel companies are a bad investment both for the planet and for our pocketbooks. 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. Experts agree that global warming will continue to accelerate and intensify these tragic 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. Regarding the pocketbook, market analysts at HSBC have warned oil and gas majors, including BP, Shell and Statoil, that they could face a loss in market value of up to 60% should the international community stick to agreed emissions reduction targets. Their prediction is based on an ‘unburnable carbon’ scenario – a scenario where oil and gas falls to keep atmospheric concentration below 450ppm. The analysts argue that the oil market is still failing to think about a low carbon future – ‘because of its long-term nature, we doubt the market is pricing in the risk of a loss of value from this issue’.
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    Created by Maeve McBride
  • Divest Greenwich Council From Fossil Fuel Investments
    The Greenwich Pension Fund has around £17 million invested directly in fossil fuel companies and more invested indirectly (i.e. commingled) [1]. Such investments carry a high degree of risk on ethical, financial and scientific grounds and the Pension Fund’s investments therefore expose the people of Greenwich to those risks. Hundreds of institutions around the globe have already committed to divesting more than £31 billion from fossil fuel companies, and the Greenwich Pension Fund can add significantly to this movement [2]. If global warming is to be limited to 2°C, a level already considered dangerous, up to 80% of known carbon reserves must be left in the ground [3]. Available evidence indicates that fossil fuel companies intend to burn enough reserves to push global warming far above 2°C, as they insist even on searching for further reserves, often in the globe’s most ecologically sensitive areas [4]. 2014 was the hottest year ever recorded and the 20 hottest years have all occurred since 1981, bringing increases in extreme weather events, flooding, droughts and other calamities [5, 6]. Fossil fuel companies have also been actively disruptive to political efforts at limiting global warming through intensive political lobbying and the funding of disinformation campaigns [7]. If it is wrong to continue to wreck the Earth’s climate, then it follows that it is wrong to profit from that wreckage. There are also increasing indications that the profitability of the fossil fuel industry will decrease significantly in coming years. If action is taken to limit global warming and a large degree of carbon reserves are left in the ground, shares in fossil fuel companies will drop significantly in value [8]. As such, pension funds currently investing in fossil fuels risk exposure to this 'carbon bubble', while there is already evidence that fossil fuel-free portfolios are capable of out-performing those including fossil fuel investments [9]. For in depth analyses of these and related risks, see: http://gofossilfree.org/frequently-asked-questions/ http://www.carbontracker.org/ http://www.theguardian.com/environment/fossil-fuel-divestment References: [1] http://greenwich.greenparty.org.uk/news/council-fossil-fuel-divestment.html [2] http://gofossilfree.org/commitments/ [3] http://www.nature.com/nature/journal/v517/n7533/full/nature14016.html [4] http://www.shell.com/global/future-energy/arctic/exploration-production.html [5] http://www.ncdc.noaa.gov/sotc/summary-info/global/201412 [6] http://www.nrdc.org/globalwarming/climate-change-impacts/ [7] http://www.fossilfreemit.org/wp-content/uploads/2014/08/FossilFreeMIT-Lobbying-Disinformation.pdf [8] http://www.carbontracker.org/wp-content/uploads/2014/09/Unburnable-Carbon-Full-rev2-1.pdf [9] https://www.msci.com/resources/factsheets/index_fact_sheet/msci-acwi-ex-fossil-fuels-index-gbp-gross.pdf
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    Created by Mark Horowitz