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  • 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
  • Divest Southwark Council’s Pension Fund from Fossil Fuel Investments
    UPDATE: In December 2016 Southwark Council made a commitment to divest from fossil fuels. We are now working with them to follow through on this commitment. Climate change is the greatest challenge humanity has encountered. The 20 hottest years on record have all occurred since 1981 and 2014 was the hottest ever [2]. Higher average temperatures are directly linked to extreme weather events such as heatwaves, droughts, floods and storms. In the UK, January 2014 was the wettest in 250 years [3]. Scientists have unanimously concluded that these changes are a consequence of human activity, arising from the burning of fossil fuels [4]. Moreover, this activity has resulted in unprecedented levels of air pollution, now regarded as a major world killer [5]. In Southwark, over 100 people die prematurely each year owing to poor air quality [6]. If global warming is to have a chance of staying below a 2°C rise upon pre-industrial temperatures (a limit already considered dangerous), up to 80% of known fossil fuel reserves must be kept in the ground [7]. All available evidence suggests that fossil fuel companies intend to burn the reserves within their control, taking us substantially over the 2°C limit [7]. Moreover, companies such as Shell are actively trying to discover new reserves, often in environmentally sensitive regions [8]. In addition, the fossil fuel industry has been a divisive influence in preventing meaningful legislation on climate change through their intensive lobbying of decision makers and funding of disinformation campaigns [9]. 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 these destructive activities and legitimising this action through their tacit support of fossil fuel companies. Southwark’s investments in fossil fuel companies The Southwark Pension Fund consists of £1.2 billion worth of assets [10]. Based on publicly available metrics and the 2014/15 annual report for the Pension Fund, we have conservatively determined that at least £60.6 million pounds within this fund is invested in fossil fuel companies, including: Shell, BP, BHP Billiton, Exxon Mobil, Chevron and Total [10,11]. A recent authoritative financial analysis has demonstrated that across more than 6,000 pension and hedge funds, investors who divested from fossil fuel companies would have earned a 1.2% greater average return since 2010, when compared to conventional investors [12]. Moreover, in the long term these fossil fuel investments will become increasingly unprofitable as the cost of extraction and international treaties restrict the use of fossil fuels [7]. Not only does it make moral sense not to invest in the destruction of our planet, it is also financially prudent. Aligning Southwark’s investments with its values Southwark Council have been exemplary in supporting environmentally sustainable practices. For example, the borough has the highest percentage of Eco-Schools of any local authority in England [13] and in 2010 was awarded £4.35 million for a cavity wall insulation project in 5,000 council homes to both alleviate fuel poverty and reduce energy consumption [14]. Southwark Council has committed to reducing borough wide CO2 emissions by 22.4% by 2020 and 80% by 2050 and states “that energy should be supplied as much as possible from renewable sources on-site or locally. This is less wasteful and will reduce our reliance on remote sources of energy, including imported oil and gas” [15]. Continuing to invest in the fossil fuel industry contradicts the positive steps taken by Southwark Council to lower its environmental impacts. Southwark residents are at risk of climate change, including an increased risk of flooding and elevated levels of air pollution [16], as well as damage to the London economy [17]. It is illogical to allow pension funds to endanger those whose futures they seek to protect. The London Assembly recently passed a motion in favour of divestment and by divesting from fossil fuels, Southwark will join forward thinking institutions, including The British Medical Association, Glasgow University and City Councils such as Oxford and Bristol, amongst many others, in leading by example to help create a sustainable future for the citizens of Southwark and beyond. References [1] http://tinyurl.com/lmskfgk [2] http://tinyurl.com/n4dbbx8 [3] http://tinyurl.com/pw2c42v [4] http://tinyurl.com/3e3zv [5] http://tinyurl.com/pqgdd5q [6] http://tinyurl.com/m2pxrx2 [7] http://tinyurl.com/na7xywd [8] http://tinyurl.com/k5knzss [9] http://tinyurl.com/lswg6w7 [10] http://tinyurl.com/pezzajy [11] http://gofossilfree.org/uk/pensions/ [12] http://tinyurl.com/ls7vh24 [13] http://tinyurl.com/lzgwro4 [14] http://tinyurl.com/luwj97o [15] http://tinyurl.com/m5rlfwk [16] http://tinyurl.com/kttxfc5 [17] http://tinyurl.com/n467mgw
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    Created by Tytus Murphy Picture
  • Campaigning for Northumberland's council pension fund to divest
    With only 12 years left to drastically reduce CO2 emissions we simple do not have time to continue to fund companies who continue to burn fossil fuels
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    Created by Sarah Smith
  • Divest Somerset County Council Pension Fund from fossil fuels
    Somerset - on the front line of climate change. Climate Change has caused, and is predicted to cause, a much greater risk of flooding and extreme weather. After the devastating floods of the Somerset Levels in 2013 Somerset County Council saw the terrible impact of climate change first hand. The Council recognises the potential impacts of climate change yet its pension fund invests £121,505,000 in the very fossil fuel companies that are causing climate change ! Yes, 8.3% of the fund, the 10th highest % in the UK, invested in the problem ! We can't afford to burn 80% of the world’s coal, oil and gas reserves if we want to keep climate change below the 2oC 'tipping point'. As governments begin to regulate more closely after the Paris COP agreement, cheaper renewables and oversupply of crude oil globally will see the value of fossil fuels plummet, reserves will become 'stranded assets' and the share price will drop. This makes investing in fossil fuels increasingly risky for all stakeholders. Financial experts, including the Bank of England, Goldman Sachs, Standard and Poor's and AXA, have warned of the economic risk that climate change policies pose to fossil fuel companies. Somerset County Council needs to be ahead of the curve to safeguard the future pensions of all its shareholders. Somerset County Council recognises that it must do whatever it can to tackle climate change and it has a responsibility to divest from an industry that jeopardises the future of our planet. Yet the short term financial gain that the Pension Fund Committee hopes to achieve comes at the risk of financial loss and a cost to people and planet. We hope Somerset County County Council pension trustees are aware of September’s UNEP Finance Initiative Report, Fiduciary Duty in the 21st Century – which concludes that: "Failing to consider long-term investment value drivers, which include environmental, social and governance issues, in investment practice is a failure of fiduciary duty.” Instead of fossil fuel investment, SCC Pension Fund Committee should invest in solutions to climate change, investments that protect pensions and planet, joining The British Medical Association, Bristol City Council and Oxford City Council who have all recently agreed to make the commitment to no direct investment in the fossil fuel industry. Globally Somerset County Council would join over 400 institutions and 2000 individuals with an asset base of $2.6 trillion who are already divesting across the world. Time is running out to stop runaway climate change, (2) it make no moral or economic sense to invest in fossil fuels. The time to change was 30 years ago but massive divestment now is a key part in getting to zero emissions by 2030 and having a chance. Please sign the petition and encourage others to do so. (1) http://math.350.org/ 350.org has revealed how much every UK council invests in fossil fuels. Petition from Cllr Shane Collins, Leader of the Green Group on Mendip Council, East Mendip Green Party, South Somerset Green Party. (2) Kevin Anderson https://www.science.su.se/english/about-us/calendar/the-gordon-goodman-memorial-lecture-2017-kevin-anderson-1.341476
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    Created by Cllr Shane Collins Picture
  • Vœu pour un engagement de Vannes contre les investissements contribuant au changement climatique
    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 Vannes a la responsabilité de protéger la vie et l'environnement de ses habitants des conséquences du changement climatique ;
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    Created by Karine GL Picture
  • 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.
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    Created by Jen Cronin
  • Divest Cornwall
    Watch this brilliant one and half minute film explaining the petition: https://www.youtube.com/watch?v=Xa8CBI-dltE Further background information: 195 nations have agreed (at COP21 in Paris, December 2015) that to increase global temperatures beyond 2 degrees celsius would be CATASTROPHIC. This means dramaticly cutting our our carbon emissions, and keeping most of the known fossil fuels in the ground - Watch this for the IMPERATIVENESS of the situation: "Do the Math" at http://math.350.org/ bear, and this "Al Gore, Why I am optimistic about Climate Change" at https://www.ted.com/talks/al_gore_the_case_for_optimism_on_climate_change for an injection of impetus! Quite apart from the moral imperative to look after the planet that is our home (and that of the children of all species - not just our own!) Fossil fuel investments are losing value, and, according to many analysts, are on the verge of haemoraging. The governor of the Bank Of England has suggested divesting from fossil fuels as a wise financial move, and the Rockefeller foundation - founded upon fossil fuels, recently announced that they are divesting. "The leading argument by financial analysts is that, with emerging regulation to curb global temperature increases and growing competition from low-carbon energy sources, there is a real risk of “stranded assets” and “unburnable carbon”. “Stranded assets“, as coined by the Carbon Tracker Initiative, refers to assets that lose their value or turn into liabilities before the end of their economic life cycle. Such an outcome is expected of much of the world’s fossil fuel reserves, a large percentage of which is said to be unburnable (over 80% of coal, 50% of gas and 30% of oil) if we are to stay within the 2°C globally agreed threshold." From: http://www.blog.clientearth.org/why-pension-fund-trustees-must-consider-climate-risk/ ______ To grasp the seriousness of the climate crisis, you just need to do a little maths: Fossil fuel corporations have 5 times more oil, coal and gas in known reserves than the most conservative climate scientists think is safe to burn. Therefore we have to keep at least 80% of their fossil fuels underground to keep the earth in anything resembling livable shape. Despite this fact, fossil fuel companies continue to explore for more fossil fuels because, with our current economic system, the amount of reserves they have determines their share value. This exploration is potentially devastating for the environments where it occurs - imagine the DeepWater Horizon disaster in the hostile and treacherous seas of the Arctic - a scenario the US government gives a 75% chance of occuring. or the total devastation of Canada's Tar sand fields in Lancashire... By selling off their shares in fossil fuel companies, large institutions, like Cornwall Council, can use their financial clout to prevent such exploration from occurring, and help to keep the "oil in the soil, and the coal in the hole" If you want more detail: at current levels of Carbon dioxide emission, we have less than 15 years before crossing a dangerous threshold (2 degree celsius rise in global temperature) that almost every government in the world has agreed would be unsafe. We humans have already raised the temperature .8°C with the carbon dioxide already emitted, and that has caused far more damage than most scientists expected. A third of summer sea ice in the Arctic is gone, the oceans are 30 percent more acidic, and since warm air holds more water vapor than cold, the climate dice are loaded for both devastating floods and drought. Scientists estimate that humans can pour roughly 565 more gigatons of carbon dioxide into the atmosphere and still have some reasonable hope of staying below two degrees. Computer models calculate that even if we stopped increasing CO2 levels now, the temperature would still rise another 0.8 degrees above the 0.8 we’ve already warmed, which means that we’re already 3/4s of the way to the 2 degree limit. For much greater detail - see the film "Do the Math" at http://math.350.org/
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    Created by David SmartKnight
  • Die Stadt Heidelberg soll sich zu einem klimafreundlichen Finanz- und Anlagemanagement bekennen
    Begründung: Spätestens die Dürre dieses Sommers hat uns gezeigt, dass der Klimwandel mitten in Deutschland angekommen ist. Wir haben einen ersten Vorgeschmack bekommen, welchen Druck der Klimawandel auf unsere Landwirtschaft und Gesellschaft ausüben kann. Die extemen Unwetter häufen sich hierzulande genauso wie die "Jahrhundertstürme" an den Küsten Amerikas und Asiens. Allein für Deutschland rechnet die Münchener Rückversicherung bis 2050 mt 800 Milliarden Euro Klimafolgeschäden. Hunderte Millionen von Menschen in den Ländern des globalen Südens sehen das Land unter ihren Füßen durch die Ausbreitung der Wüsten und den Anstieg des Meeresspiegels bedroht. Die Weltbank beziffert die Anzahl der Klimaflüchtlinge bis 2050 mit 140 Millionen. Die internationale Staatengemeinschaft hat sich, um die katastrophalen Folgen eines noch gefährlicheren Klimawandels abzuwenden, 2015 in Paris verpflichtet, alles in ihrer Macht stehende zu unternehmen, um die Erderwärmung deutlich unter zwei Grad Celsius zu begrenzen. Die Ziele, die sich die Staaten allerdings auferlegt haben, führen uns auf einen Pfad, der bis 2100 eine Erwärmung um über 3 Grad Celsius bedeutet. Um die Klimakrise noch aufhalten zu können, müssen die Klimaschutzbemühungen der Staaten also deutlich verschärft werden. Der bestehende wissenschaftliche Konsens besagt, wenn wir den Temperaturanstieg unter 2°C halten wollen, müssen wir dafür sorgen, dass 80% der bekannten Vorkommen fossiler Brennstoffe unter der Erde bleiben. Erdöl-, Kohle- und Gaskonzerne verheizen aber weiterhin ohne Rücksicht auf unsere Lebensgrundlagen und auf zukünftie Generationen in alarmierendem Tempo die bestehenden Vorkommen und geben Milliarden aus, um noch mehr fossile Brennstoffe zu finden. Dabei schrecken sie auch nicht vor hochriskanten und umweltzerstörenden Methoden wie Fracking, Mountain Top Removal, Tagebau, Offshore Drilling und dem Abbau von Teersanden zurück. Daraus ziehen viele dem Gemeinwohl und der Gesellschaft verpflichtete Akteure, wie Städte Kommunden, Universitäten, Kirchen, Stiftungen und auch FInanzinstitute bereits Konsequenzen. Sie investieren nicht mehr in fossile Energien und in Unternehmen, die fossile Energieträger erschließen, abbauen oder verfeuern. Das ist der Grundgedanke von Fossil Free! In Deutschland haben sich unter anderem schon Göttingen, Münster, Berlin, Bremen und die Universitäten Göttingen und Münster dem Divestement angeschlossen. Es ist nun an der Zeit für die Stadt Heidelberg, den Aufruf der Brügermeister von London, Sadiq Khan, und New York, Bill de Blasio, zu hören und sich öffentlich und verbindlich zu einem klimafreundlichen Finanz- und Anlagemanagement zu bekennen. Mehr Informationen unter: https://fossilfreeheidelberg.stura.uni-heidelberg.de/
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    Created by LIsa-Marie Zoller
  • Divest Frederick from Fossil Fuels!
    Our local government has a responsibility to divest from an industry that’s destroying our future, and reinvest in solutions to climate change. We can not count on the federal government, even as extreme weather events like the record rain fall in the Duluth area last Spring overwhelm local budgets. 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 governments that care about their citizens. Solving the climate crisis is the only practical choice for governments that care about their solvency. It's time to divest from fossil fuels now!
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    Created by Charlotte Wood
  • Stop aux investissements de la ville de Bordeaux 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 « "encourage 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 pour maintenir le réchauffement sous la 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 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 la ville de Bordeaux a la responsabilité de protéger la vie et l'environnement de ses habitants des conséquences du changement climatique, cette demande de stopper les investissements dans les énergies fossiles est tout à fait légitime. Cette pétition est lancée dans le contexte de la journée internationale du Climat du 8 septembre 2018, plus d'informations sont disponibles sur https://fr.riseforclimate.org/
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    Created by Il Est Encore Temps Bordeaux