Nearby Petitions

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  Voeu pour que la Métropole de Lyon s'engage pour le désinvestissement des énergies fossiles

  La Métropole de Lyon doit s’associer pleinement à la campagne de « désinvestissement des énergies fossiles » désormais mondialement connue et initiée par le mouvement « 350.org », celle-ci étant relayée par de nombreuses associations dans le monde entier dont le Center for International Environmental Law, Greenpeace, France Nature Environnement, Réseau Action Climat et Notre affaire à tous. Partant du constat que certaines organisations favorisent le dérèglement climatique et la raréfaction des ressources en détenant des investissements directs dans des entreprises du secteur des énergies fossiles, cett campagne a encouragé l’organisation d'actions visant à inciter nos institutions à initier une stratégie d’investissement socialement et écologiquement responsable. Les combustibles fossiles sont la première cause du dérèglement climatique et représentent 80% des émissions mondiales de C02 et 67% des émissions de gaz à effet de serre. En incitant le retrait des participations et placements financiers dans les énergies fossiles (charbon, pétrole et gaz), ce mouvement de désinvestissement entend rediriger ces capitaux vers la production d’énergies renouvelables. Le désinvestissement des énergies fossiles est donc une absolue nécessité. En effet, selon une étude de l’University College de Londres, il faudra renoncer à exploiter un tiers des réserves de pétrole, la moitié de celles de gaz et 82% de celles du charbon pour rester sous la barre d’une augmentation de la température moyenne de la planète de 2°C d’ici à 2100. Pour l’heure, plus de 800 villes, universités, musées et autres institutions à travers le monde, détenant un total de plus de 6 000 milliards de dollars d’actifs, ont pris part à cette campagne, à l’image des villes de New York et de San Francisco ou encore de l’université de Stanford, du Fonds souverain de Norvège, de la fondation Rockefeller Brothers, de la ville de Paris, elle-même rejointe par 34 collectivités locales françaises (parmi lesquelles les villes de Lille et de Bordeaux, la région Île-de-France, et le 1er arrondissement de la ville de Lyon). Cette vague de désinvestissement connaît une dynamique à laquelle la Métropole de Lyon doit prendre toute sa part, alors que nous avons la responsabilité de protéger la vie et l’environnement de tout.e.s les habitant.e.s de la Métropole de Lyon des conséquences du dérèglement climatique. La Métropole de Lyon doit saisir toutes les opportunités pour s’engager plus avant dans la transition énergétique de son territoire: la résilience énergétique suppose sobriété énergétique, efficacité énergétique et énergies renouvelables. C’est donc dans les rénovations énergétiques du bâti existant, dans le déploiement accru des énergies renouvelables et de récupération qu’il faut investir massivement — et non plus dans les énergies fossiles. C’est vers là que doivent être orientés les fonds qui seront dégagés par ce désinvestissement. Une « entreprise du secteur fossile » est définie comme toute entreprise appartenant à la liste des 200 entreprises qui possèdent les plus grandes réserves de charbon, de gaz et de pétrole, telles que listées par la « Carbon tracker initiative ». ll y a deux acteurs principaux à convaincre pour initier un changement au niveau de la Métropole : les fonds institutionnels et les banques. Gérés par la Caisse des Dépôts et Consignations, il y a différents systèmes de retraite dans lesquels cotisent les différents fonctionnaires, agents contractuels ou élus de la Métropole de Lyon. Nous pouvons notamment citer le RAFPR (Régime de retraite additionnelle de la Fonction Publique) ou encore l’IRCANTEC (Caisse de retraite complémentaire obligatoire des agents contractuels). Bien qu‘affichant souvent des stratégies d’investissement « socialement responsable et prenant en compte des critères environnementaux, sociaux et de gouvernance », ces différents fonds et caisses de retraite ont encore des actifs financiers dans des secteurs et des entreprises contribuant au dérèglement climatique. ll est donc crucial que ces fonds et caisses s’unissent à cette démarche de désinvestissement en se séparant de leurs participations et placements financiers qu’ils pourraient avoir dans les énergies fossiles. Source : Rapport de l'Observatoire des Multinationales et de 350.org "La Caisse des dépôts et consignations, financeur public des énergies du passé".

  548 of 600 Signatures

  Created by Comite du 5 mai Lyon
• Royal Holloway University of London Fossil Fuel Divestment

  It will prove that Royal Holloway is a leading educational institution, dedicated to its mission of 'agenda-setting research, which is addressing some of the world’s biggest cultural, social, scientific and economic challenges in innovative and impactful ways and distinctive range of programmes that are relevant to lifelong employment needs combine to provide real value for students, both while they are studying and in the opportunities that their Royal Holloway degree will bring them now and throughout their lives.' 200 publicly-traded fossil fuel companies hold the vast majority of the world’s proven coal, oil and gas reserves. Those are the companies we are asking Royal Holloway to break their links with These companies hold five times more carbon in their fossil fuel reserves than we can safely afford to burn to stop runaway climate change. Fossil fuel companies cause huge environmental and human devastation in the process of extracting and burning fossil fuels. Withdrawing Royal Holloway’s financial and moral backing for this climate-wrecking industry is crucial to tackling climate change.

  271 of 300 Signatures

  Created by Nik Wakefield
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  Divest New York State & Local Retirement Funds from Fossil Fuels

  As of July 2014, over 12,500 people from New York State have signed petitions calling upon Comptroller DiNapoli to divest the NYS Common Retirement Fund from all fossil fuel holdings. Over the past 5 years, diverse NYS citizens and stakeholders have expressed strong, informed opposition to hydro-fracking. Hydro-fracking is a form of extreme energy production which causes significant, irreversible harm. Simultaneously, citizens and stakeholders have called for rapid, full investment in and transition to truly green, renewable energy sources. We are extremely concerned about climate disruption (which is already negatively impacting NYS) and the future of all species on this fragile planet. The NYS Comptroller is responsible for administering the New York State and Local Retirement System (the Common Retirement Fund) for public employees. This System has more than one million members, retirees and beneficiaries and more than 3,000 employers; The NYS Comptroller acts as the sole trustee of the $164 billion Common Retirement Fund. NYS is one of the largest institutional investors in the world. "The State Comptroller is responsible for ensuring that the taxpayers’ money is being used effectively and efficiently to promote the common good." We formally request that no tax dollars held within the Comptroller's Office promote climate disruption, environmental degradation and suffering. We request that our tax dollars directly "promote the common good." We applaud the Comptroller for the Green Strategic Investment Program which invested $500 million over 3 years in clean technology and green energy. We ask for complete, rapid divestment from all fossil fuels. Divesting now, will immediately bring positive change.

  1,000 of 2,000 Signatures

  Created by Stacey Smith
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  DIVEST CARDIFF AND VALE OF GLAMORGAN PENSION FUND FROM FOSSIL FUEL INVESTMENTS

  Climate change is the greatest challenge humanity has encountered, not just environmentally but also economically, morally and socially. In order to avoid the catastrophic consequences of climate change, global warming must not exceed 2°C which means 80% of known fossil fuel reserves must not be used. Recent research, instigated by the Carbon Tracker foundation, asserts that there are five times more fossil-fuel reserves than can be burnt if internationally agreed carbon emissions targets are to be met. Fossil fuel equities also pose significant financial risks. As governments control carbon emissions to meet these targets a large proportion of fossil fuel reserves which companies expect to extract will become stranded assets: a “carbon bubble”. Funds which are exposed to fossil fuel equities when this bubble bursts can expect to suffer considerable losses. The Governor of the Bank of England, Mark Carney has recently expressed concerns over climate risk, stating that the “vast majority of reserves are unburnable” if global temperature rises are to be limited to below 2C (http://www.theguardian.com/environment/2014/oct/13/mark-carney-fossil-fuel-reserves-burned-carbon-bubble) Institutions around the world including local government, universities and churches are pulling out of fossil fuels investments and moving towards a cleaner energy future. By divesting from fossil fuels, the Cardiff & Vale of Glamorgan Pension Fund will join public institutions such as the British Medical Association, Glasgow University and Oxford City Council, amongst many others, in leading by example to help create a sustainable future for it's citizens. In support of this movement we ask you to sign and share our petition. Thank you for your support

  104 of 200 Signatures

  Created by Ellen Gibson
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  Keine öffentlichen Investitionen in fossile Brennstoffe: 38855 Wernigerode - Die bunte Stadt am Harz

  Sehr geehrter Oberbürgermeister Peter Gaffert Sehr geehrte Mitglieder des Gemeinderats, Die Stadt Wernigerode hat schon in der Vergangenheit besonderes Engagement im Klimaschutz gezeigt. Nun hat die Stadt Wernigerode wieder die Möglichkeit eine Vorreiterrolle im Klimaschutz einzunehmen. Zum Hintergrund: Der neuste, bindende Beschluß der Klimakonferenz in Paris und die Berichte des Weltklimarats sprechen eine deutliche Sprache. Wenn wir den Klimawandel auf unter 2º Celsius begrenzen wollen, darf der Großteil der fossilen Energiereserven wie Kohle, Öl und Gas nicht verbrannt werden. Alles andere würde eine Destabilisierung des Klimas mit katastrophalen Folgen für Mensch und Natur nach sich ziehen. Laut Weltklimarat, müssen Investitionen in fossile Energieträger jährlich um $30 Milliarden reduziert werden, während Investitionen in kohlenstoffarme Energiegewinnung um $147 Milliarden steigen müssen. Außerdem ist damit zu rechnen, dass Unternehmen im fossilen Sektor in den kommenden Jahren stark an Wert verlieren werden, weil sie ihre Rohstoffvorkommen nicht mehr fördern und verkaufen können. Die Finanzwelt spricht von einer Kohlenstoffblase, die kurz davor ist zu platzen. Damit stellen Investitionen in fossile Energien ein hohes finanzielles Risiko dar. Die jüngsten Verluste von RWE und Eon verdeutlichen bereits heute, dass das Geschäftsmodell des fossilen Sektors nicht zukunftsfähig ist. Studien der Internationalen Energieagentur, der Universität Oxford sowie verschiedener Großbanken wie HSBC oder Citi warnen vor Investitionen in diesem Sektor. Überall auf der Welt beginnen daher Städte, Gemeinden, Kirchen, Universitäten, Stiftungen und andere Institutionen ihre Investments aus den 200 größten Kohle-, Erdöl- und Erdgasunternehmen abzuziehen. Ein solches Divestment erreicht zweierlei: Einerseits schützt es vor den Gefahren zukünftiger Wertverluste und sichert so nachhaltig die finanzielle Stabilität Ihrer Stadt. Andererseits entzieht es klimaschädlichen Unternehmen die gesellschaftliche Zustimmung und trägt so zu Wandel bei, der aufgrund der Klimakrise notwendig geworden ist. In den Vereinigten Staaten haben bereits 25 Städte verbindlich beschlossen ihre Anteile an Unternehmen des fossilen Sektors zu verkaufen. Darunter sind Großstädte wie San Francisco oder Seattle. Dagegen steht die Bewegung in Europa noch am Anfang. In den Niederlanden hat sich die Stadt Boxtel Ende 2013 als erste europäische Stadt verbindlich Divestment verschrieben. Wernigerode kann nun in Deutschland diese Vorreiterrolle einnehmen und zeigen, dass eine nachhaltige Finanzpolitik mit Rücksicht auf Natur und zukünftige Generationen möglich ist. Die globale Klimakampagne 350.org arbeitet mit Städten, Universitäten, Kirchen und anderen Institutionen in Europa, USA, Australien, Neuseeland, Kanada und Afrika zusammen, um gemeinsam gegen den Klimawandel und für eine lebenswerte Zukunft einzutreten. Ich hoffe, dass Sie Schritte einleiten, um: Keine neuen Investitionen in fossile Brennstoffe mehr zu tätigen Eigene Anteile an direkten und indirekten Investments innerhalb der nächsten 5 Jahre abzustoßen. Dazu gehören Aktien, Mischfonds, Unternehmensanleihen und sonstiges Kapital das Erdöl-, Erdgas- und Kohleunternehmen beinhaltet. Ich freue mich auf die Zusammenarbeit mit Ihnen und stehe Ihnen für Rückfragen zur Verfügung. Mit freundlichen Grüßen, Mathias Hartinger Quellenangaben 1. Intergovernmental Panel on Climate Change (IPCC) http://www.ipcc.ch/report/ar5/wg3/ 2. Artikel zum Finanzrisiko Kohlenstoffblase in der Zeit: http://www.zeit.de/2014/08/carbon-bubble-rohstoff-blase 3. Internationale Energieagentur. World Energy Outlook 2012: http://www.iea.org/publications/freepublications/publication/German.pdf 4. Smith School of Enterprise and Environment, Oxford. Stranded Assets Programme http://www.smithschool.ox.ac.uk/research/stranded-assets/ 5. HSBC, Coal and Carbon - Stranded assets: Assessing the risks https://www.research.hsbc.com/midas/Res/RDV?p=pdf&key=dXwE9bC8qs&n=333473.PDF 6. http://www.theguardian.com/environment/2013/apr/19/carbon-bubble-financial-crash-crisis 7. Liste der Top 200 Kohle-, Erdöl-, Erdgasunternehmen weltweit: https://docs.google.com/a/350.org/spreadsheets/d/1an9qOSE2uG4XuzeA4ltUVadDawheTWdJGKRpU5ayCJk/pubhtml 8. Eine Liste der Städte, Universitäten, Kirchen und anderer Institutionen die sich Divestment verschrieben haben: http://gofossilfree.org/commitments/

  21 of 100 Signatures

  Created by Mathias Hartinger
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  Kein Geld für Kohle, Öl und Gas - Erzbistum Freiburg soll Fossil Free werden

  Kohle-, Öl- und Gasunternehmen treiben die Klimakrise weiter voran und behindern seit Jahrzehnten Klimaschutzmaßnahmen. Es ist Zeit, dass unsere Institutionen Stellung beziehen und ihre Gelder aus fossilen Brennstoffen abziehen. Wir dürfen kaum noch fossile Brennstoffe verbrennen, damit sich die Erde, wie von den Regierungen im Pariser Klimaschutzabkommen vereinbart, nicht um mehr als 1,5 °C erwärmt. Wenn die derzeit bestehenden Kohle-, Öl- und Gasprojekte nicht frühzeitig beendet werden, werden die Temperaturen weltweit aufgrund der Emissionen um über 2 °C ansteigen. Das bedeutet, dass es keine neuen fossilen Brennstoffprojekte mehr geben darf und wir laufende Projekte stoppen müssen. Hunderte Glaubensgemeinschaften, Konfessionen und religiöse Einrichtungen weltweit engagieren sich im Bereich Klimaschutz und viele gehen Divestment-Verpflichtungen ein. Auch in Deutschland wird es Zeit, dass die Kirchen ihr Geld aus Firmen abziehen, die ihren Umsatz mit der Förderung fossiler Energieträger machen. Dass Kohle, Öl und Gas ersetzt werden müssen, sagt auch Papst Franziskus: „Wir wissen, dass die Technologie, die auf den sehr umweltschädlichen fossilen Brennstoffen – vor allem von Kohle, aber auch von Erdöl und…Gas – basiert, fortschreitend und unverzüglich ersetzt werden muss” (Papst Franziskus, Laudato Si, 165) Institutionen, die weiterhin in fossile Brennstoffe investieren, setzen öffentliche Gelder einem enormen finanziellen Risiko aus und unterstützen eine Branche, die aktiv Klimaschutzmaßnahmen behindert. Sie sollten stattdessen lieber den Ausstieg aus fossilen Brennstoffen unterstützen und in Technologien investieren, die eine emissionsfreie Energieversorgung ermöglichen.

  784 of 800 Signatures

  Created by Tamara Nausner
• A CALL TO DIVEST AVON PENSION FUND FROM FOSSIL FUELS

  There is strong evidence (1) that the impact on climate change of burning even the known reserves of fossil fuels will create an unsustainable environment for the generations to come, and untold suffering to countless living beings. This fact will impact negatively on the value of investments in the industries concerned with fossil fuel extraction. Using just the fossil fuel reserves listed on the world’s stock markets would be enough to take us beyond 2°C of global warming (2). This means that more than 80 per cent of the world's known coal reserves, 30 per cent of known oil and 50 per cent of gas reserves need to stay in the ground and drilling in the Arctic is out of the question if we're to stay below two degrees. Recent drops in the oil price add to the uncertainty surrounding fossil fuels and the financial viability of some extractions presenting opportunities to lessen our dependency on fossil fuels (3). In defiance of mainstream research evidence and international policy (4), fossil fuel companies continue to extract and burn as much carbon as possible to maximise their profits. Despite the very high probability of planetary disaster they show no intention of switching away from their core business model. Our local council has a responsibility to divest from an industry that’s destroying the very future for ourselves and for our children that personal investment in a pension seeks to enhance. Instead it should reinvest in solutions to climate change. We won’t see any political progress on climate change until we can weaken the power of the fossil fuel industry. Divestment for fossil fuel investments would also minimise the council's exposure to the financial risk of the 'carbon bubble', whereby shareholders risk being left with stranded assets (worthless fuel stocks that regulation will prevent from being burned). It is a paradox that pension funds providing income for the future should at the same time be investing in the fossil fuel industry which if left to its own devices will exploit more of the fossil fuel reserves than we can safely use! Institutions around the world including local government, universities and churches are pulling out of fossil fuel investments and moving towards a clean energy future (5) It's time to divest from fossil fuels and reinvest in clean energy now for inescapable moral and economic reasons. Bristol City Council have recently agreed to make a commitment to no direct investments in the fossil fuel industry and globally over 30 cities and municipalities have already committed to divestment. At present Bristol City Council’s funds are not directly linked to the fossil fuel industry. However, the Avon Pension Fund does have significant fossil fuel investments and so Bristol City Council would need to work with adjoining councils within the Avon Pension Fund to freeze and withdraw those investments. Shareholders (including pension funds) have started to challenge Exxon, Shell and BP to show how their business model is compatible with a 2 degree temperature rise (6). Some argue that engaging with fossil fuel companies is a more effective tactic than divestment. But Jonathon Porritt, one of the UK’s most esteemed environmentalists who spent years working on sustainability projects with BP and Shell, earlier this year said engagement was now futile because “hydrocarbon supremacists” at the companies had successfully ousted reformers wanting to diversify into green energy. Divestment, therefore, seems to be an unavoidable step to halting the damage and suffering which will ensue unless timely action is taken. 1 http://350.org/about/science/ 2 http://math.350.org/ 3 http://www.newscientist.com/article/mg22530043.100-over-a-barrel-falling-oil-prices-and-the-environment.html http://www.newscientist.com/article/mg22029415.700-an-oil-crash-is-on-its-way-and-we-should-be-ready.html#.VNI0c9kgGc0 4 http://www.ipcc.ch/ 5 http://zerocarbonbritain.org/index.php/zcb-latest-report 6 http://www.theguardian.com/environment/2015/jan/21/bp-challenged-confront-climate-change-risk-by-shareholders

  993 of 1,000 Signatures

  Created by richard lawrence
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  I ♥ BC Fossil Free

  It is simple: if it is wrong to destroy the planet, then it is wrong to profit from that destruction. Divesting from fossil fuel and tar sands companies supports Broward College's vision to "stand at the leading edge of technological and environmentally sound innovation." Divesting from fossil fuels also supports two of Broward College's core values: a commitment to sustainability by "ensuring efficient use of college resources while implementing fiscally sound practices and environmentally sustainable initiatives that can be modeled in collaboration with our community," and integrity "by fostering an environment of respect,dignity, and compassion that affirms and empowers all its members while striving for the highest ethical standards and social responsibility." In addition, Broward College's divestment from fossil fuel and tar sands companies also supports the Southern Association of Colleges and Schools Commission six core values: Integrity Continuous Quality Improvement Peer Review/Self-regulation Accountability Student Learning Transparency By divesting from the fossil fuel industry, Broward College can help to discredit the fossil fuel companies so that they loose their influence over our government. By joining the growing number of education institutions, churches, towns, and states across the country, Broward College can help bring pressure to bear on government and industry to act now to slow climate change and rising sea-levels which threaten the security of our land, food supply, drinking water, health, property values and the overall future of our planet.

  51 of 100 Signatures

  Created by Giovanni Bonelli
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  Divest Tower Hamlets

  Tower Hamlets Council currently has an estimated £91,764,000 invested in fossil fuel companies. This represents 8.76% of their fund. Ethically, environmentally and economically, there is no justification for such holdings. These investments directly undermine Tower Hamlets' own commitment to 60% reduction in carbon emissions by 2020 [2] as they are directly fueling ever riskier, costlier forms of extraction, which no longer represent the relatively bankable return they have been historically as the fossil fuel energy market grows ever more volatile. Climate change is the greatest crisis humanity has ever faced. The 20 hottest years on record have all occurred since 1981 and 2014 was the hottest ever [3] with 2015 on course to take that unenviable title [4]. Higher average temperatures are directly linked to extreme weather events such as intensified heatwaves; longer more arid droughts; wilder forest fires; stronger, more frequent storms and the resultant flooding; and glacier melt has increased drastically, which not only means rising sea-levels but more of the suns rays being absorbed rather than reflected back, causing a further increase in temperatures. Climate change does not just manifest itself in these ever worsening weather patterns. A recent study [5] attributed the record 2007 - 2010 drought in Syria as a reason for farmers abandoning their land for the city, where their presence has been a major factor in the social unrest that led to the war that has ravaged the country ever since [6]. We now see this being played out in the form of the humanitarian and political crises with which Europe is now struggling to cope. Such events are only going to increase as our shared world becomes hotter and drier. National borders are meaningless in the face of hostile weather. Moreover, worsening levels of air pollution are now regarded as a major world killer [7]. In Tower Hamlets an estimated 138 people a year die as a result of air pollution [8]. At the core of all these problems is the burning of fossil fuels. Scientists have unanimously concluded that these changes are a consequence of human activity, arising from the burning of fossil fuels [9]. The fossil fuel industry have taken a threefold approach to this. Firstly, they have spent significant amounts of money to create a body of disruptive disinformation campaigns that undermine climate science in the minds of the general public [10]. Secondly, they have created a lobbying juggernaut to flatten any political efforts to limit global warming [11]. Thirdly, they have expanded their business practice to focus on ever riskier, costlier and ultimately more disastrous extraction methods such as fracking and deep-water drilling; the latter having led to the largest marine oil spill in history [12]. 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 [13]. 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 [14]. 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 'Do The Math' documentary: https://youtu.be/KuCGVwJIRd0 References [1] http://fossilfreeindexes.com/research/the-carbon-underground/ [2] http://www.towerhamlets.gov.uk/lgnl/environment_and_planning/sustainability/carbon_reduction.aspx [3] http://www.ncdc.noaa.gov/sotc/summary-info/global/201412 [4] http://www.weather.com/news/climate/news/earth-warmest-january-may-2015 [5] http://www.pnas.org/content/112/11/3241 [6] http://news.nationalgeographic.com/news/2015/03/150302-syria-war-climate-change-drought/ [7] http://www.who.int/mediacentre/news/releases/2014/air-pollution/en/ [8] http://www.itv.com/news/london/2015-07-15/londons-toxic-air-how-is-your-london-borough-affected/ [9] http://www.ipcc.ch/pdf/assessment-report/ar4/syr/ar4_syr_spm.pdf [10] http://www.fossilfreemit.org/wp-content/uploads/2014/08/FossilFreeMIT-Lobbying-Disinformation.pdf [11] http://www.theguardian.com/environment/2015/mar/25/fossil-fuel-firms-are-still-bankrolling-climate-denial-lobby-groups [12] http://www.britannica.com/event/Deepwater-Horizon-oil-spill-of-2010 [13] http://www.carbontracker.org/wp-content/uploads/2014/09/Unburnable-Carbon-Full-rev2-1.pdf [14] https://www.msci.com/resources/factsheets/index_fact_sheet/msci-acwi-ex-fossil-fuels-index-gbp-gross.pdf

  1,133 of 2,000 Signatures

  Created by Patrick McFadden
• Divest West Midlands Pension Fund From Fossil Fuels

  Climate change is already causing massive destruction around the world. For the sake of all of our futures, we need to move away from fossil fuels and begin the transition to a clean and just energy economy, now. Many of the fossil fuel companies that West Midlands Pension Fund invests in have a poor environmental record, including ExxonMobil. ExxonMobil, the world's largest oil company, spilled 11 million gallons of oil off the coast of Alaska and plans to drill in the Russian Arctic with Rosneft. BP, another West Midlands Pension Fund investment, was responsible for the largest environmental disaster in U.S. history, the Deepwater Horizon oil spill on the Gulf of Mexico. Fossil fuel companies are also highly overvalued due to the assumption that all of their reserves will be burnt. But as policy catches up to climate realities, this overvaluation means there’s a multi-trillion dollar “carbon bubble” that’s poised to burst. This will greatly effect the value of our pensions if West Midlands continues to invest in fossil fuels. We know that 80% of current fossil fuel reserves must stay in the ground to prevent runaway climate change. We must act now!

  557 of 600 Signatures

  Created by Kay Edwards