Divesting from fossil fuel, the price of oil, the profits from fossil fuel, and other climate change aspects of the global economy

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'Fossil Free Uk' reports that just over 100 UK organisations have now committed to divest away from fossil fuel companies.

'Fossil Free Uk' reports:

"With political unrest around the world and climate impacts intensifying daily, now more than ever we need to stand up to protect our shared environment and be active in shaping a just society.

The divestment movement offers glimmers of hope that when people come together and get organised, we can win victories for justice and climate action. This December:

Just 3 short years ago, Louise Hazan was one of a handful of organisers preparing to board a tour-bus to launch the Fossil Free Europe campaign in the UK, Netherlands and Germany. They had one simple message: if it’s wrong to wreck the climate, it’s wrong to profit from that wreckage.

Over 80,000 people right across Europe have joined this movement to divest our public institutions from fossil fuels, by signing petitions, lobbying decision-makers and taking creative actions onto the streets.

How to challenge your pension fund to carry out its legal duty to take account of climate risks, whether you are already drawing your pension or still paying into one, and whether it's a private pension, a company pension scheme or local government pension.

Campaigning to urge business and financial institutions to divest from fossil fuels - is it worthwhile, and how to do it - with links

At ExxonMobil's recent AGM, shareholders rejected all resolutions on climate change, including from the Church of England's investment body. As engagement is not working, Fossil Free now calls on the Church of England to divest from all fossil fuel companies.

An all-party Parliamentary group has been set up to look at whether economic growth is always a good thing or whether there are environmental and social limits beyond which further growth is too risky. Find out more

Banks and regulators around the world are putting growing pressure on companies.

In his role as Chair of the Financial Stability Board (FSB), Governor of the Bank of England Mark Carney has sent a letter to G20 finance ministers identifying tackling climate related risks as a priority for 2016.

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Events

There are no forthcoming events in this category at present. Please see the all events page for more.

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Using your influence is potentially the most powerful way you can combat climate change. Spread the word among family, friends and colleagues. And remember that governments and businesses do take notice of what their voters and customers want - make your voice heard!

Parent topic

National and global issues, and campaigns you might want to support. WinACC can't keep up-to-date with all that's happening - if you want to keep abreast of national and global politics on climate change, there are many websites and twitter accounts such as Climate Home, or the Friends of the Earth policy blog

Divestment, big business and the economy

See the reports from WinACC's November 2015 meeting, Saving for good: using our money responsibly.

This paper on divestment in fossil fuels is authored by David Knight and reflects his personal views and opinions

Divestment is  the selling up of all fossil fuel share holdings.  However it is currently difficult to decide which fuel should have priority for this. Four main reasons have been suggested for divesting from fossil fuels: