Quantcast
Environmental News for a Healthier Planet and Life

Help Support EcoWatch

Citing Climate Change, Ethical Reasons, New Zealand Town Divests From Fossil Fuels

Energy

Dunedin is closer to Antarctica than it is to the U.S., but this city in New Zealand today joined 23 U.S. cities and one Dutch town by announcing that it will divest from fossil fuels.

The Dunedin city council voted on Tuesday to remove existing fossil fuel extraction investments—close to $2 million—and prevent future investments in fossil fuels by its $75 million Waripori fund. The move sees Dunedin City become the first New Zealand city to divest from fossil fuels for ethical and climate change reasons.

This move by the council comes at a time when the conservative New Zealand Government, led by Prime Minister John Key, has been pushing desperate plans to expand fossil fuel extraction across New Zealand. Yet this vote, along with the divestment announcements last September by five Anglican Dioceses in New Zealand, and the months of campaigning to halt the Denniston Coal Mine and offshore oil drilling reflect a growing disquiet with the government’s fossil fuel plans.

In recent months the Australian owned bank, Westpac, has also come under pressure to take steps to divest. Climate campaigning groups 350 Aotearoa—the New Zealand arm of 350.org—and Coal Action Network Aotearoa, are specifically calling on Westpac to halt its funding of Bathhurst Resources, whose planned coal mining project on the Denniston Plateau and surrounds would be one of the largest new contributors to carbon dioxide (CO2) emissions from New Zealand.

“It’s time for Westpac to front up and take responsibility for the impacts of their financing, like Dunedin has today,” said 350 Aotearoa National Coordinator Ashlee Gross. “Financing oil, coal and gas companies is playing a major role in determining whether these companies go ahead with plans that would push us well past safe CO2 levels, or whether we start to get serious about the transition to clean energy.” 

This growing discontent locally has in recent weeks been backed by the rapidly growing global divestment movement. Last week, Stanford University announced plans to divest its $18 billion USD endowment fund from coal investments. Two weeks earlier, the world’s largest fund manager, BlackRock, announced plans to create a fund that will exclude fossil fuels.

The Dunedin city council's ethical investment policy will formally exclude the munitions, tobacco, fossil fuel extraction, gambling and pornography industries from its investment portfolio. With an investment policy like that, it sure makes living in Dunedin more tempting.

--------

YOU MIGHT ALSO LIKE

New Zealanders Say No to Offshore Drilling, Yes to Clean Energy

Australians Divest From the Big Four Banks That Fund Fossil Fuel Projects

Students Stage Day of Action as Harvard University Refuses to Divest From Fossil Fuels

--------

EcoWatch Daily Newsletter

The Yersinia pestis bacteria causes bubonic plague in animals and humans. Illustration based on light microscope image At 1000x. BSIP / UIG Via Getty Images

A herdsman in the Chinese autonomous region of Inner Mongolia was diagnosed with the bubonic plague Sunday, The New York Times reported.

Read More Show Less
Plant pathologist Carolee Bull works in her home garden in State College, Pennsylvania. Carolee Bull, CC BY-ND

By Matt Kasson, Brian Lovett and Carolee Bull

Home gardening is having a boom year across the U.S. Whether they're growing their own food in response to pandemic shortages or just looking for a diversion, numerous aspiring gardeners have constructed their first raised beds, and seeds are flying off suppliers' shelves. Now that gardens are largely planted, much of the work for the next several months revolves around keeping them healthy.

Read More Show Less
Hotter temperatures have been linked to a rise in energy poverty, with more people struggling to meet their energy bills from their household income. Flickr / CC by 2.0

By Emma Charlton

The effects of climate change may more far-reaching than you think.

Hotter temperatures have been linked to a rise in energy poverty, with more people struggling to meet their energy bills from their household income, according to a new study published on ScienceDirect by researchers from Italy's Ca' Foscari University.

Read More Show Less
Naegleria fowleri (commonly referred to as the "brain-eating amoeba") is a free-living microscopic amoeba (single-celled living organism). Centers for Disease Control

As if the surging cases of coronavirus weren't enough for Floridians to handle, now the state's Department of Health (DOH) has confirmed that a person in the Tampa area tested positive for a rare brain-eating amoeba, according to CBS News. The Florida DOH posted a warning to residents to remind them of the dangers of the rare single-celled amoeba that attacks brain tissue.

Read More Show Less

Scientists are urging the WHO to revisit their coronavirus guidance to focus more on airborne transmission and less on hand sanitizer and hygiene. John Lund / Photodisc / Getty Images

The World Health Organization (WHO) is holding the line on its stance that the respiratory droplets of the coronavirus fall quickly to the floor and are not infectious. Now, a group of 239 scientists is challenging that assertion, arguing that the virus is lingering in the air of indoor environments, infecting people nearby, as The New York Times reported.

Read More Show Less
Along the northern shores of the Gulf of Mexico, oysters live in coastal estuaries where saltwater and freshwater meet and mix. Flickr / CC by 2.0

Along the northern shores of the Gulf of Mexico, oysters live in coastal estuaries where saltwater and freshwater meet and mix.

Read More Show Less

Trending

Japan Self-Defense Forces and police officers join rescue operations at a nursing home following heavy rain in Kuma village, Kumamoto prefecture on July 5, 2020. STR / JIJI PRESS / AFP / Getty Images

Scores of people remained stranded in southern Japan on Sunday after heavy rain the day before caused deep flooding and mudslides that left at least 34 people confirmed or presumed dead.

Read More Show Less