Copenhagen Set to Divest Funds Out of Coal, Oil and Gas Holdings
The city of Copenhagen is set to become the latest recruit to the unstoppable divestment movement, with its plan to sell off the coal, oil and gas assets of its 6.9 billion Krone (€1.29 bn) investment fund.
The Danish capital will join a movement worth more than $3.4 trillion worldwide, following Norway's capital Oslo and non-European cities such as Newcastle, Australia, as well as more than 500 institutions, universities, banks, companies and thousands of people, who have already pulled their money out of dirty energy.
With fossil fuels recognized as high-risk, volatile, toxic investments, the Paris Agreement signaling global recognition of the inevitable transition to clean energy and renewables booming and boosting economies worldwide worldwide, Copenhagen may be the latest ambassador for the divestment movement, but it will not be the last.
- The divestment movement is growing across the world. What started with a few U.S. universities has grown to become the fastest growing divestment movement in history, representing $3.4 trillion in assets. Yet the fossil fuel sector is still being funnelled vast amounts of public money. The faster governments move to end their association with fossil fuels and phase out subsidies, the sooner the final nail will be in the coffin of polluting and harmful coal, oil and gas.
- Divesting from fossil fuels makes economic sense and is a “moral imperative." Experts like the Bank of England's Mark Carney have warned of the risks of tying money up in coal, oil and gas, and the G20's Financial Stability Board is putting together a new global task force to track climate-related financial risk. Finances aside, keeping polluting, harmful fossil fuel behemoths afloat is simply not compatible with a safe, healthy future.
- To reap the rewards of renewables, ambitious and steady EU policy is crucial. As investors flee fossil fuels, renewables are booming in much of the world: at the Paris climate summit major projects were announced from India's "solar alliance" to Africa's plan to reach 300GW of renewables by 2030. Europe, the former clean energy front-runner, risks missing out on huge investments unless it ensures it has stable and ambitious climate and energy policies.
YOU MIGHT ALSO LIKE
By James O'Hare
There are 20 million people in the world facing famine in South Sudan, Somalia, Nigeria and Yemen. In developed nations, too, people go hungry. Venezuela, for instance, is enduring food insecurity on a national level as a result of economic crisis and political corruption. In the U.S., the land of supposed excess, 12.7 percent of households were food insecure in 2015, meaning they didn't know where their next meal would come from.
Artists are taking the climate crisis into frame and the results are emotional, beautiful and stirring.
So you've seen the best climate change cartoons and shared them with your friends. You've showed your family the infographics on climate change and health, infographics on how the grid works and infographics about clean, renewable energy. You've even forwarded these official National Oceanic and Atmospheric Administration graphs that explain the 10 clear indicators of climate change to your colleagues at the office.
As the Trump administration moves full speed ahead on boosting the oil and fossil fuel industry, opposition to increased pipeline construction is cropping up in different communities around the country.
By Simon Evans
Last Saturday, two dead whales washed up on the coast of Suffolk, in eastern England, and a third was spotted floating at sea.
What happened next illustrates how news can spread and evolve into misinformation, when reported by journalists rushing to publish before confirming basic facts or sourcing their own quotes.
By Monica Amarelo and Paul Pestano
Sun safety is a crucial part of any outdoor activity for kids, and sunscreen can help protect children's skin from harmful ultraviolet rays. Kids often get sunburned when they're outside unprotected for longer than expected. Parents need to plan ahead and keep sun protection handy in their cars or bags.
By Joe McCarthy
A lot of people take part in community clean-up efforts—spending a Saturday morning picking up litter in a park, mowing an overgrown field or painting a fence.
A coalition of conservation groups and others announced Thursday that a historic number of comments and petitions of support have been submitted to the U.S. Department of the Interior in support of Bears Ears National Monument. Despite the entirely inadequate 15-day comment period ending on May 26, more than 685,000 comments in support of Bears Ears National Monument have been collected.