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The European Investment Bank will stop lending for fossil fuel projects. ForgeMind Archimedia / CC BY 2.0

By Eoin Higgins

Climate activists celebrated Thursday the decision of the European Investment Bank to stop funding most oil and coal projects by 2021, part of a bid to be the world's first "climate bank."

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A protestor holds up her hand covered with fake oil during a demonstration on the U.C. Berkeley campus in May 2010. Justin Sullivan / Getty Images

The University of California system will dump all of its investments from fossil fuels, as the Associated Press reported. The university system controls over $84 billion between its pension fund and its endowment. However, the announcement about its investments is not aimed to please activists.

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EcoWatch Daily Newsletter

Aerial view of Denmark's Baltic Sea Coast. schneider_photografie / Pixabay

A Danish pension fund has said it would sell its stake in major oil companies as their business models are incompatible with the goals set out in the Paris climate agreement.

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Waterloo Bridge during the Extinction Rebellion protest in London. Martin Hearn / Flickr / CC BY 2.0

Money talks. And today it had something to say about the impending global climate crisis.

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Pixabay

By Andy Rowell

The beginning of the end of the age of oil moved a step closer Friday, with Norway's government recommending that its $1 trillion wealth fund should divest from upstream oil and gas producers.

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Matt Remle, far left, and the organization Mazaska Talks led months of protests at Seattle's pipeline- and tar-sands-funding banks: Chase, Wells Fargo, Bank of America, TD Bank and US Bank. Alex Garland

By Deonna Anderson

In February 2017, Seattle became the first city to pass legislation to divest from a financial institution because of its role in funding the Dakota Access pipeline.

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The Overpass Light Brigade at Bascom Hall in Madison, Wisconsin on April 4, 2014. depthandtime / Flickr

By Jake Johnson

While the COP24 climate talks are at risk of ending without a concrete plan of action thanks in large part to the Trump administration's commitment to a dirty energy agenda, environmental groups on Thursday celebrated a major milestone in the global movement to take down the fossil fuel industry after the number of public and private institutions that have vowed to divest from oil, gas and coal companies surpassed 1,000.

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Pixabay

Ireland's landmark Fossil Fuel Divestment Bill passed the Seanad, or upper house, on Thursday, putting the Emerald Isle on track to become the first country in the world to divest from fossil fuel-related funds.

The bill—which requires the Ireland Strategic Investment Fund to sell off about €318 million ($361 million) investments in coal, oil, gas and peat assets over a five year period—now heads to President Michael D. Higgins for signature, where it will likely become law by the end of the year, according to the Irish Times.

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A message to the Irish government to divest from fossil fuels is spelled out in lights in front of the lower house of parliament. Sasko Lazarov / 350.org

Ireland took a major step Thursday towards becoming the first country in the world to divest from fossil fuels, NPR reported.

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Peruíbe, Brazil. 350.org

Groups of citizens have been organizing worldwide to fight against fossil fuel industry's negative impacts on their lives. These impacts are either direct—through expropriations of land and development of infrastructure against the will of the population—or indirect—through their role in the sharp increase of climate-altering emissions threatening health and livelihoods worldwide.

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500 students, faculty, alumni, and community members march though Harvard Yard at the "The Tide Is Turning" rally. 350.org

Kathryn "Kat" Taylor, a member of the Harvard Board of Overseers and wife of billionaire climate activist Tom Steyer, made an unprecedented public call on Harvard University to divest from fossil fuel stocks.

The action comes after the university's $37.1 billion endowment—the world's largest academic fund—reported a lackluster 8.1 percent return that reflected "deep structural problems" that will take years to turn around, its endowment manager said.

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