British-based oil and gas giant BP set the most ambitious climate goal of any company in its industry yesterday when it announced that it will eliminate or offset all of its greenhouse gas emissions by 2050, according to The New York Times. Its ambitious plans included offsetting the burning of oil and gas it takes […]
The Guardian became the first major international newspaper to put an outright ban on accepting money from the fossil fuel industry, citing the industry’s “decades-long effort” to subvert, undermine and prevent action to stop the climate crisis, according to The Hill. The move was announced on Wednesday and went into effect immediately. It is the […]
By Andrea Germanos Respected medical journal The BMJ drew praise online from climate activists and medical professionals for its newly-announced fossil fuel divestment campaign. “Thank you for your leadership,” pediatrician and child psychiatrist Elizabeth Pinsky wrote Friday on Twitter. The case for divestment from fossil fuels is clear. We call on health professionals and medical […]
BlackRock, an investment fund that manages nearly $7 trillion, will “reshape” its strategy toward investments that support environmental sustainability, according to a letter to investors from its founder and Chief Executive Larry Fink, as The New York Times reported. In the letter, Fink wrote, “Climate change has become a defining factor in companies’ long-term prospects […]
Shareholders of one of Europe’s biggest banks are pushing for it to stop investing in fossil fuels, in the first shareholder action of its kind targeting a European bank. Eleven of Barclays institutional investors representing £130 billion in assets have filed a resolution to be voted on at the bank’s annual general meeting in May. […]
Goldman Sachs, one of the world’s largest investment banks, gave a minor victory to the divestment movement by declaring that it will not fund an new arctic oil explorations, as CNN reported. Citing the importance of the Arctic’s fragile ecosystem and its importance to indigenous populations, the investing giant said it will decline investing in […]
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.” The bank’s board made the decision at a meeting on Thursday, CNBC reported. “Truly amazing win,” tweeted environmentalist Bill McKibben. […]
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. In a joint op-ed in the Los Angeles Times, Jagdeep […]
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. MP Pension, a $20 billion pension for Danish M.A’s, M.Sc.’s and Ph.D’s who are employed in public sector universities and upper secondary schools, said […]
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