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In this weeks Corporate Knights Drill-Down, we highlight a compelling financial case for divesting from fossil fuels. The findings are clearly shown in the chart above: the additional total returns from divestment were strongly correlated with the proportion of fossil fuel holdings in each funds portfolio. billion in assets.
The engagement programme thus far has been “constructive”, NBIM’s board claimed in December, adding that the companies have “expressed an ambition to divest the relevant assets in the Niger Delta”. This includes engaging with the local communities to address past and present oil spills before exiting the region.
In June, the Church of England Pensions Board (CoEPB) and Church Commissioners announced that they will divest from oil and gas firms for failing to align with climate goals. However, individual, specific, and isolated divestments do not make a significant difference due to the abundance of liquidity in the market. billion (US$13.2
As more and more institutions and people are divesting from fossil fuels globally, climate responsible finance is booming. Part of this revolution is the meteoritic growth of green bonds, which were started in 2007 by the World Bank and the European Investment Bank.
Since large-scale production of Tesla vehicles only started in 2013, most of these vehicles are still on the road. The University of Michigan Endowment Fund: Divesting from Fossil Fuels (Published 9.9.2020) In September 2019, there were climate change strikes at the University of Michigan. million tons of batteries will need disposal.
For sustainable tech to be possible, funders, including investors, philanthropists, and foundations, must develop a two-pronged approach of intentional investments in those leading justice-centered approaches to technological and economic transitions and informed divestments from extractive and fossil-fuel-dependent systems and enterprises.
The fossil fuels divestment movement continues to grow and as indicated in a recent report by DivestInvest, 1,500 investment institutions, responsible for $39.2 trillion in assets, have committed to divest. Student divestment movements have succeeded in removing fossil fuels from a number of universities in 2021.
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