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Divesting from fossil fuels isn’t just good for the planet. billion in returns over the last 10 years by not divesting from fossil fuels. And in 2018, Ireland became the first country to divest its national investment fund completely from fossil fuel companies. It can be good for financial returns, too.
Church investors dared to come to annual meetings to ask questions, or even worse, church investors filed shareholder proposals,” she wrote in a 2018 blog about her early work. EE: The debate about divestment versus engagement in fossil fuels is probably more heated now than ever. Both divestment and shareholder action have a role.
Voice Through Divestment The other Honorable Mention paper examines how divestment of stock holdings and pledges to disinvest affect target companies and industries, given past skepticism about this link. The research underscores the significant financial impact of environmental advocacy and public sentiment,” says judge Lilian Ng. “It
Particularly noteworthy was a 2018 study of energy giant Enbridge’s influence on the University of Calgary. RELATED: How student campaigners finally convinced NYU to divest from fossil fuels How Big Oil's spin doctors are influencing influencers Are green conservatives the key to solving the climate crisis?
The proposal follows decisions by the pension funds to divest from fossil fuel reserve owners in their public equities portfolio in 2018, and to exclude upstream fossil fuel investments, including exploration and extraction, in their private markets investments in 2023.
Since acquiring the business in 2018, Brookfield has worked closely with Saeta’s management team to successfully execute a plan focused on divesting non-core assets, optimizing its capital structure, and positioning the business for growth through hybridization, repowering, and developing unused land.
Regulatory action has also fuelled the surge in ESG rebranding, starting with the introduction of the EU Action Plan on Sustainable Finance in 2018 and accelerating in 2021, due to the implementation of the EU Sustainable Finance Disclosure Regulation (SFDR). This can lead to investors divesting their money from the fund.”
Since early 2018, the West’s six biggest oil majors have disposed of US$44 billion in predominantly fossil fuel assets. Pressure to divest is commonly applied by ESG-conscious investors who no longer want to be associated with these companies or fund them.
Divest or wind down? Rio Tinto , meanwhile, sold its last coal mines – both thermal and metallurgical – in 2018, and now produces no fossil fuels. The company said it would continue the “responsible decline of its thermal coal operations over time”. BHP sold its oil and gas business to Woodside in 2022 in an all-share deal.
Building youth power and the infrastructure that supports it is an investment in a more equitable and just future. Drawing from both research and lived experience, we discuss what makes youth organizing groups successful in building the power to influence policy making and brighten the futures of young people of color.
This follows actions against Southern Water and Thames Water in 2018-19, which resulted in £257 million (US$339 million) in penalties and rebates. Thames Water, the country’s largest water and wastewater services company has made the headlines this year – not just for leaks and sewage spills, but also for its financial problems.
Australia introduced a Modern Slavery Act in 2018 that requires entities with an annual consolidated revenue of more than A$100 million to report annually on the risks of modern slavery in their operations and supply chains, and actions to address those risks.
It confirms the material importance of divesting from fossil fuels and decarbonising real estate.” . Under the 2018 revision to the EED, the EU set a target for reducing energy consumption by at least 32.5% compared to 2007 levels by 2030.
Rasmussen expects the scheme to meet its target – self-imposed, but in line with the protocol set by the Net Zero Asset Owner Alliance (NZAOA) – to reduce greenhouse gas (GHG) emissions from its listed equities and corporate bonds by 45% by the end of 2024, from a 2018 base.
Exxon’s 2018 revenues were half of what it made a decade earlier; in 2019, it was only $14.3 In 2018, Transocean (yes, the folks who brought you the BP oil spill) charged Chevron $830 million ($445,000 a day) for one rig for five years. Last year, no fossil company made the top 10 list. Renting one isn’t cheap, either.
While at Tufts University, from which he received a bachelor’s in international relations and economics, Dowd was involved with the school’s fossil fuels divestment campaign and interned in the Obama White House. Finding herself the only Black person in the student divestment group, everything clicked. "I
But coal is already in terminal decline in both the US and the EU, all that is needed is a little push: Bloomberg New Energy Finance has confirmed this month that US coal plant retirements are nearing an all-time high, with at least 16 gigawatts (GW) worth of coal-fired plants already retired in 2018. A moral imperative.
Photo of Mark Jacobson and Stacy Clark, August 1, 2018. The fossil fuel divestment movement led by Bill McKibben’s 350.org My most memorable visit was a 2018 tour of Jacobson’s fully renewable, emissions free home, where his electric cars are also powered by the sun. Momentum for a clean energy transition is growing.
In March 2020, a coalition of 32 organisations spanning 17 countries wrote to the world’s biggest asset manager BlackRock, calling for the firm to divest its 5% stake in Drax, citing carbon intensity of woody biomass. . Drax first launched a BECCS pilot project in 2018 and aims to have the technology fully operational by 2027. .
According to the US SIF Foundation , $12 trillion in assets under management using ESG strategies at the beginning of 2018 grew to $17.1 trillion in 2018 and $22.8 ESHG-minded Investors can leverage their financial power by divesting from companies that aren’t doing healthy business.
University activists are increasingly citing the oil and gas industry’s targeting of kids in the classroom as another reason to divest from fossil fuels. The divestment solution. Divestment is an increasingly popular approach to combating the fossil fuel industry’s influence. The case for divestment is persuasive.
Since 2018, 19 states have increased the ambition of their renewable or clean energy targets. Public criticism of new exploration projects and oil and gas operations generally are growing more common – divestment campaigns being one example. An executive order for the U.S. 100% zero-emission vehicle acquisitions by 2035.
Why Did Companies Take So Long to Divest from White Supremacy? —?—?—?—?— The only meaningful policy enacted by the Trump administration and Republican Congress in 2017–2018 was the giant corporate tax cut, bought and paid for by corporate donors.
Last February, four student activists at Manhattan’s New York University got the meeting they’d been waiting for: a chance to tell the school’s board of trustees why the university should divest the fossil fuel stocks in its US$5-billion endowment. It was a big win. Focused, imaginative and relentless action can achieve unexpected victories.
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.
This report was provided to Congress by the Department of the Treasury in 2018 pursuant to the Countering America’s Adversaries Through Sanctions Act of 2017 (“CAATSA”). While the U.S. If added to the SDN List, all U.S. assets held by such individuals would be frozen, and U.S. Gazprom is currently subject to limited U.S.
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