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About two-thirds of the GHG reductions achieved by these companies were genuine from the planet’s perspective; much of it came courtesy of efficiency measures or retiring polluting assets. Divestments (8%). 0.124 Retirements and divestments (100%). Divestments (25%). Divestments (3%). Divestments (94%).
Reasons are manifold but include better risk management, earlier identification of strandedassets, and the realisation that Paris Agreement goals are in jeopardy. It now aims to further halve its emissions by 2030 compared to 2020 levels – with the long-term goal of achieving net zero by 2040. “We
of global GDP, in 2020, and are expected to increase to 7.4% 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. trillion, or 6.8% The Church Commissioners, which manages the CoE’s £10.3 billion (US$13.2
Additionally, divestment campaigns and the fear of strandedassets have become each new year more pressing. Brent crude prices dropped 70 percent since the beginning of 2020. WTI prices went negative last week, a first in the history of oil and of commodities. In Europe, countries are going beyond coal faster and faster.
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