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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.
For the leaders of the divestment movement, which encourages institutional investors to sell off their shares in fossil fuel companies, winning isn’t everything. But after a decade of determined lobbying, the divest side is suddenly doing a lot of winning. That tally, they noted, is bigger than the combined GDP of the U.S.
The post BP to abandon renewable targets, divest assets in shift back to fossil fuels appeared first on RenewEconomy. Sources say the oil and gas major is scrapping plans to ramp up renewable capacity 20-fold by 2030, returning instead to a focus on fossil fuels.
Pressure on creatives: PR, advertising firms targeted by fossil fuel divestment movement. As with the financial divestment movement, there is a valid debate about whether engagement with high-carbon firms that are working to reduce their emissions is more effective than simply severing ties. Michael Holder. Mon, 11/30/2020 - 01:00.
But 40% of the reductions came from divesting, or selling off, dirty assets, which from the atmosphere’s perspective is akin to rearranging deck chairs on the Titanic. Divestments (8%). 0.124 Retirements and divestments (100%). Divestments (25%). 4 BP PLC Oil & Gas 35,600,000 32,600,000 -0.48 -0.583 Divestments (87%).
Is it possible to fully divest from Wall Street and invest in community with hundreds of millions of dollars? The post How Kataly Foundation is divesting from Wall Street to reinvest in communities appeared first on ImpactAlpha. When I started my.
Vattenfall has signed an agreement with RWE to divest the Norfolk Offshore Wind Zone. The agreed purchase price corresponds to an enterprise value of £963 million. The deal ensures the continued.
Today (Dec 18), rsted announced it is divesting a 50 % equity stake in three US onshore projects to Energy Capital Partners (ECP), a leading energy transition-focused investor and the largest privat.
Graham’s speech also included dubious statements about divestment and the pace of transition away from fossil fuels, claiming that the “global investment community has also changed its tune when it comes to fossil fuel divestment.” This “consensus” is imaginary.
Ørsted has signed a transaction with Stonepeak, a leading alternative investment firm specialising in infrastructure and real assets, whereby Ørsted will divest to Stonepeak an equity ownership stak.
Scatec ASA, a renewable energy frontrunner in emerging markets, today (June 1) closed the previously announced transaction to divest the Upington solar plants in South Africa.The gross considera.
Further to the press release issued on 24 July 2023, Ørsted has completed the divestment of 25 % of the London Array Offshore Wind Farm to funds managed by Schroders Greencoat.For fur.
ClearSky Solar is a community initiative that helps businesses divest from fossil fuels by linking community investors to local solar projects that need financing. The post SwitchedOn podcast: How this community cut fossil fuels and slashed energy bills appeared first on RenewEconomy.
This helps explain why more than $11 trillion have been divested from fossil ownership, even before the University of California announced that it was divesting its $80 billion portfolio. Surely the world runs on oil. This will just be a blip to what is an essential industry for humankind, won’t it?
MAS Managing Director Ravi Menon said: “Indiscriminate divestment from carbon-intensive activities will not get us to a net-zero world. According to MAS, withdrawing financing, insurance or investment from higher climate risk-exposed companies with credible transition plans could deprive them of the financing needed to decarbonize.
Divestment from fossil fuels is accelerating around the world. Besides dozens of universities (including Harvard and the University of Toronto), the divestment list now includes France’s Banque Postale, the State of New York, and Europe’s largest pension, ABP.
EE: The debate about divestment versus engagement in fossil fuels is probably more heated now than ever. MH: Choosing among responsible investment tools – positive and negative screening, divestment and engagement – is complicated. The “clean hands” approach of divestment best expressed the moral outrage of activists over apartheid.
Aviva has divested almost all its £2.5 billion ($3 billion) exposure to fossil fuel companies on its "Stoplist" of firms with weak ambitions to reduce their climate impact.
We also began a fossil-fuel divestment initiative. In the mid-2010s, our Board and Investment Committee piloted multiple small-scale initiatives, including one Program Related Investment, several Mission-Related Investments, and a shareholder activism program.
In a blog post announcing the divestments, PFZW described the remaining companies as “fully committed to the transition from fossil energy to renewable energy or are currently already producing mainly energy with a low carbon footprint.”
The denomination’s General Assembly, meeting online, voted overwhelmingly this week for a resolution targeting Chevron, ExxonMobil, … Continue reading Largest Presbyterian church body divesting from fossil fuel companies, citing climate concerns.
It excludes carbon laggards in the cement industry, oil and gas companies and those found on the Global Oil & Gas Exit List, coal companies found on the Global Coal Exit List, all utilities that generate less than 50% of their power from green sources, the top 200 carbon reserve owners in the Carbon Underground 200 list, fossil-fuel financers found (..)
It excludes carbon laggards in the cement industry, oil and gas companies and those found on the Global Oil & Gas Exit List, coal companies found on the Global Coal Exit List, all utilities that generate less than 50% of their power from green sources, the top 200 carbon reserve owners in the Carbon Underground 200 list, fossil-fuel financers found (..)
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
Timing and influencing the market are vital considerations for asset owners when divesting ESG assets. Since the success of the South African apartheid divestment campaign in the 1980s, investors must contend with similar pressure on other ESG issues, such as the growth of campaigns encouraging them to exit fossil fuels or tobacco.
health insurers are all invested in the fossil fuel industry" and will call on insurers to divest from these companies, calling them "the greatest threat to human health.". A report coming out later this week from the Australia-based Sunrise Project "will reveal that the top 10 U.S.
More than half of divestments by Norges Bank Investment Management (NBIM) last year were the result of unacceptable social and governance-related risks. This can escalate action to voting, and, when necessary, resort to risk-based divestment. trillion in assets under management (AUM). trillion in assets under management (AUM).
To divest or not to divest? Another is establishing the liquidity levels of those investments which enable rapid divestment. Many began the divestment process because of evidence of systematic human rights abuses and corruption led from the very top. However, allocators’ work does not end there. billion (£2.3 billion (£2.3
The California State Teachers’ Retirement System (CalSTRS) and the California Public Employees’ Retirement System (CalPERS) have “wildly exaggerated” the costs of divesting fossil fuel holdings, according to climate activist group Fossil Free California (FFC). billion in fossil fuel investments that would need to be divested under SB 1173.
HESTA said divestment on climate grounds from four energy firms it has warned of intensified engagement is its option of last resort - but remains possible if their response to engagement is "insufficient".
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