Divestment

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Green lending: world’s biggest banks’ latest initiative at COP26 is a step backwards

Over 450 of the world’s banks have committed to a new initiative at the COP26 UN Climate Change Conference which is designed to decarbonise their investments. Overseen by former Bank of England supremo Mark Carney, the banks and other financial institutions signing up to Gfanz (the Glasgow Financial Alliance for Net Zero) are pledging to […]

November 9th

Harvard to divest from fossil fuels after a decade of pressure

Nearly a decade of tireless grassroots activism led by students, alumni, and faculty members culminated in Harvard University’s announcement Thursday that it is ending its investments in planet-warming fossil fuels, a decision campaigners celebrated as a major victory for the climate movement. By Jake Johnson Common Dreams In an open letter posted to the university’s website, Harvard President […]

September 11th

California kids to teachers’ pension fund: Divest from oil (because it’s a lousy investment)

The kids are mad as hell—and so are teachers who want their California teacher pension fund, CalSTRS, to join 1,000 other institutions collectively divesting $14.5 trillion from the fossil fuel industry that threatens climate catastrophe. Youth call on CalSTRS to divest from fossil fuels, 2021. (Photo: Brooke Anderson Photography) By Marcy Winograd Common Dreams The retirement […]

August 28th

Climate activists target banks’ greenwashing in nationwide #DefundLine3 protests

In the wake of publication of the Intergovernmental Panel on Climate Change report underscoring the imperative to quickly transition to a post-fossil fuel economy, activists in dozens of cities across the U.S. on Friday rallied outside the offices of major banks to denounce their funding of polluting projects including Enbridge’s Line 3 tar sands pipeline. By Brett […]

August 17th

Paris Climate Agreement: First round of 9.5 biennial communications offer essential — and imperfect — climate finance information

Developing countries rely on the availability of climate finance for their enhanced adaptation, as well as their mitigation actions and plans. As a result, finance communications based on forecasts — or ex-ante climate finance — should help developing countries understand what financial support to expect from developed countries. This information better enables countries to plan […]

July 14th

Can Climate Change the IMF?

The International Monetary Fund (IMF) annually assesses the economic health of its 190 member countries, making recommendations to address macroeconomic and financial challenges through surveillance processes referred to as Article IV surveillance. By Valerie Laxton and Lauren Sidner World Resources Institute On May 25, the IMF — charged with securing economic stability and effective operation of the international monetary system […]

June 25th

South Korea and Japan will end overseas coal financing. Will China catch up?

Since 2013, public finance from China, Japan and South Korea accounted for more than 95% of total foreign financing toward coal-fired power plants. This financing enabled the construction and operation of coal power plants in developing countries, where investment in power supply does not match demand. By Shuang Liu, Ye Wang and Yan Wang World Resources Institute These investments also […]

June 23rd

A court ruling against Shell and votes against Exxon and Chevron add pressure, but it’s the market that will drive oil giants to change

From news reports, it might sound like the fossil fuel industry is on the defensive after a landmark court ruling and two shareholder votes challenging the industry’s resistance to curbing its greenhouse gas emissions. But how much power do decisions like these really carry when it comes to pressuring the industry to change? As an […]

June 16th

Sign and send the petition to your local elected officials: Divest our pensions from fossil fuels

Nearly all public pension funds in the U.S. are invested in fossil fuel companies – and thus using our tax dollars to support the powerful polluters that are causing the climate crisis and violating Indigenous rights. By Stand.Earth, Campaign Action and DailyKos Climate change is the greatest threat to our planet and to humanity. Already, […]

June 12th

Maine lawmakers pass landmark bill to divest from fossil fuels

Climate action advocate Bill McKibben welcomed a development he called “a gift to the planet” after Maine state lawmakers on Tuesday passed a groundbreaking bill committing the state to divesting its assets from the fossil fuel industry. By Andrea Germanos Common Dreams LD 99—”An Act to Require the State to Divest Itself of Assets Invested in […]

June 11th

Green groups sue US development bank financing climate-damaging infrastructure projects overseas

In an effort to hold the United States’ development bank accountable for financing “climate-damaging” international projects, a trio of environmental organizations filed suit Wednesday over the Trump administration’s attempt to exempt it from a key federal government transparency law. By Jessica Corbett Common Dreams Congress passed the Better Utilization of Investments Leading to Development (BUILD) […]

June 3rd

Stop the Money Pipeline presents JPMorgan Chase branches with “2021 Greenwashing Award”

“We are awarding Chase with the 2021 Greenwashing Award as they have truly gone above and beyond this year, creating an innovative, never before seen form of greenwashing,” said Stop the Money Pipeline coalition coordinator, Alec Connon. Following the release of JPMorgan Chase’s 2030 climate targets, people around the country will be delivering the “2021 Greenwashing […]

‘A Seismic Shift’ for Big Oil: Activist investors score surprise win with ExxonMobil board seats

In a historic rebuke of fossil fuel giant ExxonMobil, shareholders on Wednesday voted to elect at least two people to the company’s board of directors who were backed by activist investors eager to accelerate the transition to clean energy. By Kenny Stancil Common Dreams During Exxon’s annual shareholder meeting, an activist hedge fund called Engine No. 1—which […]

May 27th

JP Morgan Chase is greenwashing on fossil fuel funding. It’s time to stop the money pipeline!

In October of last year, JPMorgan Chase, the world’s largest funder of fossil fuels, announced that it was going to align its business model with the Paris Agreement. The pledge came only after years of campaigning by activists and was widely welcomed. The most exciting part of the announcement was Chase’s promise to release 2030 climate targets. […]

Who Funds the Climate Crisis?

First the good news: The technology needed for a carbon-free economy in every country in the world already exists. It is affordable, most of it will make our lives better, and making that transition rapidly would cost less than cleaning up the disasters anticipated by inaction on climate. By Cynthia Kaufman Common Dreams Now the […]