Divestment

string(10) "divestment" Loading...

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

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 […]

5 Ways the World Bank’s Climate Action Plan Could Go Further

The recent 2021 World Bank Group/International Monetary Fund spring meetings took place during challenging times. The COVID-19 pandemic has caused loss of life and exacerbated global poverty and inequality, while draining governments resources. Meanwhile, the impacts of climate change are starting to be felt on a broad scale, resulting in the loss of homes, crops […]

Why is the Federal Reserve funding climate destruction? And can the next Fed Chair stop it?

A coalition of progressive groups on Thursday urged President Joe Biden to appoint “a real climate leader” to head the Federal Reserve. “You can’t consider Fed leadership without asking how it’s doing on the biggest risk to the financial system—the climate crisis,” David Arkush, Climate Program director at Public Citizen, said in a statement. By Andrea Germanos Common […]

May 15th

Majority of Americans want government to rein in Wall Street’s climate destruction through fossil fuel funding

A new poll released Monday shows that large majorities of voters in the United States want the federal government to bolster its regulation of big banks, insurers, and other financial institutions to prevent climate-driven economic crises. By Kenny Stancil Common Dreams As Common Dreams has reported in the past month, recent studies have shown that Wall Street is a […]

April 13th

The role of the banking industry in financing fossil fuel projects is under increasing scrutiny and opposition

Last week we observed a tweet from Konstantin Kisin getting shared around by a bunch of the usual suspects in denier Twitter. Kisin disapprovingly quote-tweeted a video of a climate protest showing seven women (in suffrage movement colors) protesting Barclay’s position as the biggest financier of fossil fuels in Europe, and seventh biggest in the world, early Wednesday […]

You think clean energy is expensive? Banks have poured $3.8 TRILLION into fossil fuels in past 5 years

A detailed new report released Wednesday morning by a coalition of environmental groups shows that the 60 largest banks in the world have poured more than $3.8 trillion into the fossil fuel industry since the Paris climate accord was adopted in 2015, providing key financing for destructive projects ranging from coal-fueled power plants in Indonesia to Enbridge’s Line 3 tar […]

March 25th

Corporate climate Pledges are failing the planet – AND investors

Underscoring expert warnings about the inadequacy of current global pledges to cut planet-heating emissions, the world’s largest climate-focused investor initiative released an analysis Monday detailing how the biggest corporate polluters are falling short in terms transitioning to net-zero businesses by 2050 or sooner. By Jessica Corbett Common Dreams After sending letters last September to companies responsible for the most greenhouse […]

March 23rd

NYC Pension Funds beings historic divestment, pulls $4 billion from fossil fuels

Today, New York City’s largest pension funds voted to initiate full fossil fuel divestment, selling off an estimated $4 billion of holdings in fossil fuel corporations, such as ExxonMobil. New York City’s announcement fulfills its commitment to divest from fossil fuels. The city’s pension funds, valued at $239 billion are the largest municipal pension funds to divest globally. By […]

January 25th