Coal power becoming ‘uninsurable’ as firms refuse cover

by Julia Kollewe, The Guardian The number of insurers withdrawing cover for coal projects more than doubled this year and for the first time US companies have taken action, leaving Lloyd’s of London and Asian insurers as the “last resort” for fossil fuels, according to a new report. The report, which rates the world’s 35 […]

European Investment Bank

European Investment Bank drops fossil fuel funding

The European Union is to stop funding oil, gas and coal projects at the end of 2021, cutting €2bn (£1.7bn) of yearly investments. by BBC, November 14, 2019 The European Investment Bank (EIB), the EU’s financing department, will bar funding for most fossil fuel projects. The ban will come into effect a year later than […]

Natural gas is not a good deal for investors or the climate

by Bruce Nilles and Mark Dyson, Greentech Media Cities and utilities across the United States are starting to reject natural gas — and not just for environmental reasons. Increasingly, the compelling economics of clean energy alternatives play a major role in these decisions. San Jose, the tenth largest city in the country, recently joined a […]

University of California system to divest from fossil fuels

by Andy Kroll, Rolling Stone The nearly decade-old campaign to force major universities, investment firms, and insurance companies to divest from fossil fuels just notched one of its biggest victories yet. In a new op-ed for the Los Angeles Times, the chief investment officer for the University of California system and the chairman of the […]

City of Denver divests from oil and gas companies

by 350 Colorado Denver Mayor Michael Hancock announced that the City of Denver has begun divesting its $6bn General Funds’ portfolio from fossil fuel investments. The city said it was able to move quickly through the process as fossil fuels were already a small percentage of the overall portfolio – totaling approximately $179M. The announcement […]

Ireland moves to divest from fossil fuels

by Somini Sengupta, NY Times Ireland on Thursday moved to pull its public funds out of fossil fuels, a development that marks the most significant advance to date for a divestment campaign pushed by environmentalists worldwide. The lower house of Parliament passed a bill that requires the country’s sovereign fund, valued at 8.9 billion euros, […]

New York city sues oil companies over climate change, says it plans to divest

by Nicholas Kusnetz, InsideClimate News New York City is suing five of the largest oil companies over the billions of dollars it spends protecting the city from the effects of climate change, and it plans to divest its pension funds’ $5 billion in assets involving fossil fuel producers, Mayor Bill de Blasio announced Wednesday. As […]

Port_of_Cape_Town

Cape Town commits to divestment

by City of Cape Town, Media Office Statement by the City’s Executive Mayor, Patricia de Lille This is an exciting time for the City of Cape Town as we issue on inaugural green bond of R1 billion. The City has over the past five years become the trademark for good governance through our track record of […]

Davis, CA

City of Davis votes to divest from Wells Fargo Bank

by Felicia Alvarez, The Davis Enterprise Davis took the first step Tuesday night toward divesting from Wells Fargo Bank, after the Davis City Council voted unanimously to seek out a new banking service in light of the bank’s ties to the Dakota Access oil pipeline and other recent controversies. The decision will see some $124 […]

Scientific American endorses Cap & Dividend

“Opponents of proposals to cap carbon emissions argue that such measures would be a drag on the economy. But action on climate change is simple prudence. Doing nothing carries risks that outweigh the cost of phasing out emissions. Politicians should accept that calculation because the science that supports it is strong. They should also consider […]