divestment

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Storebrand dumps oil and mining stocks on climate change lobbying

by Chris Flood and Attracta Mooney, Financial Times Highlights Multibillion-dollar Nordic asset manager, Storebrand, has dropped ExxonMobile, Chevron, Southern Company, BASF, and Rio Tinto from its portfolio after these companies lobbyed against stricter environmental standards Investors of oil companies and other industries that deal with fossil fuels are pushing these companies to lobby against climate-related standards Jan … Read more

Categories Divestment Fossil Fuels
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How the fossil fuel industry drives climate change and police brutality

Seattle Black Lives Matter protest by Kelly Kline

by Alexandria Herr, Grist Highlights Public Accountability Initiative and LittleSis released a new report detailing how oil companies fund police foundations across the country These foundations are non-profits that raise money to buy weapons, equipment, and surveillance technology for police departments Some fossil fuel companies have also supported legislation that would criminalize protesting pipelines Big … Read more

Categories Climate Justice Fossil Fuels Public Health
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Vatican calls on Catholics to divest from fossil fuels

by Rebecca Beitsch, The Hill Highlights The Vatican has released “Journeying Towards Care For Our Common Home,” a  225-page encyclical calling on all church bishops to divest from fossil fuels in efforts to slow the climate crisis The document also calls on Catholics to drop support for companies that support abortion and armaments Pope Francis … Read more

Categories Divestment Fossil Fuels
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How should California wind down its fossil fuel industry?

by Justin Gerdes, Greentech Media Highlights Though California is a leader in clean energy within the US, it remains the seventh-largest oil-producing state and needs to take action to eliminate the fossil fuel industry. California leads the nation in solar rooftops and electric vehicles and also ranks fifth in installed wind capacity For full fossil … Read more

Categories Divestment
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IMF warns investors: You’re not ready for climate change

by Laura Millan Lombrana and Eric Martin, Bloomberg Green Highlights A new report from the International Monetary Fund (IMF) says investors worldwide are underestimating the financial risks from climate change, and companies need to start disclosing their exposure Asset prices currently fail to reflect the risk of extreme weather events that may cost $1 trillion annually starting … Read more

Categories Divestment
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Wall street is bending to pressure to halt Arctic-oil loans

Arctic Drilling

By Jennifer A. Dlouhy, Bloomberg Green Highlights Environmental activists are fighting oil companies to keep drilling out of the Arctic National Wildlife Refuge by putting divestment pressure on banks. Tribal representatives and other environmental activists pressed banking executives about their policies during shareholder meetings and in conversations with sustainability directors Morgan Stanley has announced that … Read more

Categories Divestment Fossil Fuels
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U.S. fracking giants prepare for repeat of 2016 collapse, expect little help from Wall Street

by David Wethe, Bloomberg Highlights: Major fracking companies are expecting to crash and don’t anticipate receiving financial help from Wall Street, potentially paving the way for more renewable energy projects. Though drilling rig numbers have dropped in the past, the current decline could come much faster this time according to fracking giant Schlumberger Ltd. Halliburton, … Read more

Categories Clean Energy Divestment Fossil Fuels
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UBS exits arctic oil, coal mines and tar sands projects

By Dieter Holger, The Wall Street Journal Highlights UBS Group, one of the world’s largest banks and previously Europe’s fourth-biggest coal-mining financier, announced it will no longer finance new offshore oil projects in the Arctic, thermal coal mines or oil sands on undeveloped land after pressure from investors and environmentalists. Outside of investor pressures, UBS says its … Read more

Categories Business Network Divestment