Monday 26 October 2015

$2.6 Trillion in fossil fuel divestment - report

Of course the elephant in the room is Adani in Australia. The latest on that is that Turnbull wants to use taxpayer's money to prop it up.

However this latest report out of the US shows a massive $2.6 Trillion of fossil fuel assets have been committed to be dumped by divestment. 
To date, 436 institutions and 2,040 individuals across 43 countries and representing $2.6 trillion in assets have committed to divest from fossil fuel companies. The divestment movement has grown exponentially since Climate Week in September 2014, when Arabella Advisors last reported that 181 institutions and 656 individuals representing over $50 billion in assets had committed to divest. At that time, divestment advocates pledged to triple these numbers by the December 2015 Paris UN climate negotiations. Three months before the negotiations, we have already witnessed a fifty-fold increase in the total combined assets of those committed to divest from fossil fuels.Measuring the Growth of the Global Fossil Fuel Divestment and Clean Energy Investment Movement  

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