People USED TO THINK that investing in coal and oil companies would be safe investments. Now THE OPPOSITE is true! The climate crisis and the rapid transition from fossil fuels to green energy has changed everything — except some people’s thinking.
The climate advocacy group 350 Seattle (www.350seattle.org) has begun organizing vigorously for divestment from fossil fuels. Recently they wrote this:
Over 1100 institutions. More than $14 trillion. Fossil fuel divestment is, by far, the largest divestment movement in history — and yet Washington State remains deeply invested in the Exxons, Chevrons, and BPs of the world.
Can you join over 75,000 others in calling for the Washington State pension fund to divest from fossil fuels? https://actionnetwork.org/letters/sign-and-send-the-petition-urge-your-governor-and-state-legislators-to-urge-state-pension-fund-divestment-from-fossil-fuels-we-cannot-continue-to-fund-climate-change?source=2020StatesDivest_SE&referrer=group-350-seattle&emci=bf266cee-6b4f-ea11-a94c-00155d039e74&emdi=fb13feb2-6d4f-ea11-a94c-00155d039e74&ceid=3099374
Over the last few weeks, more than 75,000 people have sent letters to their state governments demanding that all public pension funds be divested from fossil fuels. There are already signs the pressure is working. Just weeks ago, New York State Comptroller Tom DiNapoli, who controls the nation’s third largest pension fund, announced he would begin divesting from a limited amount of coal companies after more than a decade of stonewalling divestment demands.
Together, we can make sure that Washington State understands the urgency of the moment, and divests from fossil fuels.
Seeding Sovereignty (www.seedingsovereignty.org) sent this e-mail and link urging people to sign a petition that demands divestment of the state pension funds from fossil fuels. SEVERAL OTHER non-profit orgs (including www.climatehawksvote.com and the Endangered Species Coalition www.endangered.org) have sent the same petition with their own e-mail wordings to their own lists. I have signed it several times. SEE THIS from Seeding Sovereignty:
Nearly all public pension funds in the so-called 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. These public pension funds include funds for teachers and retirees that are invested in fossil fuel companies from Halliburton and Exxon Mobil to Amazon and Apple, according to a study from California and Colorado. It is time to demand that our elected officials act to freeze all investments in fossil fuel companies and divest public funds from all direct and indirect investments in coal, oil and gas producers. Sign this petition, which seems to be the same — or very similar — like the one I linked above: https://actionnetwork.org/letters/sign-and-send-the-petition-urge-your-governor-and-state-legislators-to-urge-state-pension-fund-divestment-from-fossil-fuels-we-cannot-continue-to-fund-climate-change?source=direct_link&referrer=group-seeding-sovereignty&link_id=2&can_id=1d662460c0abb8939c5044c82927552b&email_referrer=email_712507&email_subject=sign-the-petition-demand-divestment-of-the-state-pension-funds-from-fossil-fuels
A famous TV financial analyst (Jim Cramer) declares fossil fuels “dead” as investments! He says oil companies are in the “death knell phase.” This adds more weight to our efforts to make pension funds and other institutions DIVEST. See this: https://grist.org/energy/jim-cramer-mad-money-host-declares-fossil-fuels-dead/?utm_medium=email&utm_source=newsletter&utm_campaign=daily
This January 2020 article raises the issue effectively: https://www.nytimes.com/2020/01/14/business/dealbook/larry-fink-blackrock-climate-change.html It says that even BlackRock is considering sustainability in their future investment portfolios. It’s interesting to see all the sides being targeted, including banks, insurance companies, investment firms, and state and municipal pension plans.
The non-profit org Amazon Watch has reported this victory: Pressure from Climate Campaigners Forces BlackRock to Prioritize Sustainability in Its Investments: https://amazonwatch.org/news/2020/0131-pressure-from-climate-campaigners-forces-blackrock-to-prioritize-sustainability?utm_source=Amazon+Watch+Newsletter+and+Updates&utm_campaign=9e52de945f-2019-07-29-bolsonaros_deadly_brazil_COPY_01&utm_medium=email&utm_term=0_e6f929728b-9e52de945f-341595181&mc_cid=9e52de945f&mc_eid=2598de8dc2
Also there is a new national campaign to “Stop the Money Pipeline”: https://www.stopthemoneypipeline.com/
PLEASE JOIN OUR MOVEMENT TO DIVEST! Don’t make us send a 16-year-old Swedish girl to lecture you!