Fossil Fuel Divestment – Could This Be Our Strongest Weapon In The War Of Climate Change?

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Go Fossil Free is an organisation devoted to raising the awareness of Fossil Fuels and the power that divestment may play in changing our future. You can read their biggest accomplishments in a report linked here. They inspired a Global Divestment Day last year which was supported by many cities throughout the world.

At over 450 events in 60 countries, people around the world declared that it’s wrong to wreck the climate — and it’s wrong to profit from wrecking it. From the Pacific Islands to South Africa, from the United States to Germany, we stood up to demand that our governments, universities and financial and religious institutions stop investing in the rogue industries that are destroying our planet. It was a massive turning point in the divestment movement with people across six continents fighting to de-legitimize the fossil fuel industry.

Divest for Our Future

The following quote is from an article written by Harvard Political Review undergraduate students, (not the staff of Harvard’s Institute of Politics).

A coalition known as Students for a Just and Stable Future (SJSF) has called for the Harvard Management Company to divest from fossil fuel companies. Citing concerns about the environment and the energy industry’s outsized lobbying influence, they’ve started a campaign known as “Divest for Our Future.” Their goal is to persuade university endowments to wind down positions in firms that have large reserves of oil, coal, and natural gas.

“Climate change is probably the defining social justice issue of our time,” said Alli J Welton, a board member of the Harvard chapter of SJSF. “We have very few years left to really change fossil fuel practices before we’re locked into irreversible warming. It might seem abstract, but this takes its toll on people’s lives and the economy.”

The students want Harvard to invest in companies that support a brighter future, divesting from those that are actively extracting fossil fuels. The companies that they targeted can be found here. The University already supports sustainable initiatives, and these can be seen here.

Norway

This movement toward Fossil Fuel Divestment is becoming a trend with many Universities and colleges beginning to follow suit. Over 40 cities across the world, religious institutions and individuals are also starting to remove their money. Most notably Oslo announced recently that it would divest $7 million worth of coal investments from its pension fund.

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