Fossil Free: Divest from Fossil Fuels

Fossil Free: Divest from Fossil Fuels

Discussion

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What is Fossil Free

Fossil Free: Divest from Fossil Fuels

description

An approach to break the hold of the fossil fuel industry on our economy and government, while highlighting the moral dimension of climate change

The Problem

If it is wrong to harm the planet then it also wrong to profit from it. Many organizations that serve the public good (e.g., universities and religious institutions) are invested in the fossil fuel industry through stocks, bonds, and other investment funds. Among the worst investments are the coal, oil, and gas companies in the Carbon Underground 200 list, ranked by potential carbon emissions from their reported reserves. In addition, some fossil fuel companies donate to or sponsor universities and other organizations to maintain their legitimacy.

The Solution

Campaigns can pressure institutions to divest from fossil fuels by avoiding new investment in fossil fuel companies, shifting out of commingled funds that include fossil fuel holdings over the next five years, and not accepting sponsorship from fossil fuel organizations (just as they avoid it from tobacco companies now). Divestment efforts have worked, including those targeting violence in Darfur, tobacco advertising, and most famously the South African divestment campaign, which helped bring about the end of the Apartheid government.

Stage of Development

scaling

Organization to Receive Funds

Fossil Free

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