500 institutions, 3400 trillion dollars: the exit from fossil fuels is accelerating...

5 of 5 (3 votes)

On the third day of COP21, 500 banks, companies, communities, foundations and associations claim their choice to disengage from fossil fuels. A pivotal step in the history of this movement led by the NGOs 350.org and Divest-Invest.

cop21_03_12_2015.png
Illustrative image (Credit: Divest Invest)

An impressive leap in the divestment effort" from companies. Thus the United Nations welcomes the announcement made, this Wednesday, December 2, in Paris, within the framework of the COP21 by 350.org et Divest-Invest.

A figure caught the attention of the UN: 500. This is the number of institutions (banks, companies, communities, universities, foundations, churches, associations) having today joined the campaign of 350.org and Divest -Invest for fossil fuel divestment. In concrete terms, the latter undertake to withdraw the money invested in fossil fuels and thus reduce their carbon footprint. A movement that the city of Seattle, in the United States, was the first to join in 2012. 

Total amount of funds controlled by these 500 institutions, 3400 billion dollars. A dizzying figure, of course, but it is necessary to temper: it does not correspond to the money disinvested from fossil fuels but to all the assets owned by the institutions involved. In the absence of joint communication from the players involved in the campaign, the total amount of divestments is difficult to quantify.

19 French cities involved

This announcement, which comes from the first days of negotiations at COP21, is nonetheless a new strong sign of the change in strategy of investors.

In addition to its global announcements, the NGO 350.org also announced that it had obtained the additional commitment of 19 French cities, including Lille, Bordeaux, Dijon, Saint-Denis and Rennes.

In order to amplify the movement in France, the National Assembly adopted on November 25 a 
resolution encouraging investors - including companies in which the State holds shares - and local authorities to no longer invest in fossil fuels. This resolution, which lays the groundwork for a possible future bill, is a first in France on the political level.
 
source: WeDemain.fr
 
Further information :

1000 Characters left


Do you like Crashdebug.fr?

Unlike the newspaper Le Monde, and to multiple news outlets and institutions, we do not receive any donations from the Bill & Melinda Gates Foundation, nor government press aid.

Also financial help is always appreciated. ; )

Make a one-time donation through paypal

Make a recurring monthly donation via Tipeee

All comments posted are the responsibility of their respective authors. Crashdebug.fr cannot be held responsible for their content or orientation.

To contact us write to Contact@lamourfou777.fr

We look forward to seeing you!

Subscribe to the Daily Crashletter

Subscribe to the Crashletter to receive all the new articles on the site at 17:00 p.m.

Archive / Research

Friend sites