Divestment

The Struggle To Protect The Sacred Place Where Life Begins

June 28, 2020 Nick Engelfried, Waging Nonviolence. Resist! Arctic, Divestment, Indigenous People, Oil and Gas

As the Trump administration neared the end of its first year in office in 2017, it seemed environmental activists had lost one of the most hard-fought battles in the movement’s history. Thanks to a last-minute maneuver by Alaska Sen. Lisa Murkowski, Congressional Republicans succeeded in passing legislation allowing oil drilling in the Arctic National Wildlife Refuge, or ANWR. Some of the worst fears of environmental and Indigenous rights groups for what might happen under the administration appeared to be coming true. However, two and a half years later, no drilling or seismic testing has taken place in the refuge — and there is a very real chance it might never happen. A nationwide grassroots movement led by the Indigenous Gwich’in people has repeatedly delayed the oil leasing process and made the prospect of drilling less attractive to major companies.

On Contact: Planet Of The Humans

June 21, 2020 Chris Hedges, RT. Resistance Report climate crisis, Divestment, Environmental Movement, Renewable Energy

In this week’s episode of On Contact, Chris Hedges discusses the criticism and censorship of Michael Moore's film Planet of the Humans with the director, Jeff Gibbs. "Perhaps it's a form of denial to actually instead of understanding the - this civilization, the industrial civilization, the human species - we're hitting limits and we're gonna crash. We're instead hoping that this fantasy will save us. And as I discovered, and I'm not saying that all environmental leaders are on the take, but one of the things our critics ignore is that the shocking list of things that you when you divest from fossil fuels and you invest in supposedly sustainable, you wind up investing in Big Ag, you wind up investing in mining and banks and all this - that part of the film was hardly talked about.

Faith Groups In 14 Countries Divest From Fossil Fuels

May 20, 2020 Brian Roewe, Earthbeat. Resist! churches, climate crisis, Divestment, Fossil Fuels

More than 40 faith institutions committed to divest their finances from fossil fuels while at the same time calling for the post-pandemic economic recovery to shift the world toward a low-carbon future. The announcement was made from Rome on May 18, at the beginning of Laudato Si' Week, the Vatican-sponsored celebration of the fifth anniversary of Pope Francis' encyclical on ecology, "Laudato Si', on Care for Our Common Home." A total of 42 faith organizations from 14 countries pledged to divest from fossil fuel companies or avoid such investments in the future. Organizers said it represents the largest joint divestment announcement by faith communities to date. The institutions are a mix of Methodist, Anglican, Quaker, Buddhist and Catholic, the latter accounting for 24 of the divesting groups.

Under Pressure, JP Morgan Chase Demotes Former Exxon CEO

May 2, 2020 Jamie Henn, Stop the Money Pipeline. Resist! Divestment, Fossil Fuels, JP Morgan Chase, Oil and Gas

New York, NY — Bowing to pressure from climate and shareholder activists, JP Morgan Chase will be demoting former Exxon CEO Lee Raymond from his Lead Independent Director position on the bank’s board. The news was buried in a filing with the SEC released on Friday. Stop the Money Pipeline, a coalition of over 100 groups working to pressure Wall Street institutions to stop financing fossil fuels, have been pressuring JP Morgan Chase for months to kick Raymond off the board entirely. Tens of thousands of activists with organizations such as the Sierra Club, Friends of the Earth and others have sent messages in recent months calling on Chase to remove Lee Raymond from the board.

Wells Fargo Announces Ban On Financing Arctic Oil And Gas Drilling

March 8, 2020 Ashley Curtin, Nation of Change. Create! Arctic drilling, Divestment, Oil and Gas, Wells Fargo

The world’s top bank to finance fracked oil and gas will no longer fund for oil and gas projects in the Arctic. Wells Fargo recently updated its environment policy to prohibit Arctic drilling and now joins Goldman Sachs and JPMorgan Chase along with several other global banks. The bank supports the “principles of the Paris Agreement” and believes that “policy action is essential to make meaningful progress against the Agreement’s goal,” therefore will “forego participation in any project-specific transaction in the region,” including the Arctic National Wildlife Refuge, the policy stated. “Wells Fargo’s decision to rule out funding for Arctic drilling is clear evidence that investing in the destruction of the Arctic Refuge would be toxic to any company involved,” Ben Cushing, Sierra Club campaign representative, said.

A New Generation Of Climate Activists Is Reviving Fossil Fuel Divestment

March 4, 2020 Nick Engelfried, Waging Nonviolence. Organize! climate crisis, Divestment, Fossil Fuels, Student Activism

A wave of student-led actions swept across the campuses of around 60 U.S. and Canadian schools last month, as students turned to sit-ins, walkouts and banner drops to pressure universities into divesting their endowments from fossil fuel companies. Called “Divestment Day” by activists, the Feb. 13 series of actions was just the latest escalation for a movement that’s been undergoing a serious revival. In fact, even just one year ago, something like the events of Divestment Day would have been unimaginable, as the movement was just coming out of a protracted lull. Since then, however, existing and newly formed divestment-focused groups have begun working together, old campaigns have adopted new tactics and the next generation of youth climate organizers has risen to the forefront.

Exxon Market Value Drops $184 Billion Since 2014 Peak

February 11, 2020 Peter Castagno, Citizentruth.org Educate! Divestment, ExxonMobil, Fossil Fuels

ExxonMobil’s stock plunged to a nine-year low on Tuesday after posting poor fourth quarter results, leading the fossil fuel giant to plunge $184 billion since its’ market valuation since its 2014 peak, as per CNN business. Some analysts argue that Exxon’s bad quarter is emblematic of a broader decline in the fossil fuel industry.

Student Victory: Georgetown University Divests From Fossil Fuels

February 10, 2020 Staff, Georgetownfossilfree.wordpress.com Resist! Divestment, Fossil Fuels, Higher Education

On the evening of February 6, 2020, Georgetown University announced its decision to divest its endowment from all fossil fuel companies. This decision comes after eight years of dedicated campaigning from GU Fossil Free; our members, past and present, could not be more proud. We are thrilled that our university has taken this important step in supporting climate justice, student voices, and financial accountability.

Divestment Fever Spreads As ‘Eco Radicals At Goldman Sachs’ Downgrade Exxon Stock To ‘Sell’ Status

February 7, 2020 By Julia Conley, Commondreams.org Educate! Divestment, ExxonMobil, Fossil Fuels, Goldman Sachs

"The best reason to divest fossil fuel stock is that you'd like to help preserve a livable planet. Another reason is so that you won't lose your money." Three days after CNBC host Jim Cramer pronounced fossil fuel investments as being "in the death knell phase," Goldman Sachs on Monday downgraded its stock assessment for ExxonMobil, advising investors to sell their shares of the oil and gas giant.

Count The Money! Divest!

January 30, 2020 Alyn Ware, Peacemagazine.org Strategize! Divestment, Nuclear Weapons

The nuclear weapons industry has incredible political power and uses it to stimulate the nuclear arms race and expand the already colossal nuclear weapons budgets. To reverse this, the global Move the Nuclear Weapons Money campaign is promoting nuclear weapons divestment. The anti-nuclear weapons campaign has been boosted by the UN Global Compact adding nuclear weapons to its list of excluded investments...

Reclaim The Block Urges Invest In Community, Not In Police

January 20, 2020 Isabella Garcia, Riseuptimes.org Create! Community, Divestment, Minneapolis, Police

In dramatic effect, a Minneapolis resident dumps a bag of money onto a podium during public comments at the final City Council meeting on the 2020 budget last month. The person with them, who identified himself as David, is addressing the council members. “This is $193.40,” David says, then begins to explain that the money represents the $193 million budget Mayor Jacob Frey proposed to give the Minneapolis Police Department in 2020, more than one-third of the city’s general fund.

Historic Protest At Harvard-Yale Football Game Was Years In The Making

November 28, 2019 Emily Pontecorvo, Grist. Resist! climate crisis, Divestment, Fossil Fuels, Youth

Saturday marked the 136th annual Harvard-Yale football game, a tradition known simply as “The Game” by students and alumni of the rival Ivy League schools. Tens of thousands of people flocked to the Yale Bowl in New Haven to watch. Many more tuned in on ESPNU. But what viewers likely didn’t expect to witness was a historic show of unity between the two schools in the name of fighting climate change. Just before 2 p.m., as the halftime show was ending and the Yale marching band exited the field, about 150 people ran down the steps of the stadium and onto the turf, staging a sit-in near the 50-yard line. They unfurled banners that read “Nobody Wins: Yale and Harvard are complicit in climate injustice,” “Presidents Bacow and Salovey: Our future demands action now,” and “This is an emergency.”

We Must Dismantle The War Machine To Avoid The Climate Catastrophe

November 10, 2019 Jodie Evans, The Independent Media Institute Resist! Climate Change, Climate Justice, Divestment, Wars and Militarism

There is a clear thread running from the Pentagon budget to weapons corporations to our impoverished communities to migrants fleeing wars and drought to greenhouse gas emissions driving the climate crisis. Imagine a snake consuming its own body: that is the war machine’s connection to climate breakdown. We must begin rapidly removing our public dollars from the war machine if we are to save humanity and the planet—which, like the climate crisis and the war machine, cannot be separated.

Can We Divest From Weapons Dealers?

March 13, 2019 Kathy Kelly, Vcnv.org Resist! Divestment, weapons

Impoverished people living in numerous countries today would stand a far better chance of survival, and risk far less trauma, if weapon manufacturers such as Lockheed Martin, Boeing, General Dynamics, and Raytheon stopped manufacturing and selling death-dealing products. About three decades ago, I taught writing at one of Chicago’s alternative high schools. It’s easy to recall some of their stories—fast-paced, dramatic, sometimes tender. I would beg my students to three-hole-punch each essay or poem and leave it in a binder on our classroom shelf, anxious not to lose the documentation of their talents and ideas.

At Last, Divestment Is Hitting The Fossil Fuel Industry Where It Hurts

December 25, 2018 By Bill McKibben, The Guardian Resist! Climate Change, Divestment

The list of institutions that have cut their ties with this most destructive of industries encompasses religious institutions large and small (the World Council of Churches, the Unitarians, the Lutherans, the Islamic Society of North America, Japanese Buddhist temples, the diocese of Assisi); philanthropic foundations (even the Rockefeller family, heir to the first great oil fortune, divested its family charities); and colleges and universities from Edinburgh to Sydney to Honolulu are on board, with more joining each week. Forty big Catholic institutions have already divested; now a campaign is urging the Vatican bank itself to follow suit. Ditto with the Nobel Foundation, the world’s great art museums, and every other iconic institution that works for a better world.

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