July 29, 2016
When the fossil fuel divestment movement launched as a campaign on a scattering of college campuses, few would have predicted it would quickly grow to an international movement representing over $3.4 trillion in assets.
Certainly not the fossil fuel industry, which by and large dismissed the campaign entirely.
Today, the movement represents over 500 institutions (now including both Washington, D.C., and Berlin’s pension funds), more than 13,000 people, and over $3.4 trillion in assets.
This growth and momentum is leading to increased pressure on the fossil fuel industry. Banks are pulling back support for projects to explore for and process new reserves. Coal, in particular, is feeling the heat, with at least ten banks shutting off loans to the coal industry.
The fossil fuel industry is now ramping up efforts to fight back. Since 2015, fossil fuel industry groups have produced multiple reports and surveys attempting to undermine the growing fossil fuel free investing movement.
The industry’s scramble to delegitimize the movement is perhaps one of the greatest indicators of its success. To paraphrase Gandhi: after they start fighting you, that’s when you win.
If you are already investing fossil fuel free, thank you for helping grow this movement. If you have yet to divest, download our guide to learn how you can get started today.
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