As climate strikes roar around the globe, the fossil fuel industry’s social license to pollute our planet is looking increasingly likely to expire. This industry’s continued growth is only possible if someone pays for it, after all.
Today, investors around the world are saying “our money won’t fund climate change.”
Financial flows from banks and insurers to oil and gas companies are an important lever. If we can stop the funding, pipelines and drilling sites cannot go ahead, and fossil fuels will have to stay where they belong: in the ground.
To date, over 1,000 institutional investors marshalling nearly $9 trillion in assets have committed to divest from fossil fuels. The divestment movement represents a powerful response to the urgent needs to scale investment in climate solutions, and to make it difficult for the fossil fuel industry to access capital or to maintain support for further expansion.
Leaders from all levels of community and government are gathering in Cape Town in September at the Financing The Future summit, to explore how we can put an end to fossil fuel finance and advance a just transition to 100% renewable energy for all.
Every commitment to take money out of fossil fuels and put it into energy solutions is a signal to governments that a mobilized constituency has their backs as they work to implement policies to stop runaway climate breakdown.