If February was big in the divestment world, this month the movement didn’t bother catching a breath. Nope — the movement is growing bigger, bolder, and MARCH-ing ahead full steam (ha, see what we did there?). And not only are the ranks growing within the movement, we’re also gaining widespread acknowledgement from some actors you might not have expected — the Bank of England, the United Nations, and Peabody Coal, for starters.
We’ve said it before, and we’ll say it again — fossil fuels are on their way out, and the industry knows it. Financial actors are coming to recognize it too. So what the heck is everyone else waiting for? It’s time to divest.
And with climate negotiations in Paris on the calendar for December, the world is watching. Until then, we’ve got to organize like crazy.
First, let’s take a few moments to celebrate some of the amazing victories we’ve roped in this month!
GLOBAL CAMPUS UPDATES
USA: Syracuse University divests
This school has a whopping $1.18 billion endowment that it has committed to divest from direct fossil fuel investments — thanks to the hard work of Divest SU and ESF! This commitment came after an 18 day sit-in last November that students held at their administrative building. That’s a clear lesson that pressure works. Campus activists have pledged to keep fighting until the university is fully divested from all fossil fuels, but this is still a big win. Read more here.
UK: Oxford alumni occupy university building
Enough pandering, Oxford. When the university announced it was deferring its decision on whether to dump its shares in fossil fuels (again), Oxford alumni stepped it up big time by occupying a university building and demanding divestment. Oxford’s former Director of Finance even joined the action! On top of that, alumni vowed to “hand back degrees” if it doesn’t divest. Read more here.
USA: Students go big and bold with direct action
On March 19th, a group of 43 students and alumni with Swarthmore Mountain Justice sat down in the Swarthmore investment office and refused to leave. Their extended sit-in launched a wave of escalated action on campuses around the country this spring, urging universities to divest and reinvest in just solutions. Next, students from Divest UMW joined the action — check out their video here. Then Bowdoin Climate Action sat in — read more here. But that’s not all — there’s more in the works this spring, including Harvard Heat Week April 12th – 17th. Stay tuned and follow the ongoing action at #whoseside.
GLOBAL COMMUNITY UPDATES
USA: Minneapolis shows MN how it’s done
On March 20th, the City of Minneapolis passed a fossil fuel divestment resolution, banning any future investments in the companies driving the climate crisis. They’re also leading the way by calling on over 30 other Minnesota institutions to divest. Major props to all the folks that organized to make this happen, including MN350!
France: Paris passes a crucial motion — add your voice to make it a reality!
The city that’s hosting the crucial climate talks later this year passed a motion to divest from fossil fuels. Naomi Klein, Bill McKibben and over 1400 others have signed an open letter to Paris’ Mayor calling for Paris to turn the motion into a reality quickly and set a good example by divesting ahead of the COP talks. Sign the letter (English). Click here to sign the French version.
UK/USA: 350.org & The Guardian team up
The Guardian, one of the world’s most respected and influential news organisations, joined the fight to keep fossil fuels in the ground this month. In a watershed moment for our growing movement, The Guardian set its sights on the contradictory fossil fuel investments of two of the largest philanthropic health and development organizations: the Bill & Melinda Gates Foundation in the U.S. and the UK’s Wellcome Trust. Both are heavily invested in the industry wreaking havoc on our climate — a position that’s completely at odds with their missions to create a better world. So far, the petition has landed more than 178K signatures. On top of that, The Guardian Media Group itself decided to put its money where its mouth (and front page) is at, and divested its £800m fund from fossil fuels – that’s $1.2bn and the largest divestment commitment to date so far! Read more about the partnership here.
Vietnam: Indochina Capital goes renewable
Indochina Capital committed to invest in renewable energy — a big win for our friends in Vietnam, organizers with 350.org East Asia, and a crucial step toward reinvesting in a healthier, more sustainable future.
Australia: Cities in New South Wales ride the wave
Within just a week, two New South Wales city councils voted to divest from fossil fuels. Lismore City Council in some of Australia’s best cattle grazing countryside, and Leichhardt Municipal Council located along the edge of the Sydney harbor, both divested within just a week of each other. Read more here.
Netherlands: 10,000+ strong petition to world’s 5th largest pension fund
Dutch campaigners met with ABP — the Netherlands’ largest pension fund and the world’s 5th largest — to deliver more than 10,000 signatures demanding divestment. What do you say to that ABP? Read more here.
That’s a wrap, folks!