Please divest your Global Pension Fund from fossil fuels, starting with companies mining and burning coal. Be a climate leader by reinvesting in a just transition to a 100% clean future fully powered by renewable energy.
For years, Norway has worked for a just and strong global climate deal, and has achieved impressive progress by becoming one of the few countries in the world fully powered by renewable energy. Its sovereign wealth fund, however, keeps getting richer from decades of exploiting vast oil and gas reserves.
What’s more: the fund is heavily invested in fossil fuels, including more than US$10bn in companies that mine and burn coal – one of the dirtiest and most polluting of fossil fuels. The coal industry not only contributes to climate change: every year, it’s responsible for 800,000 premature deaths around the world, polluting our air, rivers and communities.
Coal investments make up only 1.2% of the fund’s US$867bn investment portfolio, yet this is enough to make the fund one of the ten largest coal investors in the world.
In May and June this year, you can help us shift Norway’s dirty savings of the past into positive future impact for all. The fund’s investment policy comes under review in the Norwegian Parliament, and the country has a unique opportunity to stop profiting from the disaster its investments are causing, by divesting from fossil fuels, starting with coal.
Moving out of coal would be a small step for Norway (2 out of 3 Norwegians are in favour of it), but a big message to the international community. Join us in making that happen.
Pat: “My granddaughter’s next breath is more precious than Duke Energy’s profit” Kate: “Coal isn’t cool. I can’t imagine my life without an inhaler”
800,000Premature deaths per year attributed to coal burning worldwide
1.2%coal investments as a percentage of the total fund size
The fund’s investments are not just numbers on a spreadsheet.
They are mines, port terminals, power plants and other infrastructure in the coal industry. They are climate impacts that raise sea levels, super-charge hurricanes, intensify droughts and floods. They are a real and present, harmful danger to people all over the world.
Here are some pictures and messages from those frontlines: