350.org has responded to comments on divestment from fossil fuels made by BP CEO Bob Dudley in his keynote speech as the ‘Petroleum Executive of the Year’ during the Oil & Money conference currently being held in London.
“Once again the fossil fuel industry has shown its true colours. It is utterly staggering that the week the IPCC release a major scientific report detailing the catastrophic impacts of a 1.5°C rise, BP choose to argue for further fossil fuel extraction. We are standing at a fork in the road, and it’s simple- to keep global warming below 1.5°C, coal, oil and gas needs to stay in the ground, the fossil fuel industry has to go,” said May Boeve, 350.org Executive Director
Since 2012, 350.org has campaigned for fossil fuel divestment which aims to take the fossil fuel industry to task for its culpability in the climate crisis. To date there have been over 988 divestment commitments made including by Ireland, New York City, London and hundreds of other iconic institutions. Current total value of institutions divesting has reached USD 7.17 trillion.
“As we see the devastation from climate impacts unfold worldwide, the public‘s demand to turn away from fossil fuels is more urgent than ever. By choosing to discredit divestment campaigning, Bob Dudley has shown that it is in fact working and is having a big impact globally. Now it’s time for decision makers across the globe to follow suit and commit to divest”, continued Boeve.
On Saturday the 13th of October, people worldwide will launch a global coordinated delivery of the recently released IPCC report to decision makers across the globe. The actions demand that all institutions withdraw their support from the fossil fuel industry and stand up to them before it’s too late. Events will take place in over 100 different locations and include banner drops, hand deliveries and other forms of creative action.