It’s incredible: in just the past few weeks, we’ve witnessed a huge global shift in money being pulled out of the fossil fuel industry. After years of pressure from the divestment movement, major banks, pension funds and investors are finally turning their backs on companies that make their profits from fueling the climate crisis. There’s unstoppable momentum.
Whether it’s massive new coal mines and tar sand pits cancelled or major banks climate-proofing their loan portfolios – together our activism has made funding oil, coal and gas projects into bad business.
The power of the fossil fuel industry is weakening fast. But we don’t have much time left to stop the money pipeline completely and this year will be critical.
People everywhere have pushed their local institutions to cut ties with this toxic industry, organised local resistance to fossil projects, protested in the streets, and chipped in whatever money and time they can spare. It all helps tip the scales towards the end of the fossil fuel era.
The fossil fuel industry is clutching at straws. And we know they can’t hold on much longer if ordinary people keep pushing our financial institutions to take a stand. All banks and financial institutions must divest now and the last few weeks have proven that this will be a crucial year to make it happen.
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