Commitments doubled over the past 15 months; global call for a clean energy economy continues to strengthen as a former top Mobil Oil executive and thousands of signatories join the DivestInvest movement
The scope of global fossil fuel divestment has doubled over the past 15 months, with institutions and individuals controlling $5.197 trillion in assets pledging to divest. The announcement comes on the first anniversary of the Paris Agreement on climate change.
“One year after the adoption of the historic Paris Climate Agreement, it’s clear the transition to a clean energy future is inevitable, beneficial and well underway, and that investors have a key role to play,” said UN Secretary-General Ban Ki-moon. “I commend today’s announcement that a growing number of investors are backing a shift away from the most carbon intensive energy sources and into safe, sustainable energy. Investments in clean energy are the right thing to do — and the smart way to build prosperity for all, while protecting our planet and ensuring no one is left behind.”