Posts Tagged ‘divestment’
HSBC to end funding for new oil and gas fields
This article was written by Esme Stallard and originally published by BBC on December 14, 2022. HSBC has announced it will stop financing new oil and gas fields, as part of its efforts to drive down global greenhouse gas emissions. Environment groups said the move sends “a strong signal” to fossil fuel giants that investment…
Read MoreStop Greenwashing, Set Regulated Net-Zero Targets, McKenna Task Force Urges
This article was written by Mitchell Beer and originally published in The Energy Mix on November 9, 2022. Climate science and the depth of the climate emergency demand that industries, financial institutions, cities, and regions commit fully to real net-zero targets, end new fossil fuel investment, stop greenwashing their activities, start lobbying for rather than…
Read MoreTwo economies collide: Competition, conflict, and the financial case for fossil fuel divestment
A recent report written by Tom Sanzillo, Dan Cohn and Connor Chung published by the Institute for Energy Economics and Financial Analysis highlights how poorly fossil fuel stocks have done over the past decade. The report highlights the political influence behind continued fossil fuel presence despite the evergrowing ethical and financial argument in favour of…
Read MoreEmpty ESG Pledges Ensure Bonds Benefit Companies, Not the Planet
This article was written by Priscila Azevedo Rocha, Akshat Rathi, and Todd Gillespie and originally published in Bloomberg on October 4, 2022. Fashion giant Chanel, known for its iconic perfume and tweed suits, keeps up to date with changing tastes. These days that means showing consumers—and investors—that it’s doing its part to combat climate change.…
Read MorePrinceton moves to sever financial ties with fossil fuel companies
This article was written by Francesca Maglione and re-published in the IEEFA on September 30, 2022. Princeton University is moving to sever financial ties with fossil-fuel companies, including energy giants Exxon Mobil Corp. and Suncor Energy Inc., as the school distances itself from major greenhouse-gas emitters. The university’s endowment, the fourth-largest in the US, “will…
Read MoreA fine line’: Canada’s big banks have long stood by the oilpatch, but ESG pressures are changing things
This article was written by Barbara Shecter and originally published in the Financial Post on August 22, 2022. If you want to understand the sway Canada’s energy sector has historically held over the country’s big banks, you need only look back a few years to a controversy stirred up when Canadian Imperial Bank of Commerce…
Read MoreHealth pensions must divest of fossil fuels
This article was written by Mike Apostol, Travis Frampton, Mike Kurz, and Magdalene Winterhoff and originally published in The Hamilton Spectator on July 7, 2022. Recently, 130 Australian health-care workers noisily walked away from their pension plan. Why would health-care workers walk away from a valuable retirement savings scheme? Because their pension fund, HESTA, still has billions…
Read MoreIs one of Canada’s largest pension funds quietly divesting from fossil fuels?
This article was written by Paul Burns, Aislinn Clancy, and Melissa Rosato and originally published in Corporate Knights on August 9th 2022. As the burning of fossil fuels presents us with yet another summer of catastrophic impacts, the pressure is growing for institutional investors to either phase out their oil, gas and coal and pipeline…
Read MoreStatement from Shift Action for Pension Wealth and Planet Health on the Ontario Teachers’ Pension Plan’s 2021 Annual Report
This statement was originally published by Shift on March 25, 2022. Toronto, ON – With the release of its 2021 annual report this morning, the Ontario Teachers’ Pension Plan (OTPP) solidified its position as a climate leader among Canadian pension funds. The OTPP has made laudable progress toward its 2050 net-zero target, reducing the emissions…
Read MoreIt’s time to consider divesting our pensions from fossil fuels
This article was written by Riley Hill and originally published on the BCTF website. For many of us in BC, 2021 was a wake-up call. The heatwave that ripped through our province shattered temperature records and killed 595 people. The town of Lytton burned to the ground, and approximately one billion sea animals baked in…
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