Divesting works: Study finds ditching fossil stocks lowers corporate footprints

Corporate Knights

For the leaders of the divestment movement, which encourages institutional investors to sell off their shares in fossil fuel companies, winning isn’t everything. But after a decade of determined lobbying, the divest side is suddenly doing a lot of winning.

Is one of Canada’s largest pension funds quietly divesting from fossil fuels?

Corporate Knights

The sale marks the third time in the last year that OMERS has divested a major fossil fuel asset. . As pension plan members, we’ve been asking OMERS to either demonstrate how its fossil fuel assets have credible decarbonization pathways or divest them.

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Divestment Doesn’t Close Door on Engagement

Chris Hall

An investor’s decision to divest “doesn’t mean an end to all ESG-focused engagement with that company”, according to Eric Nietsch, Head of Sustainable Investing for Asia at Manulife Investment Management. . There’s ultimately a place for both engagement and divestment,” said Nietsch. “If

Divested Interests?

Chris Hall

Achieved through marginal changes in portfolio allocations and the opportunistic divestment of just a few stocks, such reductions can be used to present an unjustifiably favourable image of the environmental credentials of a portfolio. The post Divested Interests?

Divesting from Russian Investments

Chris Hall

To divest or not to divest? Another is establishing the liquidity levels of those investments which enable rapid divestment. Many began the divestment process because of evidence of systematic human rights abuses and corruption led from the very top.

Louisiana Divesting $794 Million from BlackRock to “Protect” Funds from ESG Investing

ESG Today

According to a statement from the Treasury, the divestment comes in response to reports that “BlackRock has urged companies to embrace “net zero” ESG (Environmental, Social and Governance) investment strategies,” which would harm the state’s fossil fuel industry.

Californian Pension Funds Face Forced Divestment of Fossil Fuel Holdings

Chris Hall

The California State Teachers’ Retirement System (CalSTRS) and the California Public Employees’ Retirement System (CalPERS) have “wildly exaggerated” the costs of divesting fossil fuel holdings, according to climate activist group Fossil Free California (FFC).

Investors Expect to Divest to Meet Net Zero Targets

Chris Hall

Institutional and wholesale investors are increasingly willing to divest oil and gas firms and other carbon-intensive holdings to meet net zero commitments, according to a new global study. . Divestment appetite .

HESTA: Divestment remains last resort for four climate 'watchlist' firms

Environmental Finance

HESTA said divestment on climate grounds from four energy firms it has warned of intensified engagement is its option of last resort - but remains possible if their response to engagement is "insufficient

The changing complexion of divestment, as managing polluters turns vogue

Eco-Business

Divestment could also be driven by economic factors, though a runaway pullout of funds would harm markets and societies The threat of the boot can still spur polluters to clean up faster, experts and activists say.

Super fund supporting oil and gas expansion will consider divestment

Environmental Finance

Australian super fund UniSuper has announced that it will consider divestment from oil and gas companies if they show a "lack of action" and "no viable decarbonisation pathway

Divestment gets a reboot as global investors dump Russian assets

Impact Alpha

The post Divestment gets a reboot as global investors dump Russian assets appeared first on ImpactAlpha. The scenes of brutal shelling and bombardment, along with heroic resistance and popular protests, have triggered a global response of solidarity and support.

Fossil fuels: does divestment work?

Financial Times: Moral Money

Plus, a vision of a better carbon offset market, and China’s new ESG disclosure rules

NBIM Divestments Driven by Social, Governance Risks

Chris Hall

More than half of divestments by Norges Bank Investment Management (NBIM) last year were the result of unacceptable social and governance-related risks. This can escalate action to voting, and, when necessary, resort to risk-based divestment.

HESTA warns four energy firms of potential climate-related divestment

Environmental Finance

HESTA has warned four energy firms they face heightened scrutiny and potential divestment due to their lacklustre decarbonisation strategies, as the Australian pension fund announced a strengthened 2030 decarbonisation target

Students protest in climate strike demanding UI fossil fuel divestment

Environmental News Bits

Organized by the Students with Environmental Concerns RSO, students converged by Alma Mater at noon on Wednesday as part of a climate strike that aimed to draw attention to the climate crisis and demand that the University divest from its economic holdings in fossil fuels and nonrenewable … Continue reading Students protest in climate strike demanding UI fossil fuel divestment. Read the full story in the Daily Illini.

Divestment: are there better ways to clean up ‘dirty’ companies?

Financial Times: Moral Money

Even as more asset owners shun fossil fuels, some argue that a combination of engagement and the threat of denying funds would have the most effect

Why divestment doesn’t work — and just won’t die

GreenBiz

For one investor to sell a share, another must buy it. Period

Kirin gets tangled in the divestment debate

Financial Times: Moral Money

Plus, your reaction to the UN secretary-general’s call for windfall taxes on the oil and gas sector

BlackRock hit with $794m Louisiana divestment due to 'net zero' push

Environmental Finance

The treasurer of Louisiana has pledged to divest from all investments made by the state in BlackRock funds in a further escalation of the sustainable investing political backlash in the US

Largest Presbyterian church body divesting from fossil fuel companies, citing climate concerns

Environmental News Bits

The denomination’s General Assembly, meeting online, voted overwhelmingly this week for a resolution targeting Chevron, ExxonMobil, … Continue reading Largest Presbyterian church body divesting from fossil fuel companies, citing climate concerns. Read the full story from CBS News. The Presbyterian Church (U.S.A.)

Texas Places BlackRock, Credit Suisse & UBS on Divestment List for “Boycotting” Fossil Fuel Companies in Anti-ESG Backlash

ESG Today

Claims ESG investors “push a social and political agenda shrouded in secrecy” Investment and finance giants BlackRock, Credit Suisse and UBS are among a list of ten financial companies published by Texas as subject to potential divestment for boycotting energy companies.

Divesting fossil fuel stocks? That’s so last year

Financial Times: Moral Money

How investors can stay green by turning brown

Texas and other states want to punish fossil fuel divestment

Environmental News Bits

Read the full story from NPR. About ten percent of all investments in the world are now in some kind of environmental or socially aligned fund. And big financial firms like BlackRock – under pressure from shareholders – have joined the trend, attracting investors and positive media coverage by touting environmentally responsible strategies. But last… Read more → Climate change Finance

Memo to CPPIB: There’s no such thing as ‘no-carbon oil’

Corporate Knights

Responsible Investing Divestment Fossil fuel pension funds

Russia: Sanctions and divestment. The case for a nuanced approach

Tobias Webb

Likewise, companies in all sectors have been rushing to divest of holdings in Russia , or halt operations there. This piece examines sanctions and corporate divestments through a slightly more sceptical lens.

Orsted - Ørsted completes 50 % divestment of Borkum Riffgrund 3 Offshore Wind Farm

Global Renewable News

Further to our company announcement issued on.

Pressure on creatives: PR, advertising firms targeted by fossil fuel divestment movement

GreenBiz

Pressure on creatives: PR, advertising firms targeted by fossil fuel divestment movement. As with the financial divestment movement, there is a valid debate about whether engagement with high-carbon firms that are working to reduce their emissions is more effective than simply severing ties.

Social Responsibility as Divestment in the Ukraine

Christopher Mercer

Worthwhile read from the former Ukrainian Finance Minister in today’s FT… Russia’s invasion of Ukraine must prompt an ESG reckoning [link]. ESG Socially Responsible Investing (SRI

Singapore universities, energy firms respond to student fossil fuel divestment campaign

Eco-Business

Colleges are keener to address divestment than banning fossil fuels brands from campuses. Shell says it has a long relationship with Singapore's universities, and believes in 'engaging and equipping' students to tackle the energy challenge

BlackRock: divestment could cause vulnerability to supply shocks

Environmental Finance

BlackRock has warned investors that withdrawing from carbon-intensive sectors, before low-carbon alternatives are phased in, could leave their portfolios vulnerable to supply shocks

The Brief: Divesting from Russia, Mooving up, Black founders matter, smart homes in Europe, impact investing in Latin America

Impact Alpha

Featured: Institutional Impact Divestment gets a reboot as global investors dump Russian assets. The post The Brief: Divesting from Russia, Mooving up, Black founders matter, smart homes in Europe, impact investing in Latin America appeared first on ImpactAlpha.

Cambridge University to divest from fossil fuels, as momentum to decarbonise grows among world's top colleges

Eco-Business

Universities in the Asia Pacific have been slower to divest despite calls by student groups, but more are making net zero-emission pledges

Time for a fair phase out of fossil fuels

Corporate Knights

Divestment from fossil fuels is accelerating around the world. Besides dozens of universities (including Harvard and the University of Toronto), the divestment list now includes France’s Banque Postale, the State of New York, and Europe’s largest pension, ABP.

Philippine Catholic church to divest from fossil fuels by 2025

Eco-Business

The Catholic Bishops Conference of the Philippines, whose archbishops are major stockholders in the second biggest financier of coal in the country, declared that it will stop investing in banks that fund “dirty energy

Divestment a 'short-term' fix that does not decarbonise real economy: net-zero alliance Asia chief

Eco-Business

Financial institutions need to work with emitters instead of jettisoning them to green their portfolios, said panelists at the Unlocking Capital for Sustainability event organised by Eco-Business

Invest or Divest in Oil, Gas & Coal Companies? - State & City Pension Plans Are the Battleground

3BL Media

In recent years, some plan managers have trimmed portfolio holdings of fossil fuel companies (oil, gas, coal) and even divested holdings partially or in the entirety. This growing divide deepened in 2022 as more than a dozen states introduced new initiatives to divest state pension funds from gun and ammunition companies or oil and gas companies and coal companies – or conversely, to require pension fund divestment from companies that boycott fossil fuel companies.".

Major Norway pension fund weighs Brazil divestment over Amazon deforestation

Eco-Business

KLP, Norway’s largest pension fund with over US$80 billion in assets, said it may divest from transnational commodities companies operating in Brazil like Cargill, Bunge, and ADM if they work with producers who contribute to deforestation

Texas accuses BlackRock of energy company boycott in ESG clampdown

Financial Times: Moral Money

Ten financial groups face potential pension fund divestment after claim by US oil-producing state

Fossil fuel divestment might just increase carbon emissions, not lower them

Eco-Business

International oil companies have been the main target of the global divestment movement. National oil companies on the other hand, are often spared, even though they have a higher carbon footprint on average

Catholics institutions commit to divest fossil fuels and invest in climate solutions

Impact Alpha

ImpactAlpha, June 22 – The Vatican’s call last week urging Catholic congregations to divest from fossil fuels came in a 225-page manual meant to provide practical steps for implementing Pope Francis’ 2015 encyclical on climate change.

The Carbon Footprint of Billionaires is Driving Us to Climate Breakdown: What Can We Do?

Impakter

Business Climate Change billionaires Divestment Emissions Inequality Fossil Fuel investments OxfamImpakter. The Carbon Footprint of Billionaires is Driving Us to Climate Breakdown: What Can We Do?

How lobby group Alec aims to protect large oil firms

GreenBiz

The group’s strategy is modeled on legislation to punish divestment from Israel