… as institutions representing almost AUD $7 trillion commit to divest
Third annual report reveals global commitments reach 688 institutions spanning 76 countries
SYDNEY, 13 December — The global movement to divest from fossil fuels has doubled in size since September 2015, and Australia is leading the world in divestments according to the third annual Global Fossil Fuel Divestment and Clean Energy Investment Movement report from Arabella Advisors. The report, released today by the Divest-Invest network, comes exactly one year after world governments reached the Paris agreement on climate change.
Global commitments to divest have reached 688 institutions across 76 countries, representing AUD$6.7 trillion in assets under management.1 Australia has more divested institutions per capita than any other developed country, and is second only in absolute number of divestments to the US.
This includes 30 local councils – such as Hobart City Council –, 10 super funds, 7 universities and institutions such as Australian Capital Territory’s government, Australian Academy of Science, the Royal Australasian College of Physicians, National Tertiary Education Union.
“As the Turnbull Government stutters to a stop on climate action the success of the divestment movement in Australia and around the world is undeniable,” said 350.org Australia CEO Blair Palese. “In the face of intensifying climate impacts, and a government that is more interested in building coal mines than wind turbines, it’s more critical than ever that our institutions — especially at the local level — step up to break free from fossil fuel companies.”
Download Arabella divestment …
Arabella-divestment-Australia.docx
Cambell Klose Media & Communications Coordinator 350.org Australia
