Norway’s sovereign wealth fund divests from 52 coal-related firms

Norway’s $860 billion (£604bn) sovereign wealth fund, the biggest in the world, has unveiled a list of coal-related companies that will be excluded from its portfolio. The 52 organisations include American Electric Power, China Power International Development, Tata Power, UK’s Drax Group, Japan’s Hokkaido Electric Power and Australia’s New Hope Corporation. It is in line […]

Rockefeller Family charity blasts ExxonMobil, ditches fossil fuels

The Rockefeller Family Fund has announced its intention to divest from fossil fuels and “eliminate holdings” of ExxonMobil. The family-led public charity said the process will be completed “as quickly as possible”. It singled out ExxonMobil, describing the oil giant’s conduct on climate issues as “morally reprehensible”. It added while the global community works to […]

French energy giant Total ends coal production

French energy giant Total has confirmed it is no longer producing coal. The news follows the sale of mine operator Total Coal South Africa. CEO Patrick Pouyanné said the decision was “a matter of both consistent strategy and our credibility”. He added: “Faced with the issue of climate change, Total is committed to promoting the […]

Boris Johnson urged to divest £4.8bn from fossil fuels

An elected watchdog for London which scrutinises the Mayor’s plans and programmes has voted in favour of fossil fuel divestment. The London Assembly is calling on Boris Johnson to divest the £4.8 billion London Pension Fund Authority’s pot from fossil fuels in the next five years. The members voted this week, with a majority of […]

Church of England faces pressure to ditch fossil fuels

Oxford has become the first Church of England diocese to join a growing movement of investors and commit to divesting from fossil fuel assets. The Oxford Diocesan Synod has also passed a motion calling on the Church of England diocese to follow them and commit to divest from coal, oil and gas companies. By a […]

Swedish city ditches fossil fuel investment

The Swedish city of Orebro has pledged to pull its funds out of fossil fuel companies. It is believed to have already reduced its investments in energy firms from more than €2 million (£1.6m) to €655,000 (£519,196) as Orebro aims to be a fossil-free municipality by 2050. The city joins a growing movement of cities, […]

Rockefellers to ditch fossil fuel assets

The heirs to the Rockefeller family, which made its vast fortune from oil, are to ditch fossil fuels. The Rockefeller Brothers Fund, built with profits from their great-grandfather’s Standard Oil Corporation, is selling investments in the fossil fuel industry. It is joining a coalition of philanthropists pledging to rid themselves of more than $50 billion […]

US University to ditch fossil fuel investment

A Catholic university in the US has pledged to stop investing in fossil fuel projects. The University of Dayton said it will begin divesting coal and fossil fuels from its $670 million (£394.7m) investment pool following unanimous approval from its board of trustees. It will initially eliminate fossil fuel holdings from its domestic equity accounts […]

Stanford University to stop investing in coal firms

Stanford University has announced it will sell off its investments in fossil fuel companies, a move aimed at combating climate change. The Stanford Board of Trustees approved a resolution pledging not to directly invest in companies for which coal extraction is their primary business and will divest any current holdings in such firms. The vote […]