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June 11, 2019

Update (June 11, 2019): The Norwegian Parliament is expected to vote tomorrow, June 12, to mandate the country’s pension fund, known as the Oil Fund or Government Pension Fund Global, to sell off holdings in a selection of natural gas, and coal companies while increasing investments in renewable energy companies.  The move follows a March …

June 11, 2019

It’s the workers benefitting from pension funds who are often the ones lost in the divestment debate. They rely on robust returns from those funds to support their retirement and maintain financial independence. Thankfully, amid the political back-and-forth, a retired firefighter from New York brings the focus back to where it belongs: the workers and …

June 11, 2019

New York Comptroller Tom DiNapoli reasserted his position against fossil fuel divestment this week as he rolled out a new report detailing plans to increase select “sustainable investments” and engagement efforts. Despite pressure from some upstate politicians, DiNapoli has long chosen action over divestment, calling the empty gesture a costly effort that goes against his …

May 24, 2019

This week, the Church of Scotland voted against a divestment motion aimed at oil and natural gas companies. The 303-263 tally deals another blow to worldwide divestment campaigns. Even pro-divestment outlet The Guardian admitted the defeat, reporting: “Although the general assembly voted to ‘recognize and affirm the declarations of the Scottish government, UK parliament and …

May 21, 2019

In a press release that sounded more like it was written by 350.org instead of a U.S. Senator’s office, Oregon Democrat Jeff Merkley announced the introduction of a bill on Capitol Hill that would present fossil fuel divestment as an option to federal workers. Sen. Merkley introduced the bill last year as well, but it …

May 10, 2019

In the past week, investment experts at two of the nation’s largest state pension funds have stated that worldwide divestment campaigns are misguided, financially irresponsible, and ironically, would cause more harm to the environment. These statements aren’t coming from the energy industry or even the business community, but from officials who are responsible for delivering …

May 2, 2019

The New York State Comptroller’s office laid out a multitude of reasons for why they view mandated divestment as a bad idea during a marathon Finance Committee hearing on Tuesday.  Up for debate was SB 2126, a pro-divestment bill sponsored by State Senator Liz Krueger who also chairs the Finance Committee. The bill would require …

April 28, 2019

On Tuesday, April 30 the New York State Senate Standing Committee on Finance will hold a public hearing to discuss the issue of divesting the New York State Common Retirement Fund from fossil fuels as outlined in recently proposed state Senate Bill S.2126. The hearing for the bill comes amid calls from select New York …

April 25, 2019

This week marks Heat Week at Harvard, a series of events dedicated to promoting divestment on campus. Yet much to the dismay of activists, the school continues to choose active solutions over empty gestures. From the mouths of Presidents current and past, spokespersons and editorial boards, divestment has been firmly rejected. First up on the …

April 23, 2019

350.org is (unsurprisingly) attempting to make news around the City of Denver’s “divestment” from fossil fuels. In reality, this decision is as empty as it is misguided. First off, the city’s own Chief Sustainability Officer states, “We never held stock in coal, oil or gas companies, and our Mayor has no control over the employee …

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