Al Gore called them “subprime carbon assets.” More and more banks, companies, countries, pension funds, universities, churches, and many others are beginning to understand the considerable investment risks in the constellations of fossil fuel companies. The Norwegian Government Pension Fund Global (GPFG), the world’s biggest and most efficient sovereign wealth fund, last week jettisoned 32 coal mining companies, 5 tar sand producers, 2 cement companies and 1 coal-based electricity generator from its $850 billion portfolio. The Guardian quotes a GPFG rep here: “Our risk-based approach means that we exit sectors and areas where we see elevated levels of risk to our investments in the long term.” Continue reading
The super motivated students of NYU Divest met with the University Senate yesterday. They marked that important step forward with a great visual display of their intention. I’ve had the pleasure of being involved a bit with these students over the past year. They have a goal, a plan, and are executing it smartly.
The very impressive students at NYU Divest took a big step forward yesterday. They met with NYU President John Sexton and Exec. VP Martin Dorph and came away with several key understandings: Continue reading