Investors controlling about $2.6tn in total assets have made commitments to cut back or sell out of their holdings in fossil fuel companies, campaigners say, signalling the growing momentum of the divestment movement.
Campaigners concerned about the threat of climate change argue that investors have a moral responsibility not to finance activities that lead to high emissions of greenhouse gases, and that forthcoming climate policies are likely to make those activities unprofitable.
Ellen Dorsey of the Wallace Global Fund, a foundation that works on environmental and social issues, said the divestment campaign had evolved from “a few scrappy students” into a global movement.
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