Fossil Fuel Divestment and the New Campaign by the Guardian Newspaper and 350.org

The divestment movement has been busy since global Fossil Fuel Divestment Day in February, with news that hundreds of thousands of academics, engineers and lawyers in Denmark will vote on divesting their €32bn pension funds from fossil fuel investments in April, and that Oxford University is facing protest demonstrations because it has deferred a vote on divestment till May. In March, The Guardian newspaper in the U.K. and 350.org launched the Keep it in the Ground campaign, asking the Wellcome Trust and Gates Foundation to divest their endowments from fossil fuels. The Guardian has been relentlessly posting information and arguments for the cause of divestment: “Bank of England warns of huge financial risk with fossil fuel investments”(March 3); “Mark Carney defends Bank of England over Climate Change Study” (March 10); “UN Backs Fossil Fuel Divestment Campaign” (March 16); “Wellcome Trust sold off 94 million pound ExxonMobil oil investment” (March 18) and, “Revealed: Gates Foundation’s $1.4bn in fossil fuel investments” (March 19). The retiring editor of The Guardian newspaper, Alan Rusbridger,  announced the paper’s new editorial stance in “Climate change: Why the Guardian is Putting Threat to Earth Front and Centre” (March 6). He states: “The coming debate is about two things: what governments can do to attempt to regulate, or otherwise stave off, the now predictably terrifying consequences of global warming beyond 2C by the end of the century. And how we can prevent the states and corporations which own the planet’s remaining reserves of coal, gas and oil from ever being allowed to dig most of it up. We need to keep them in the ground”.

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