Tuesday, December 13, 2016
Arabella Advisors Report Finds Divestments from Fossil Fuels Top $5.2 Trillion
Investing heavyweights are moving their assets and funds out of fossil fuels at a record pace.
A network of local governments, pension funds, faith organizations, philanthropies and wealthy individuals representing $5.2 trillion in assets have committed to — and in some cases already started — divesting from fossil fuel companies, according to a report released on Monday.
That’s a huge sum of money for a movement that started just four years ago on U.S. college campuses and its growth is likely to continue as the world strives to reach its climate goals...