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Mayor de Blasio's proposal to the pension board to divest from coal and consider climate change as part of the city's long-term investment strategy will help us meet our goal of reducing carbon emissions by 80% by 2050. ... We hope that the pension boards will now follow Mr. De Blasio's lead and divest from the coal industry."
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US Bank Divestment Rebuked. Shredding a coal lobby argument US Bank's successful coal diverstment campaign. F. actual errors, ... In 2016, for example, only 160,000 U.S. jobs were in the coal industry, while 370,000 were in the solar industry, 130,000 in the bioenergy industry, 101,000 in the wind power industry, 76,000 in the nuclear power ...
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Why should universities divest from coal-fired utilities and coal mining companies? Coal is a dirty, dangerous fuel—obtaining it destroys mountains, burning it releases hazardous emissions, and disposing of it results in hazardous toxic waste. ... and 280,000 severe asthma attacks are attributable to the coal industry. Coal is the largest ...
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Right now coal is trading at around $US80 a tonne, depending on the definition you use. It needs to be north of something like $90 for your wretched coal industry to even be revenue positive. And you lemmings are going hell-for-leather to bring MORE coal production on line.
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The Coal Conundrum: Rethinking Divestment. If the goal is a net-zero portfolio, divesting might seem the path of least resistance, especially when it comes to coal. But it may hardly move the needle on achieving a net-zero economy. To do that, investors will likely look to expand their toolbox: engage where they can exert leverage, divest where ...
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Top 8 Actions Surrounding Coal Divestment. By Marlene Y. Satter June 11, 2015 at 09:20 PM Share & Print. X. Share with Email. ... The coal industry is deaf to investor inquiries, backward on ...
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New Delhi: A day after the International Energy Agency released its World Energy Investment Report 2020, World Coal Association (), the global representative body of the coal industry, said the ongoing movement aimed at divestment of stake in coal projects is not in line with the energy goals. Callig for mobilization of investment to support clean energy transition, WCA said the IEA report ...
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Aug 26, 2021A major focus of the social, political, and economic pressure to divest is coal mining, especially thermal coal. The fossil fuel is used to generate 34% of the world's electricity but produces...
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3 days agoDivestment is a tactic that is a "very short-term fix" that does not contribute to keeping global warming to the safe threshold of 1.5 degrees Celsius, said Yuki Yasui, Asia Pacific managing director of the Glasgow Financial Alliance for Net Zero (GFANZ).
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The significant mitigation potential of clean coal technologies invalidates the central argument of divestment campaigns. World Coal Association members welcome collaboration with other industries to innovate, and seek to work with governments, industry, and investors to deliver the clean energy transition.
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While coal combustion is still the largest source of greenhouse gas emissions in the power generation sector, a trend has been observed in coal-fired power plant project divestments, to comply ...
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Divestment is the practice of selling a security or group of securities based on principal. Divesting from the fossil fuel industry (coal, oil, and natural gas) is one strategy that concerned individual and institutional investors are using to help reduce carbon emissions, fight climate change, and create positive environmental impact.
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Around the world banks and other financial institutions are pulling their money out of the coal industry. Recent research authored by IEEFA's Buckley finds that more than 100 major financial institutions have restricted coal funding since 2013. The pace is accelerating. At least 34 of these divestments occurred just since the start of 2018.
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The carefully-researched report reveals that the University of Sydney has around $1 million of its endowment invested in Whitehaven Coal. The actions of this company place it in direct conflict...
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According to the report, at least 65 insurers with combined investments of US$12 trillion have either adopted a divestment policy or committed to refuse investing in coal, up from 35 companies and US$8.9 trillion of assets last year. At least 23 insurers and reinsurers have now ended or limited their cover for coal projects, up from 17 in 2019.
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BlackRock owns positions worth $84bn spread across 200 companies that produce or burn coal. The world's largest asset manager has divested from fossil fuel companies that generate more than 25 per...
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Feb 25, 2021As of January 2021, institutional investors such as pension funds, asset managers and insurance companies around the world held investments worth more than $1 trillion in coal, with U.S. investors collectively holding 58% of the institutional investment in the global coal industry.
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By Alex Lenferna On May 14th, the University of Washington made fossil fuel divestment movement history by becoming both the richest public university and the school with the biggest student body to divest so far - although thanks to the power of the divestment movement, Oxford University took the former title just days later. More specifically the UW committed to remove thermal coal from ...
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A recent investigation by Greenpeace suggests that the University of Sydney, at least for the moment, falls short of its own principles. The carefully-researched report reveals that the University of Sydney has around $1 million of its endowment invested in Whitehaven Coal. The actions of this company place it in direct conflict with the ...
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Wednesday, 22 Jan 2020 9:38 PM MYT PARIS, Jan 22 — Investment behemoth BlackRock's decision to divest holdings in companies reliant on coal may encourage more climate-friendly finance but raises questions over how investors prioritise the future of the planet, analysts and industry insiders said today.
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27 November 2019 Axa has said it intends to totally divest from the coal industry in Organisation for Economic Co-operation and Development and EU countries by 2030, and globally by 2040. The...
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Coal Divestment will be a good beginning in our effort to fight UNC's reputation as an irresponsible steward of our endowment funds. On Campus Sustainability Day, The Daily Tar Heel published a strong editorial in support of our Coal Divestment campaign, taking UNC to task for failing to account for the university's $2.2 billion endowment in its 2011 Campus Sustainability Report: UNC still ...
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Motion increases pressure on CEOs meeting in city to divest and withdraw insurance The Paris city council is calling on the world's biggest insurance companies to end support for the coal industry, citing its impact on climate change and the pollution that causes 23,000 premature deaths across Europe every year. The latest action follows the .
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Feb 24, 2021A divestment strategy, based on ethical considerations, must act to mitigate these acute social impacts, ensuring local communities are not overlooked in the goal to get coal assets off our hands. The risk is that divestment is a distraction from what needs to be done. Cutting out coal requires a multi-pronged strategy.
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Fossil fuel divestment or fossil fuel divestment and investment in climate solutions is an attempt to reduce climate change by exerting social, political, and economic pressure for the institutional divestment of assets including stocks, bonds, and other financial instruments connected to companies involved in extracting fossil fuels.. Fossil fuel divestment campaigns emerged on campuses in ...
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Asked why the divestment campaign has been targeting the coal industry, sometimes singling out coal companies above oil and gas companies, Sporton pointed to universities (Brown, Harvard and Yale ...
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According to a new report by Oil Change International, leading industrialised nations - the G7 plus Australia - are still spending a combined $80 billion a year on public support for fossil fuel production. This is 40 times more than the $2 billion a year they give to the Green Climate Fund.
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A student-led organization known as Fossil Free Stanford petitioned the university last year to divest from 200 fossil-fuel extraction companies as part of a national divestment campaign. The ...
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May 26, 2021NYSTRS, Divest NY said, has more than $300 million invested in companies with substantial coal reserves and it owns shares of 36 companies heavily invested in coal. It has purchased 6.2 million...
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A campaign to pressure U.S. insurers to divest from fossil fuel underwriting and investments is being launched, with a major insurtech company becoming the first U.S. sector player to publicly ...
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Feb 9, 2021The port is the largest thermal coal terminal in the world, last year exporting 160 million tonnes and accounting for 99.2 per cent of its exports by volume. ANZ was previously a major lender to the port as part of its $950 million debt pile, but in November the port refinanced and ANZ took the opportunity to divest.
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May 2, 2022A federal bill proposed last month by the U.S. House's top recipient of coal industry money would prohibit financial advisers from considering ESG — environmental, social, and corporate governance — factors when making investment decisions. Now the fight against ESG considerations is spilling out of the halls of Congress and state legislatures.
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So much so that the industry site Greentech Media publishes an annual list of solar company failures [3], and has noted that "[k]eeping track of failing solar companies in 2011 and 2012 bordered on full-time work." Alternative energy is subject to the whims of political actors, just as coal, oil and gas are.
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Jun 2, 2021But China's booming coal industry runs against the grain. ... That fund started its coal divestment in 2014, also due to Urgewald's campaigns, and tightened its guidelines in 2019. Nevertheless, coal-fired power plant developers in particular are falling through the cracks, making it still the seventh largest investor in China's biggest ...
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Nov 27, 2019Axa said it intended to exit the coal industry by 2030 in Europe and other members states of the Organisation for Economic Co-operation and Development, and by 2040 in the rest of the world. Its...
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UN Climate Change News - The fact that countries are now implementing the Paris Climate Change Agreement will on balance lead to more divestment from coal and other fossil fuels than it will spark a rush to burn up the world's remaining fossil fuel reserves, according to a new study.
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Similarly, in the largest divestment commitment to date, Norway's $900 billion sovereign wealth fund said it would divest from 122 coal companies, citing climate and financial risks. But the...
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By comparison, a mayor asking his city's pension funds to divest $33 million of its $160 billion pension funds from coal isn't that consequential for U.S. coal executives. De Blasio's push doesn't add up to a huge, or even meaningful, shift in the economics of the coal industry. New York is not alone in the divestment push.
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Likely Democrat U.S. Senate candidate Alison Grimes launched her 50-county jobs tour last week, just as news broke of Stanford University's decision to divest its stock in coal companies, which
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Why should the University of Illinois divest from coal-fired utilities and coal mining companies? ... and 280,000 severe asthma attacks are attributable to the coal industry. Coal is the largest source of mercury pollution in the country, affecting 1 in 12 U.S. women, and damages from the coal industry cost the U.S. $100 billion a year in ...
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