This includes putting public pressure on companies that are currently involved in fossil fuel extraction to invest in renewable energy. Motivations for divestment Reducing carbon emissions įossil fuel divestment aims to reduce carbon emissions by accelerating the adoption of the renewable energy transition through the stigmatization of fossil fuel companies. In October 2021, a total of 1,485 institutions representing $39.2 trillion in assets worldwide had begun or committed to a divestment from fossil fuels. In 2012, Unity College in Maine became the first institution of higher learning to divest its endowment from fossil fuels.īy 2015, fossil fuel divestment was reportedly the fastest growing divestment movement in history. 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.įossil fuel divestment campaigns emerged on campuses in the United States in 2011 with students urging their administrations to turn endowment investments in the fossil fuel industry into investments in clean energy and communities most impacted by climate change.
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