Some notable examples:
- In September 2019, the University of California announced that it is divesting its $13.4-billion endowment and its $70-billion pension from fossil fuels.
Sovereign wealth funds’ investments in fossil fuels decreased from $18.8 billion in 2017 to $6.4 billion in 2018. Their investments in renewables increased in that year from $0.4 billion to $5.8 billion.
- In February 2018, the University of Edinburgh decided to fully divest its £1 billion endowment fund from all coal, oil, and gas holdings.
- In January 2018, the Irish Parliament passed the Fossil Fuel Divestment Bill, voting to become the world’s first country to fully divest public money from fossil fuels. The bill is likely to pass into law after review by the financial committee.
- In December 2017, New York State and New York City released plans to freeze all current fossil fuel investments; divest state and city pension funds—representing a combined $390 billion—from coal, oil, and gas companies; and reinvest in renewable energy.
- Also in December 2017, the World Bank announced that it would no longer finance oil and gas extraction after 2019 and that 28% of its lending would go to climate action by 2020.
- In November 2017, Norway’s central bank recommended that the country’s sovereign wealth fund sell its $35 billion invested in oil companies.
- As of June 2017, the Rockefeller Brothers Fund had reduced its portfolio’s total fossil fuel exposure from 6.6% in 2014 to 1.7%; the fund’s exposure to coal and tar sands oil has been reduced to less than 0.1%.
- In 2015, Norway’s Government Pension Fund Global, worth $850 billion, divested from a total of 114 companies, including coal and oil sands companies, on environmental and climate grounds.
- In 2015, the City of Oslo announced its intention to divest its $9 billion pension fund from coal, oil, and gas companies.
- In 2014, the World Council of Churches decided to rule out future investments in fossil fuel companies.
The divestment commitments keep on mounting. Track a full list here.