From our friends at Fossil Free Canada (gofossilfree.ca):
If it is wrong to wreck the climate, then it is wrong to profit from that wreckage. We believe that universities, religious institutions, city and state governments, and other institutions that serve the public good should divest from fossil fuels.
We want institutions to immediately freeze any new investment in fossil fuel companies, and divest from direct ownership and any commingled funds that include fossil fuel public equities and corporate bonds within 5 years.
200 publicly-traded companies hold the vast majority of the world’s proven coal, oil and gas reserves. We’re asking our institutions to divest from these companies, as well as pipeline companies responsible for the expansion of fossil fuel projects. Our demands to these companies are simple, because they reflect the stark truth of climate science:
- They need immediately to stop exploring for new hydrocarbons.
- They need to stop lobbying in Washington and state capitols across the country to preserve their special breaks.
- Most importantly, they need to pledge to keep 80% of their current reserves underground forever.
350 Ottawa is campaigning for divestment by universities, community associations, religious institutions and municipal governments in the National Capital Region as well as individuals. Our digital newspaper brings together current articles on the divestment movement each week. Our Investment Page offers individuals suggestions for a place for them to start.