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“Not only has the movement created this incredible momentum for divestment, but it has spread to other strategies targeting the fossil fuel industry, including calling on banks to stop financing new fossil fuels, insurers to stop underwriting fossil fuels, litigation targeting the industry for damages, calls for governments to stop subsidizing the industry, and politicians to stop taking money from fossil fuel companies, or their executives, so that we can get government to regulate for the public good, not for corporate profit.”
GUEST: Ellen Dorsey, executive director of the Wallace Global Fund
SHOW NOTES: A decade ago, hopes that world leaders would rally around meaningful policies to combat climate change were at a low. The 2009 United Nations climate conference in Copenhagen had ended with little to show for it and the U.S. failed to pass a major climate bill the following year.
Then in 2011, the first divestment campaigns struck up on college campuses.
In the climate space, divestment is all about shifting capital out of fossil fuels — the largest source of greenhouse gas emissions from human activity worldwide. The concept of divestment isn’t new, but it is gaining momentum. It’s also evolving and expanding into other areas of the financial system.
Meanwhile, there is a separate but related flurry of activity on the invest side of the equation and moving money into socially responsible and environmentally friendly solutions. Divest/Invest.
On this episode of Political Climate — the first in a new miniseries we’re calling DITCHED: fossil fuels, money flows and the greening of finance — host Julia Pyper speaks to Ellen Dorsey, executive director of the Wallace Global Fund, about the origins of the Divest/Invest movement.
The Wallace Global Fund, a private foundation focused on progressive social change, is a founding member of the Divest Invest: Philanthropy, a coalition of more than 170 foundations committed to deploying their investments to address the climate crisis and accelerate the clean energy transition.
by Amy Lupica, ODP Staff Writer Come on, Barbie! Let’s go…recycle? You read that right; Mattel has introduced a new program called “Mattel PlayBack,” where kids of all ages can send in their old toys to be recycled into new ones. While the pilot program will only be available in the U.S. and Canada, Mattel hopes to have programs […]
by David Kuhn, Lead, Corporate Resilience, World Wildlife Fund A growing number of companies have responded to the climate change threat by championing sustainable solutions like deforestation-free production and clean energy. But as laudable and essential as these efforts are, climate change has progressed to the point where sustainability alone is no longer a sufficient […]
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