Fossil-Fuel Divestment Tops $3.4 Trillion Mark, Activists Say
- As Paris climate talks start, figure jumps from $2.6 trillion
- Insurer Allianz, Australian pension funds among latest to join
Fossil-Fuel Producers Suffer Market Climate Crisis
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Insurers, cities and other investors controlling more than $3.4 trillion in assets have pledged to keep some or all of their money out of fossil-fuel companies -- a high-water mark for the divestment movement, according to climate-change advocates.
The number has swelled from the $2.6 trillion announced in September and the $50 billion committed just last year, in a sign of the growing political stigma associated with coal, oil and natural-gas producers, according to a statement from 350.org and Divest-Invest, two groups behind the divestment campaign.