New Fossil Fuel Divestment Report Released: Over $39Trillion Divested to Date

On the eve of the COP26 climate summit, the fossil fuel divest-invest movement released a new report detailing how nearly 1500 institutions representing an unprecedented total of $39.2 trillion worth of assets have now committed to some form of fossil fuel divestment, a figure that’s higher than the annual GDP of the United States and China combined.

With more than $46 trillion in assets worldwide, pension funds are the world’s largest asset owners and among the biggest investors in fossil fuels. Climate change poses serious risks to both pensioners and their investments. Pension fund divestment from fossil fuels not only supports sustainable growth and a transition towards a low-carbon economy, it fulfills a prudent financial responsibility to protect the rights of pensioners by refusing to profit off of companies committed to the destruction of the climate.