November, 08 2013, 12:42pm EDT
Latest News on Divestment from Fossil Fuels
WASHINGTON
The international campaign to divest from the Top 200 fossil fuels continues to make waves across the globe. A summary of recent news is below. The campaign has already spread to over 400 colleges, cities, and religious institutions in the United States and is growing quickly in Australia, New Zealand, Canada, and across Europe, where the Fossil Free Europe tour just concluded. Follow the campaign at gofossilfree.org.
Generation Foundation report warns of stranded carbon assets
On October 30, The Generation Foundation released a report on investor risk from stranded carbon assets and how this risk should be incorporated into investment analyses. Al Gore and London based asset manager David Blood described the report's findings and compared the carbon bubble to the housing bubble in a Wall Street Journal op-ed: "That is exactly what is happening with the subprime carbon asset bubble: It is still growing because most market participants are mistakenly treating carbon risk as an uncertainty, and are thus failing to incorporate it in investment analyses. By overlooking a known material-risk factor, investors are exposing their portfolios to an externality that should be integrated into the capital allocation process."
Oxford study on growing fossil fuel divestment campaign says it's experiencing the fastest growth in recent times
On October 7, the University of Oxford released a new report that found that the fossil fuel divestment campaign is growing faster than any previous divestment effort. "Stigmatisation poses a far-reaching threat to fossil fuel companies - any direct impacts of divestment pale in comparison," said Ben Caldecott, a research fellow at the University of Oxford's Smith School of Enterprise and the Environment, and an author of the report. "In every case we reviewed, divestment campaigns were successful in lobbying for restrictive legislation."
Boxtel, Netherlands becomes 1st municipality in Europe to divest
On November 1, the Dutch town of Boxtel announced that it will become the first municipality in Europe to divest from fossil fuels companies. This follows its decision to ban fracking in August. Boxtel also announced that it will hold a conference in December to urge other cities to drop their holdings in fossil fuels companies.
Quakers in Britain announce intention to divest
On October 8th, Quakers in Britain announced that investing in companies which are engaged in fossil fuel extraction is "incompatible with their commitment made in 2011 to become a sustainable low-carbon community." The move means that Quakers will drop their investments in Statoil and BG Group.
Norway's $800bn Sovereign Wealth Fund moves toward coal divestment
Norway's $800bn Sovereign Wealth Fund (NBIM) is likely to divest from coal assets, with support from the Labor party. The questions now appear to be if the fund will also divest from coal mining and from utilities that use coal generated power. More information is here.
Naropa College in Colorado and Foothill-De Anza Community College in California divest
On October 31, Naropa's board of trustees voted to divest, concluding that it "would not threaten the stability of their stock portfolio, and that continuing to practice shareholder activism involving those companies would not result in significant changes in behavior."
On October 23, De Anza Community College became for the first community college in the U.S to divest. A full list of divestment commitments can be found here.
Brown University announces it won't divest from coal
It's still an open question which school will be the first Ivy to divest. On Oct. 27, Brown President Christina Paxson wrote an email to students informing them that the Brown Corporation, responsible for managing Brown's $3 billion endowment, would not divest from major coal companies. "The existence of social harm is a necessary but not sufficient rationale for Brown to divest," Paxson wrote. The response from Brown Divestment from Coal is here.
350.org and partners launch personal divestment guide
As grassroots divestment campaigns take hold of institutions across the country, many individuals are taking matters into their own hands and choosing to divest their personal finances from fossil fuels. 350.org and partners have published a website that helps to guide individuals throught the process of personally divesting their investments from fossil fuels, which will help to protect them againstrisks from the carbon bubble.
350 is building a future that's just, prosperous, equitable and safe from the effects of the climate crisis. We're an international movement of ordinary people working to end the age of fossil fuels and build a world of community-led renewable energy for all.
LATEST NEWS
Amid Spying Fight, House Passes Fourth Amendment Is Not For Sale Act
"As FANFSA and the 702 reauthorization move to the Senate, lawmakers in that chamber need to take a stand for the rights of people in the United States," said one advocate.
Apr 17, 2024
While applauding the U.S. House of Representatives' bipartisan passage of a bill to ensure that "law enforcement and intelligence agencies can't do an end-run around the Constitution by buying information from data brokers" on Wednesday, privacy advocates highlighted that Congress is trying to extend and expand a long-abused government spying program.
The House voted 219-199 for Fourth Amendment Is Not For Sale Act (FANFSA), which won support from 96 Democrats and 123 Republicans, including the lead sponsor, Rep. Warren Davidson (R-Ohio). Named for the constitutional amendment that protects against unreasonable searches and seizures, H.R. 4639 would close what campaigners call the data broker loophole.
"The privacy violations that flow from law enforcement entities circumventing the Fourth Amendment undermine civil liberties, free expression, and our ability to control what happens to our data," said Free Press Action policy counsel Jenna Ruddock. "These impacts affect everyone who uses digital platforms that extract our personal information any time we open a browser or visit social media and other websites—even when we go to events like demonstrations and other places with our phones revealing our locations."
"We're grateful that the House passed these vital and popular protections," she added. "The bill would prevent flagrant abuses of our privacy by government authorities in league with unscrupulous third-party data brokers. Making this legislation into law with Senate passage too would be a decisive and long-overdue action against government misuse of this clandestine business sector that traffics in our personal data for profit."
Wednesday's vote followed the House sending the Reforming Intelligence and Securing America Act to the Senate. H.R. 7888 would reauthorize Section 702 of the Foreign Intelligence Surveillance Act (FISA), which allows for warrantless spying on noncitizens abroad but also sweeps up Americans' data.
The House notably included an amendment forcing a wide range of individuals and businesses to cooperate with government spying operations but rejected an amendment that would have added a warrant requirement to the bill, which the Senate could vote on as soon as Thursday.
Noting those decisions on the FISA reauthorization legislation, Ruddock stressed that "today's vote is a victory but follows a recent loss and ongoing threat as that Section 702 bill moves to the Senate this week too."
"As FANFSA and the 702 reauthorization move to the Senate, lawmakers in that chamber need to take a stand for the rights of people in the United States," she argued. "That means passing FANFSA and reforming Section 702 authority—and prioritizing everyone's First and Fourth Amendment rights."
Jeramie Scott, senior counsel and director of the Electronic Privacy Information Center's Project on Surveillance Oversight, also praised the House's FANFSA passage on Wednesday.
"The passage of the Fourth Amendment Is Not For Sale underscores the extent to which reining in abusive warrantless surveillance is a bipartisan issue," Scott said. "We urge the Senate to take up this measure and close the data broker loophole."
Kia Hamadanchy, senior policy counsel at ACLU, similarly said Wednesday that "the bipartisan passage of this bill is a flashing warning sign to the government that if it wants our data, it must get a warrant."
Hamadanchy added that "we hope this vote puts a fire under the Senate to protect their constituents and rein in the government's warrantless surveillance of Americans, once and for all."
Sen. Ron Wyden (D-Ore.), a critic of the pending 702 bill and FANFSA's lead sponsor in the upper chamber, called the the House's Wednesday vote "a huge win for privacy" and said that "now it's time for the Senate to follow suit."
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Leaked Cables Show Biden Pressuring Nations to Oppose Palestine's UN Membership
"This is the evidence that President Biden's talk about a two-state solution is nothing but idle talk," said one former Lebanese diplomat.
Apr 17, 2024
As the United Nations Security Council prepares to vote Thursday on Palestine's bid to become a full U.N. member, the Biden administration—which claims to support Palestinian statehood—is lobbying UNSC nations in an effort to wrangle enough "no" votes so that the United States can avoid resorting to a veto.
Leaked cables obtained by The Intercept show U.S. pressure on Security Council members including Malta—which currently presides over the body—and Ecuador.
While claiming that President Joe Biden backs "Palestinian aspirations for statehood," one of the cables asserts that "it remains the U.S. view that the most expeditious path toward a political horizon for the Palestinian people is in the context of a normalization agreement between Israel and its neighbors."
"We therefore urge you not to support any potential Security Council resolution recommending the admission of 'Palestine' as a U.N. member state, should such a resolution be presented to the Security Council for a decision in the coming days and weeks," the document advises.
The U.S. argument essentially is that the U.N. should not create an independent Palestinian state by fiat—even though that's precisely how the world body voted in 1947 to establish the modern state of Israel.
The renewed push for Palestine's U.N. membership comes as Israel wages a genocidal war on the Gaza Strip. The Palestinian Authority, which hasn't controlled Gaza for nearly two decades, rejected the Biden administration's requests to hold off on seeking full membership.
"We wanted the U.S. to provide a substantive alternative to U.N. recognition. They didn't," one unnamed Palestinian official toldAxios on Wednesday. "We believe full membership in the U.N. for Palestine is way overdue. We have waited more than 12 years since our initial request."
As The Intercept's Ken Klippenstein and Daniel Boguslaw noted:
Since 2011, the U.N. Security Council has rejected the Palestinian Authority's request for full member status. On April 2, the Palestinian Observer Mission to the U.N. requested that the council once again take up consideration of its membership application. According to the first State Department cable, U.N. meetings since the beginning of April suggest that Algeria, China, Guyana, Mozambique, Russia, Slovenia, Sierra Leone, and Malta support granting Palestine full membership to the U.N. It also says that France, Japan, and Korea are undecided, while the United Kingdom will likely abstain from a vote.
Along with the United States, China, France, Russia, and the United Kingdom are permanent members of the UNSC, so they also have veto power.
Ahead of Thursday's planned vote, Spain has been doing its own lobbying in Europe to build greater support for Palestinian statehood. At a joint Tuesday press conference with Spanish Prime Minister Pedro Sánchez, Slovenian Prime Minister Robert Golob said the question is "when, not if, but when is the best moment to recognize Palestine."
Belgium—which is seeking economic sanctions against Israel in response to its genocidal war on Gaza—is expected to join Spain's push for Palestinian statehood after the country's European Union presidency expires in June.
Currently, 139 of the U.N.'s 193 member states recognize Palestine as an independent state.
Israeli Prime Minister Benjamin Netanyahu—who has also claimed to support a so-called "two-state solution"—has alternately boasted about thwarting Palestinian statehood.
Critics pointed to the leaked cables as more proof of U.S. duplicity and double standards on the Israel-Palestine issue.
"This is the evidence that President Biden's talk about a two-state solution is nothing but idle talk," Massoud Maalouf, a former Lebanese ambassador to Canada, Chile, and Poland, said on social media.
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Database Exposes 'Illicit Network Undermining Democracy Around the World'
Yanis Varoufakis hailed the effort as "a treasure chest of well-researched reports on how the reactionaries of the world unite."
Apr 17, 2024
"Coups. Assassinations. Riots. Detentions. Disinformation. We know the tactics that have been deployed to undermine our democracies. But who is behind them?"
Progressive International (PI) asks and answers this and other questions with an extensive new database published Wednesday that connects the dots in what the leftist group calls the "Reactionary International"—a loose global network of right-wing leaders and organizations working to subvert democratic institutions.
PI calls it an "illicit network undermining democracy around the world."
"Today is a mask-off moment for the Reactionary International and the parties, politicians, judges, journalists, foundations, think tanks, tech platforms, NGOs, activists, financiers, and entrepreneurs that comprise it," PI said.
"After a year of preparation, we finally open the doors to our new research consortium, exposing the global network of reactionary forces that corrode our democracies, destroy our planet, and drive us closer to world war," the group added.
"The twin insurrections at the U.S. Capitol in 2021 and BrasÃlia's Three Powers Plaza in 2023 left no doubt about the international coordination of reactionary forces," PI argued. "Yet far too little is known about the entities of this network, their sources of financing, and their institutional allies operating inside our political systems."
Ultimately, PI aims to "support democratic systems to become more resilient to their insidious tactics."
From leaders like Hungarian Prime Minister Viktor Orbán, Indian Prime Minister Narendra Modi, and former U.S. President Donald Trump—the presumptive 2024 Republican presidential nominee—to evangelical Christian groups influencing laws in African countries criminalizing LGBTQ+ people and tech companies empowering ubiquitous state surveillance, Reactionary International is a who's-who of the world's right-wing forces.
A cursory search of the database's contents shows users can:
- Learn about Israel's NSO, Rayzone, and Team Jorge, and how a team of Tel Aviv tech entrepreneurs fuel unrest in Latin America;
- Meet the Grey Wolves, Turkey's roving death squad with links to President Recep Tayyip ErdoÄŸan and the ethno-nationalists in his governing coalition; and
- Explore the global network of the Falun Gong, its Trump-connected media outlet The Epoch Times, and its traveling dance troupe known as Shen Yun.
Yanis Varoufakis, a PI member and secretary-general of the left-wing Democracy in Europe Movement 2025, called the database "a treasure chest of well-researched reports on how the reactionaries of the world unite."
PI invites the public to contribute to the database.
"Together, we will not only name, shame, and expose the forces of the far right—but also dismantle their network of complicity," the group said.
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