For Immediate Release
350.org Responds to Peabody Climate Settlement
NEW YORK - 350.org Strategy and Communications Director Jamie Henn issued the following reaction to the news that Peabody Energy would be disclosing the financial risks climate change poses to its business model:
“This is a small settlement that will make a huge impact. Fossil fuel companies are finally being forced to account for the damage they’re inflicting on communities and the climate. It’s also a major win for the fossil fuel divestment movement: as the risks of investing in climate destruction become more clear, investors will start moving even faster to dump their stocks.
The Peabody settlement is a good sign that the Exxon investigation could also have a far reaching impact. The fossil fuel industry has long thought of itself as invincible to public critique, but no longer. As the divestment movement continues to chip away at their social license, fossil fuel companies are losing the ability to brush aside these investigations. Shell’s defeat in the Arctic and the rejection of Keystone XL are just the beginning of what could be a string of bad news for the industry.”
350.org supports the international fossil fuel divestment movement. To date, nearly 500 institutions representing $2.6 trillion in capital have made some form of divestment commitment. 350.org is challenging institutions to make additional commitments ahead of the Paris climate talks this December. For more information, visit: gofossilfree.org
350 is the red line for human beings, the most important number on the planet. The most recent science tells us that unless we can reduce the amount of carbon dioxide in the atmosphere to 350 parts per million, we will cause huge and irreversible damage to the earth. But solutions exist. All around the world, a movement is building to take on the climate crisis, to get humanity out of the danger zone and below 350. This movement is massive, it is diverse, and it is visionary. We are activists, scholars, and scientists. We are leaders in our businesses, our churches, our governments, and our schools. We are clean energy advocates, forward-thinking politicians, and fearless revolutionaries. And we are united around the world, driven to make our planet livable for all who come after us.