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For Immediate Release

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Kim Bryan, kim.bryan@350.org

Press Release

May Boeve Joins Mayors of 12 Major Cities Committed to Divest From Fossil Fuel Companies and Invest in a Green and Just Recovery from COVID-19 Crisis

WASHINGTON -

22nd September 2020:  12 cities, representing over 36 million city residents, pledged to divest from fossil fuel companies and advocate for greater sustainable investment, as part of their commitment to accelerating a green and just recovery from COVID-19.

“The declaration sends a loud clear message to the fossil fuel industry. As we watch wildfires burn in the US and devastating floods in parts of Africa,  we know that Fossil fuels are not a safe investment: the sector is too volatile to be deeply vulnerable, it is time to divest from fossil fuels and invest in the green and just recovery of the future“ May Boeve Executive Director of 350.org

Divesting from Fossil Fuels, Investing in a Sustainable Future,” brings together mayors of some of the world’s most influential cities, including Berlin, Bristol, Cape Town, Durban, London, Los Angeles, Milan, New Orleans, New York City, Oslo, Pittsburgh, and Vancouver. 

“Now is the time to divest from fossil fuel companies and undertake investment and policy change that prioritises public and planetary health, building back a more equal society and addressing this climate emergency.” Mayor of New York City, Bill de Blasio

The cities signing on to the new declaration commit to build momentum for fossil-free and sustainable investment by: 

  • Taking all possible steps to divest city assets from fossil fuel companies and increasing financial investments in climate solutions to help promote decent jobs and a just and green economy. 
  • Calling on pension funds to divest from fossil fuel companies and increasing financial investments in climate solutions to help promote decent jobs and a just and green economy.
  • Advocating for fossil-free and sustainable finance by other investors and all levels of government, including by promoting the importance of strong, long-term climate policies and demanding greater transparency.

According to Energy Policy Tracker, more than $200 billion in COVID-19 recovery funds are being pledged to fossil fuels, though risky investments in coal, oil, and gas are key drivers of the climate emergency. Continued investment in fossil fuels drives emissions that endanger the Paris Agreement goals, jeopardize efforts to limit temperature rise to 1.5°C, and threaten to lock dangerous carbon emissions into economies, especially as governments determine preferred pathways to a COVID-19 recovery. 

It is essential to ensure that today’s investments do not lock-in polluting technologies and carbon-intensive industries. Investments should instead support the solutions we need to avert climate breakdown, create good jobs, advance environmental justice, and support livable communities." May Boeve Executive Director of 350.org

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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.

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