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      divestment

      New York University in brown letters on a beige campus building.

      'A Huge Win for Climate Justice': NYU to Divest From Fossil Fuels

      Students first launched an NYU divestment campaign in 2004, but for years the board insisted that divestment was not the way forward.

      Olivia Rosane
      Sep 12, 2023

      Nearly two decades after students first raised the issue, New York University will divest from fossil fuels.

      The announcement came in a letter that chair of the NYU board of trustees William R. Berkley sent to student activist group Sunrise NYU in August, which was first reported by The Guardian Tuesday.

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      US Climate Groups Call on Multiple Industries to Fire Their Fossil Fuel Lobbyists

      Eleven groups united on Thursday, "calling on lobbyists to pick a side in the climate fight."

      Julia Conley
      Aug 17, 2023

      Weeks after a public interest watchdog unveiled the deep ties the fossil fuel industry maintains to numerous industries in the U.S.—with universities, technology firms, and insurance companies employing many of the same lobbyists as the oil and gas sector—nearly a dozen climate justice groups on Thursday issued a call for governments and institutions across the country to "fire" their fossil fuel lobbyists.

      F Minus, the research group behind a database released last month showing that more than 1,500 lobbyists have worked both for fossil fuel companies and local governments, schools, and other businesses, was joined by organizations including 350.org, Food & Water Watch, and the Rainforest Action Network (RAN) on Thursday in issuing the demand.

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      Tufts students carry signs demmanding fossil fuel divestment.

      Why Fossil Fuel Divestment Works

      Divestment is the start of a process of reducing the tremendous influence of the fossil fuel industry on our political system and thereby making it possible to win government action on climate change.

      Carlos Davidson
      Jul 09, 2023

      There is much debate about what fossil fuel divestment accomplishes. Some critics say it sounds good but accomplishes very little. They look at the economics and correctly conclude that divestment does not financially hurt fossil companies. However, these critics miss the political impact of divestment.

      The goals of fossil fuel divestment are twofold. First, is to raise public awareness of climate change and the responsibility of fossil companies. Second, is to stigmatize or delegitimize the fossil fuel industry by calling them out as bad actors, weakening them politically, and thereby helping win government action on climate change. The University of Oxford Stranded Assets Program studied a number of divestment movements and concluded that almost all had been successful in ultimately winning restrictive legislation against their targeted industries.

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