AAN Editors

22 September, 2015

Fossil fuels on the backfoot as divestment pledges hit $2.6 trillion

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With renewable energies booming globally, and the fossil fuel industry in terminal decline, the movement to shift investments out of dirty energy towards clean renewables has exploded, topping $2.6 trillion dollars. New analysis shows that to date over 400 institutions and 2000 individuals have pledged to ditch their holdings in fossil fuels and the movement received its latest ringing endorsement, today, as actor and environmentalist Leonardo DiCaprio announced a pledge to rid himself and his foundation of dirty investments. As more and more institutions look to reduce their carbon risk and harness the benefits of renewables, the latest figures represent a fifty-fold increase in assets divested in the last 12 months. With the UN climate talks in Paris looming, this growing movement adds further pressure to governments – continuing to pump billion of dollars into the dirty energy industry – to follow these institutions’ lead and make meaningful commitments to transition to an economy powered by 100 per cent renewable energy.

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