Stand.earth on latest Financial Case for Fossil Fuel Divestment Report from IEEFA
October 13, 2022
TURTLE ISLAND LANDS / UNCEDED ANCESTRAL HOMELANDS OF THOUSANDS OF INDIGENOUS TRIBES – Today, the Institute for Energy Economics and Financial Analysis (IEEFA) released its latest report: “Two economies collide: Competition, conflict, cooperation and the financial case for fossil fuel divestment” as an update to its 2018 report. The report affirms “the coal, oil and gas sectors have lost their financial rationale,” affirming the financial case for divestment is stronger than ever.
To date, over 1550 institutions representing more than $40 trillion in assets have committed to some level of divestment.
On this latest report, Amy Gray, Stand.earth Senior Climate Finance Strategist, and coordinator of the Climate Safe Pensions Network, issued the following statement:
“In the face of fear-mongering, climate chaos, and volatile geopolitics, this report affirms that the financial case for fossil fuel divestment is stronger than ever. The fact remains: the fossil fuel industry is structurally failing, not to mention hell-bent on planetary destruction. Pension funds, banks, and institutional investors with long-term investment horizons must read the writing that’s been on the wall for more than a decade: divest from fossil fuels, reinvest in climate-safe solutions, and protect returns, communities, and planet alike.”
Two economies collide: Competition, conflict, cooperation and the financial case for fossil fuel divestment
Despite recent global developments, the case for fossil fuel divestment is still strong. Sustainable economics are proving their financial reliability and long-term ability as a sound investment.View full report