Blog Archive: banks Archives - Bright Now

25

Nov

2014

New Divestment Campaign Hits Big Five Banks

Charlotte Webster writes on Move Your Money’s ‘Divest!’ campaign, which calls for banks to stop funding fossil fuels and climate change.

Fossil fuel investment has never been environmentally acceptable. It is now no longer socially acceptable. It is fast becoming economically unacceptable too.

The divestment movement is spreading across the globe with investment groups like the Rockefeller Brothers recently joining religious groups, foundations, universities, councils and cities all committing to move billions of pounds out of fossil fuels. This month the University of Glasgow pledged to divest £18 million, joining the British Medical Association, Oxford City Council and the UK’s Quakers in moving away from fossil fuels.

In October this year, Move Your Money launched a new campaign calling for banks to stop funding fossil fuels and climate change. ‘Divest!’ comes amid growing public concern about climate change and fossil fuel investments.

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