Fossil Fuel Divestments Now Represent $5.2 Trillion

[demon in basement]

Source: Climate Central News

Investing heavyweights are moving their assets and funds out of fossil fuels at a record pace.

A network of local governments, pension funds, faith organizations, philanthropies and wealthy individuals representing $5.2 trillion in assets have committed to — and in some cases already started — divesting from fossil fuel companies, according to a report released on Monday.

That’s a huge sum of money for a movement that started just four years ago on U.S. college campuses and its growth is likely to continue as the world strives to reach its climate goals.

“It’s pretty clear that the growth trajectory is enormous,” said Ellen Dorsey, the executive director of the Wallace Global Fund.



Read more: http://www.climatecentral.org/news/fossil-fuel-divestment-trillions-20961

[Jose Garcia]

1. So now someone else own $5.2 trillion in assets in fossil fuel companies

How exactly does that decrease the use of fossil fuels?