Why Divest From Fossil Fuels?
Collectively in the Fraser Valley we have billions of dollars in banks for our retirement, saving for a home or car etc. Banks lend that money for profit. If they lend it to Fossil Fuel companies, our money finances Climate Change. If we can slow the flow of money we can slow Climate Change.
What is the link between my bank account or my investments and climate change?
When you entrust your money to a bank or investment fund, or pension, it can be used to make loans to, or investments in, individuals or businesses. A business might use the money to build an oil pipeline. Without your money, banks cannot make these loans and investments. It is up to you to choose banks and investments that do not fund and support fossil fuels. You can encourage these institutions to divest from fossil fuels.
What will my bank or pension fund actually divest from?
This depends on your current bank or fund, but fracking, oil and gas pipelines and fossil fuel power stations are all still being supported by most banks. If you would like to discover more for yourself, we encourage you to make direct contact with your bank or pension fund and find out what your money is being used for. Once you have the facts, you will know exactly what you are divesting from – but not only that, you will be able to tell your bank you want to divest from fossil fuels investments.
Why convince banks to divest from supporting fossil fuels?
We are trying to cut funding to the fossil fuel industry because the funding of this industry enables it to continue extracting fossil fuels from beneath the ground. When fossil fuels like natural gas, oil, or coal are mined or burned, they release greenhouse gases, (carbon dioxide and methane and others), into the Earth’s atmosphere. These gases remain there for decades, reflecting heat energy back to the earth. This causes Earth’s surface and lower atmosphere to heat. This result is often called the “greenhouse effect.” The more greenhouse gases that are in the atmosphere, the hotter our planet becomes, altering our worldwide climate. Stopping the flow of money is important. That is why we must divest from fossil fuels.
The IPCC says Climate Change is caused primarily by Fossil Fuels
This heating is changing our climate. Scientists around the world have been studying global heating for many years. The Intergovernmental Panel on Climate Change (IPCC) is the United Nations body for assessing the science related to climate change. Founded in 1988, the IPCC is considered to be an authoritative voice on the subject of climate change. IPCC routinely releases reports about the impacts of global heating on our environment saying it is clear that Climate Change is caused primarily by fossil fuels. Please join us in making sure that your money is not being used to fund fossil fuels.
For more information on the potential impacts of global heating, divided into three different temperature scenarios, check out the IPCC’s Worlds Apart infographic.
Take Action now
Check your bank Check your investmentsPledge to not invest with fossil fuel banks. Tell your bank & possibly Move your money
or Take other Actions to fight climate change.
Used with permission. Adapted from: https://bank.green/faq