As climate strikes roar around the globe, the fossil fuel industry’s social license to pollute our planet is looking increasingly likely to expire. Even more than that, campaigners are starting to hit the fossil fuel industry’s sources of income.
Financial flows from banks and insurers to oil and gas companies are an important lever. If we can stop the funding, pipelines and drilling sites cannot go ahead, and fossil fuels will have to stay where they belong: in the ground.
G20 ministers are holding multiple meetings in Japan ahead of the main summit at the end of June. But they’re not showing enough leadership to stop the climate crisis. Repeatedly, we’ve seen leaders around the world stand down from their responsibility. Thankfully, local campaigns everywhere have their eye on the money.
So in this Fossil Free News, we look at the groups around the world doing brilliant organizing these past two weeks, to put an end to fossil fuel finance and advance a just transition to 100% renewable energy for all.
P.S. We’re trying something new – climate movement news via Facebook Messenger! I’ll send short, easy-to-read alerts, photos, and videos once or twice a week on the Messenger app. It’s launching this week: be one of the first to try it – sign up now.
In Case You Missed It
Disrupt fossil finance: On Friday, activists from across Europe showed up outside the European Investment Bank (EIB) in Luxembourg to highlight the bank's role in financing disruptive fossil fuel projects with public money. They sang and delivered messages from people fighting on the frontlines of EIB-funded fossil fuel projects. It's just one of many recent actions to shut down fossil fuel finance. Read more
This is not a drill: May 29 marked 13 years since the Sidoarjo gas disaster, where a drilling failure in Indonesia displaced tens of thousands of people. Many are still awaiting compensation. But the company responsible, Lapindo Brantas, just got new permits to drill again in the same area. Local campaigners are working with people targeting the project investors in Europe, to make sure they can’t go ahead: Read more
Divestment: The University of Quebec at Montreal committed to end all investments in fossil fuels. Wadham College in the UK dropped coal and tar sands investments, but are still clinging to oil and gas.
And it’s not just universities. Charlottesville city council dropped funding to arms and fossil fuels, and inner Sydney’s west council reports it’s now fully divested, after successfully moving $100 million in a 3-year process.
The Inside Story
"We were raised believing the sea would always sustain us, only to now be confronted by the fact that it could one day swallow us."
That's it for now. We'll be back in two weeks with more climate movement news from around the world.