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Pension Managers should divest from Fossil Fuels: UN Official
http://www.juancole.com/2014/01/pension-managers-official.htmlPension Managers should divest from Fossil Fuels: UN Official
By Juan Cole | Jan. 16, 2014
Christiana Figueres, executive secretary of the UN Framework Convention on Climate Change, told investors at a conference on Wednesday that they should move pension funds out of fossil fuels.
After all, she pointed out, pension funds are for retirement, and future retirees won’t get to enjoy their golden years if the average global temperature climbs above 3.6 degrees F.
There is a major divestment campaign on university campuses, spearheaded by Bill McKibben and his 360 organization, and it would be interesting to know if it influence Figueres.
Divestment is a growing phenomenon. The Norwegian pensions company, Storebrand, has excluded nearly two hundred coal, oil and gas companies from its holdings, and kicked off a further 19 oil and coal companies last summer
