Washington announces $6.4 Billion Divestment rejection of fossil fuels

[pgs]

Well this is big.


Washington, D.C., announces divestment of $6.4 billion pension fund from oil, gas, and coal companies

Historic commitment launches the nation’s capital to the forefront of climate action

WASHINGTON, D.C. – The District of Columbia government announced Monday that its $6.4 billion pension fund has fully divested from its direct investments in 200 of the world’s most polluting fossil fuel companies. In doing so, Washington, D.C. has taken a critical step toward addressing climate change, joining the more than 500 cities, philanthropic organizations, faith groups, universities, and other organizations that have divested funds worth a collective $3.4 trillion.

The decision by the District of Columbia Retirement Board (DCRB) to sell off its fossil fuel investments underscores D.C.’s commitment to protecting environmental quality and ensuring that generations of Washingtonians will inherit a safe and stable climate. It also marks a significant victory for DC Divest, the citizens group that has led a three-year campaign aimed at promoting divestment in the District of Columbia.

“Time is up for the powers that be to act on climate change. If we’re going to take real action on climate change, we must take a hard stance against the fossil fuel industry,” said DC Divest spokesperson Matt Grason. “By divesting from fossil fuels, the nation’s capital has taken a critical step in creating the political will for climate action. Now it’s time for Congress to take note and pass comprehensive legislation to limit the carbon pollution driving climate change.”

“I applaud the D.C Retirement Board for doing right by all Washingtonians,” said D.C. Councilmember Charles Allen. “In the past, divestment has proven to be an incredibly powerful tool for effecting positive change. By divesting from fossil fuels D.C. has helped pave the way for a brighter, better future.”

Washington D.C.’s decision to divest from fossil fuels is the latest action the nation’s capital has taken to promote sustainability and protect the health of its residents from climate change impacts. The District of Columbia has adopted the ambitious goal of reducing greenhouse gas emissions by 80 percent by 2050, and Mayor Muriel Bowser recently signed a 20-year agreement that will supply 35 percent of the District government’s electricity with wind power and save residents $45 million over the next 20 years.

“Climate change is a life or death issue here in the District of Columbia, and it disproportionately harms low income families and communities of color,” said Rev. Lennox Yearwood, President and CEO of the Hip Hop Caucus. “We can’t afford to wait any longer. The decision to divest from fossil fuels is an incredible act of leadership that came just in time.”

“The decision to divest shows that D.C. takes seriously its responsibility to protect pensioners from risky fossil fuel investments,” said Jesse White, a District of Columbia Public Schools teacher and DCRB beneficiary. “As the U.S. continues to transition to a clean energy economy, our investments must follow suit.”

On June 7, the Council of the District of Columbia will formally vote on a ceremonial resolution lauding the D.C. Retirement Board for removing all direct investments in fossil fuels. The resolution is set be introduced by Chairman Phil Mendelson and Councilmembers Charles Allen and David Grosso.

https://docs.google.com/document/d/1AAVqohC6vPx50Oe5Y6WKQKE4E7oMo7TephsFQp_2hZA/pub

I should have put Green Energy on its deathbed or something similar in there.

Welcome to Greece . Oh Washington is just a city given it's own status , hence eligible for federal government bailout .

When it's coming out of one or two companies, it's a big deal.



Venezuela is doing horribly because their biggest industry was oil.

Venezuela fed itself before they discovered oil .

I only wish they would take the pension money and directly invest in solar and wind companies. THEN you'd see the house of cards come down.

Alas... they simply blended their fossil fuel investments with other funds.

Of course .

 

[Cliffy]

I love how the rightards have a meltdown when faced with facts. The writing is on the wall for oil, get over it.

 

[MHz]

Venezuela fed itself before they discovered oil .

So what happened that finding riches caused more hunger than it relieved? Accident or intentional control method?

 

[mentalfloss]

I love how the rightards have a meltdown when faced with facts. The writing is on the wall for oil, get over it.

You would figure if this wasn't a big deal they could just ignore it.

 

[Walter]

You would figure if this wasn't a big deal they could just ignore it.

Even you, Analfloss, say that billions is no biggie yet you posted this Clingon.

 

[mentalfloss]

Even you, Analfloss, say that billions is no biggie yet you post this Clingon.

You're proving the stereotype that conbots just look at money and ignore value.

 

[pgs]

I love how the rightards have a meltdown when faced with facts. The writing is on the wall for oil, get over it.

Yup the writing is on the wall , but there are still a couple of million gas guzzling cars on B.C. roads every morning . Even in that green enclave of Nakusp .

 

[taxslave]

Don't you know all the pot farmers drive Teslas to the fields.

 

[Locutus]

DC Divest was founded in March 2013 by a group of Washington, D.C. residents following a call to action by the non-profit environmental advocacy group 350.org.

It was founded by author Bill 'just say no to keystone xl' McKibben

Sanders appointed McKibben to the committee charged with writing the Democratic Party's platform for 2016

I love how the rightards have a meltdown when faced with facts. The writing is on the wall for oil, get over it.

silly facts. :lol:

 

[captain morgan]

Venezuela is doing horribly because their biggest industry was oil.

... bbbbut green economies and utopia for all.

I love how the rightards have a meltdown when faced with facts. The writing is on the wall for oil, get over it.

Hilarious.

The tards in their ivory towers are being lied to by their own Universities and they are too stupid to figure it out.

Makes the comment about meltdowns even more laughable

 

[mentalfloss]

Venezuela is ****ed because they aren't making efforts to transition to a green economy.

It's basically what Canada would be if we didn't remove Harper.

 

[justfred99]

Burn through that and then the bank bailouts, and then back to oil, be quite a haul when it's all said and done.

Do you understand why the government has to ball out the banks? Apparently not.

 

[captain morgan]

Venezuela is ****ed because they aren't making efforts to transition to a green economy.

It's basically what Canada would be if we didn't remove Harper.

You really crack me up bud... Really

 

[mentalfloss]

That's nice.

In the meantime, be thankful Harper didn't get his wish to transform our entire economy into a 1970s Texan's wet dream.

 

[pgs]

That's nice.

In the meantime, be thankful Harper didn't get his wish to transform our entire economy into a 1970s Texan's wet dream.

Most people eventually grow up . It may even happen to you .

 

[EagleSmack]

Yup the writing is on the wall , but there are still a couple of million gas guzzling cars on B.C. roads every morning . Even in that green enclave of Nakusp .

He also is asking to get used to their hypocrisy. They will moan about fossil fuels and use them as they always have.

You really crack me up bud... Really

He ACTUALLY said that!

 

[captain morgan]

He ACTUALLY said that!

Yeah, I know... Hard to believe, but there it is

 

[pgs]

He also is asking to get used to their hypocrisy. They will moan about fossil fuels and use them as they always have.



He ACTUALLY said that!

Yup right about now the interior of B.C.is experiencing a gas shortage as a Petrocan refinery is down in Alberta .When that shortage turns into empty gas tanks all the anti pipeline talk will be killed by screaming consumers .

 

[Highball]

Hillary wants to retrain all of the Fossil Fuels based firms being put out of business. She think they could relocate and then learn how to run a order kiosk at many Fast Food employers.