Key Characteristics of the Higher Education Fossil Fuel Divestment Movement
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Climate Justice
Ed Maurer & Chad Raphael CLIMATE JUSTICE 1 Fostering community-driven research for social and environmental justice www.scu.edu/ej community-driven research for ● Environmental Justice ● Climate Justice ● Example Research Project - Nicaragua ● Discuss Just Transition Principles and Strategies ENVIRONMENTAL JUSTICE (EJ) Civil Rights Farmworkers Indigenous Anti-Toxics Rights of all people to healthy and livable communities, now and in the future community- driven community- community- community- researchUrban for Public Occ. Safety & Anti- driven driven driven Planning Health Health Colonialism research for research for research for community-driven research for community- community- driven driven research for research for community- driven research for ENVIRONMENTAL JUSTICE (EJ) The environment is everywhere we live, work, play, and pray community-driven research for ENVIRONMENTAL JUSTICE (EJ) Fair distribution of environmental burdens and benefits ENVIRONMENTAL JUSTICE (EJ) Full recognition of individual dignity and group rights, including equitable protection against environmental harms through law, regulation, and enforcement ENVIRONMENTAL JUSTICE (EJ) Meaningful participation in environmental decision making by all who are affected, including historically excluded groups, and consideration of future generations CLIMATE JUSTICE Paris Climate Accord (2015) Reparations from largest GHG emitters to most vulnerable communities for climate adaptation and mitigation CLIMATE JUSTICE Participation and self-determination by vulnerable and excluded -
Divestment May Burst the Carbon Bubble If Investors' Beliefs Tip To
Divestment may burst the carbon bubble if investors’ beliefs tip to anticipating strong future climate policy Birte Ewers,1;2;∗ Jonathan F. Donges,1;3;∗;# Jobst Heitzig1, Sonja Peterson4 1Potsdam Institute for Climate Impact Research, Member of the Leibniz Association, P.O. Box 60 12 03, 14412 Potsdam, Germany 2Department of Economics, University of Kiel, Olshausenstraße 40, 24098 Kiel, Germany 3Stockholm Resilience Centre, Stockholm University, Kraftriket¨ 2B, 114 19 Stockholm, Sweden 4Kiel Institute for the World Economy, Kiellinie 66, 24105 Kiel, Germany ∗The first two authors share the lead authorship. #To whom correspondence should be addressed; E-mail: [email protected] February 21, 2019 To achieve the ambitious aims of the Paris climate agreement, the majority of fossil-fuel reserves needs to remain underground. As current national govern- ment commitments to mitigate greenhouse gas emissions are insufficient by far, actors such as institutional and private investors and the social movement on divestment from fossil fuels could play an important role in putting pressure on national governments on the road to decarbonization. Using a stochastic arXiv:1902.07481v1 [q-fin.GN] 20 Feb 2019 agent-based model of co-evolving financial market and investors’ beliefs about future climate policy on an adaptive social network, here we find that the dy- namics of divestment from fossil fuels shows potential for social tipping away from a fossil-fuel based economy. Our results further suggest that socially responsible investors have leverage: a small share of 10–20 % of such moral investors is sufficient to initiate the burst of the carbon bubble, consistent with 1 the Pareto Principle. -
Phase-Out 2020: Monitoring Europe's Fossil Fuel Subsidies
Phase-out 2020 Monitoring Europe’s fossil fuel subsidies Ipek Gençsü, Maeve McLynn, Matthias Runkel, Markus Trilling, Laurie van der Burg, Leah Worrall, Shelagh Whitley, and Florian Zerzawy September 2017 Report partners ODI is the UK’s leading independent think tank on international development and humanitarian issues. Climate Action Network (CAN) Europe is Europe’s largest coalition working on climate and energy issues. Readers are encouraged to reproduce material for their own publications, as long as they are not being sold commercially. As copyright holders, ODI and Overseas Development Institute CAN Europe request due acknowledgement and a copy of the publication. For 203 Blackfriars Road CAN Europe online use, we ask readers to link to the original resource on the ODI website. London SE1 8NJ Rue d’Edimbourg 26 The views presented in this paper are those of the author(s) and do not Tel +44 (0)20 7922 0300 1050 Brussels, Belgium necessarily represent the views of ODI or our partners. Fax +44 (0)20 7922 0399 Tel: +32 (0) 28944670 www.odi.org www.caneurope.org © Overseas Development Institute and CAN Europe 2017. This work is licensed [email protected] [email protected] under a Creative Commons Attribution-NonCommercial Licence (CC BY-NC 4.0). Cover photo: Oil refinery in Nordrhein-Westfalen, Germany – Ralf Vetterle (CC0 creative commons license). 2 Report Acknowledgements The authors are grateful for support and advice on the report from: Dave Jones of Sandbag UK, Colin Roche of Friends of the Earth Europe, Andrew Scott and Sejal Patel of the Overseas Development Institute, Helena Wright of E3G, and Andrew Murphy of Transport & Environment, and Alex Doukas of Oil Change International. -
A New Era for Wind Power in the United States
Chapter 3 Wind Vision: A New Era for Wind Power in the United States 1 Photo from iStock 7943575 1 This page is intentionally left blank 3 Impacts of the Wind Vision Summary Chapter 3 of the Wind Vision identifies and quantifies an array of impacts associated with continued deployment of wind energy. This 3 | Summary Chapter chapter provides a detailed accounting of the methods applied and results from this work. Costs, benefits, and other impacts are assessed for a future scenario that is consistent with economic modeling outcomes detailed in Chapter 1 of the Wind Vision, as well as exist- ing industry construction and manufacturing capacity, and past research. Impacts reported here are intended to facilitate informed discus- sions of the broad-based value of wind energy as part of the nation’s electricity future. The primary tool used to evaluate impacts is the National Renewable Energy Laboratory’s (NREL’s) Regional Energy Deployment System (ReEDS) model. ReEDS is a capacity expan- sion model that simulates the construction and operation of generation and transmission capacity to meet electricity demand. In addition to the ReEDS model, other methods are applied to analyze and quantify additional impacts. Modeling analysis is focused on the Wind Vision Study Scenario (referred to as the Study Scenario) and the Baseline Scenario. The Study Scenario is defined as wind penetration, as a share of annual end-use electricity demand, of 10% by 2020, 20% by 2030, and 35% by 2050. In contrast, the Baseline Scenario holds the installed capacity of wind constant at levels observed through year-end 2013. -
In Support of Fossil Fuel Divestment in the Uw System & Foundations
65-R-1 UNIVERSITY OF WISCONSIN-EAU CLAIRE STUDENT SENATE RESOLUTION IN SUPPORT OF FOSSIL FUEL DIVESTMENT IN THE UW SYSTEM & FOUNDATIONS 1 WHEREAS the University of Wisconsin-Eau Claire (UW-Eau Claire) Student Senate is the official 2 voice of the student body; and 3 WHEREAS the University of Wisconsin System (UW System) must address the current fiscal 4 implications of the enrollment cliff, the COVID-19 pandemic, budget cuts, and the tuition freeze; and 5 WHEREAS prospective and current students in the UW System are increasingly concerned about 6 climate change and environmental injustice perpetrated by the fossil fuel industry; and 7 WHEREAS a UW System both receptive to and supportive of student opinions and open to 8 investing in climate solutions will attract new students from across the state, country, and world who seek 9 a university which represents their interests; and 10 WHEREAS according to NASA, the burning of fossil fuels (oil, coal, and natural gas) has increased 11 the concentration of atmospheric carbon dioxide (CO₂) and methane (CH₄); and 12 WHEREAS the Intergovernmental Panel on Climate Change [1] concluded there is a 95% 13 probability that anthropogenic (human-produced) gases, including CO₂, have caused the increase in global 14 temperature; and 15 WHEREAS over the past 20 years, nearly three-fourths of anthropogenic emissions came from the 16 burning of fossil fuels [2]; and 17 WHEREAS the burning of fossil fuels causes increased air pollution which according to Harvard’s 18 School of Public Health, one in five deaths -
$1.5 Billion Lost on Tar Sands and Fracking Holdings
$1.5 billion lost on tar sands and fracking holdings New York State Common Retirement Fund has lost more than $1.5 billion on just 16 fossil fuel companies in the last year Highlights: ● $1.5 billion loss on 16 companies since March 31, 2019 ● 60% drop in value ● Value of tar sands holdings has dropped by 57% from $2 billion to $850 million ● Value of major fracking holdings down 84% ● Exxon investment has dropped below base cost - a loss of over $500 million in 1 year ● S&P 500 Energy companies have consistently underperformed the rest of the market over 1, 3 and 5 year time horizons ● Market value were down double digits even before the oil crash 60% drop in value of holdings in just a year The New York State Common Retirement Fund (Fund) has lost more than $1.5 billion on just 16 oil and gas stocks over the last year as the energy sector faces increasing volatility and declining prospects, according to a new analysis by 350.org1. New York State Comptroller Thomas DiNapoli, the sole custodian of the Fund, has so far refused to divest from fossil fuels. The Fund serves as the retirement fund for more than 1 million New Yorkers and its oil and gas holdings have left it overexposed to the precipitous drop in energy stocks over both the past month and year. At the end of March 2019, the Fund had more than $13 billion invested in fossil fuel companies. While government stimulus may trigger a slight rebound in the coming days, most analysts agree the overall outlook for the sector is dim. -
350 Madison Statement on Climate Justice
350 Madison Statement on Climate Justice Adopted by Board of Directors on September 9, 2020 350 Madison believes that climate justice is not possible without racial justice, and we are inspired by the work of activists striving for racial justice. We stand in solidarity with the #Black Lives Matter movement, those working to achieve justice for people of color, and those demanding action to confront the forces that have allowed systemic racism to persist. While all members of our society are endangered and harmed by climate change and its impacts, such as polluted water and air, wildfires, floods, new diseases, and extreme weather, people of color suffer disproportionately, largely due to systemic racism. In a recent interview, Bill McKibben, 350.Org’s founder, explained the connection between climate change and climate justice using the three words “I can’t breathe”. ● “I can’t breathe” - the last words of George Floyd and Eric Garner, show the brutality of the police and the racial oppression and injustice in our society. Communities can’t breathe because they are stifled by police brutality. ● “I can’t breathe” - Coal plants and other fossil fuel facilities are disproportionately located in minority communities, making the air toxic to breathe. Air pollution from these plants has led to asthma rates three times higher among Black people than among the general population. ● “I can’t breathe”- It's gotten so hot in some places, that communities literally can’t breathe .The temperature hit 114 degrees in New Delhi recently. Imagine being confined to a house due to COVID-19 with no air conditioning in that heat! It is unjust for so many people of color around the world to suffer the disproportionate impacts of climate change, and to breathe, drink and eat the toxic byproducts of the fossil fuel industry, while facing discrimination in housing, employment, schools and law enforcement. -
Hydroelectric Power -- What Is It? It=S a Form of Energy … a Renewable Resource
INTRODUCTION Hydroelectric Power -- what is it? It=s a form of energy … a renewable resource. Hydropower provides about 96 percent of the renewable energy in the United States. Other renewable resources include geothermal, wave power, tidal power, wind power, and solar power. Hydroelectric powerplants do not use up resources to create electricity nor do they pollute the air, land, or water, as other powerplants may. Hydroelectric power has played an important part in the development of this Nation's electric power industry. Both small and large hydroelectric power developments were instrumental in the early expansion of the electric power industry. Hydroelectric power comes from flowing water … winter and spring runoff from mountain streams and clear lakes. Water, when it is falling by the force of gravity, can be used to turn turbines and generators that produce electricity. Hydroelectric power is important to our Nation. Growing populations and modern technologies require vast amounts of electricity for creating, building, and expanding. In the 1920's, hydroelectric plants supplied as much as 40 percent of the electric energy produced. Although the amount of energy produced by this means has steadily increased, the amount produced by other types of powerplants has increased at a faster rate and hydroelectric power presently supplies about 10 percent of the electrical generating capacity of the United States. Hydropower is an essential contributor in the national power grid because of its ability to respond quickly to rapidly varying loads or system disturbances, which base load plants with steam systems powered by combustion or nuclear processes cannot accommodate. Reclamation=s 58 powerplants throughout the Western United States produce an average of 42 billion kWh (kilowatt-hours) per year, enough to meet the residential needs of more than 14 million people. -
Are Biofuels an Effective and Viable Energy Strategy for Industrialized Societies? a Reasoned Overview of Potentials and Limits
Sustainability 2015, 7, 8491-8521; doi:10.3390/su7078491 OPEN ACCESS sustainability ISSN 2071-1050 www.mdpi.com/journal/sustainability Article Are Biofuels an Effective and Viable Energy Strategy for Industrialized Societies? A Reasoned Overview of Potentials and Limits Tiziano Gomiero Independent Consultant and Researcher on Multi-Criteria Farming and Food System Analysis, Agro-Energies, Environmental Issues, Treviso 30121, Italy; E-Mail: [email protected]; Tel.: +39-32-0464-3496 Academic Editor: Andrew Kusiak Received: 7 April 2015 / Accepted: 26 June 2015 / Published: 30 June 2015 Abstract: In this paper, I analyze the constraints that limit biomass from becoming an alternative, sustainable and efficient energy source, at least in relation to the current metabolism of developed countries. In order to be termed sustainable, the use of an energy source should be technically feasible, economically affordable and environmentally and socially viable, considering society as a whole. Above all, it should meet society’s “metabolic needs,” a fundamental issue that is overlooked in the mainstream biofuels narrative. The EROI (Energy Return on Investment) of biofuels reaches a few units, while the EROI of fossil fuels is 20–30 or higher and has a power density (W/m2) thousands of times higher than the best biofuels, such as sugarcane in Brazil. When metabolic approaches are used it becomes clear that biomass cannot represent an energy carrier able to meet the metabolism of industrialized societies. For our industrial society to rely on “sustainable biofuels” for an important fraction of its energy, most of the agricultural and non-agricultural land would need to be used for crops, and at the same time a radical cut to our pattern of energy consumption would need to be implemented, whilst also achieving a significant population reduction. -
The Pathway to a Green New Deal: Synthesizing Transdisciplinary Literatures and Activist Frameworks to Achieve a Just Energy Transition
The Pathway to a Green New Deal: Synthesizing Transdisciplinary Literatures and Activist Frameworks to Achieve a Just Energy Transition Shalanda H. Baker and Andrew Kinde The “Green New Deal” resolution introduced into Congress by Representative Alexandria Ocasio Cortez and Senator Ed Markey in February 2019 articulated a vision of a “just” transition away from fossil fuels. That vision involves reckoning with the injustices of the current, fossil-fuel based energy system while also creating a clean energy system that ensures that all people, especially the most vulnerable, have access to jobs, healthcare, and other life-sustaining supports. As debates over the resolution ensued, the question of how lawmakers might move from vision to implementation emerged. Energy justice is a discursive phenomenon that spans the social science and legal literatures, as well as a set of emerging activist frameworks and practices that comprise a larger movement for a just energy transition. These three discourses—social science, law, and practice—remain largely siloed and insular, without substantial cross-pollination or cross-fertilization. This disconnect threatens to scuttle the overall effort for an energy transition deeply rooted in notions of equity, fairness, and racial justice. This Article makes a novel intervention in the energy transition discourse. This Article attempts to harmonize the three discourses of energy justice to provide a coherent framework for social scientists, legal scholars, and practitioners engaged in the praxis of energy justice. We introduce a framework, rooted in the theoretical principles of the interdisciplinary field of energy justice and within a synthesized framework of praxis, to assist lawmakers with the implementation of Last updated December 12, 2020 Professor of Law, Public Policy and Urban Affairs, Northeastern University. -
Ad Hoc Committee on Fossil Fuel Divestment Report
TO: Tilak Lal, Chair, Joint Committee on Investments; Vice Chair, Rutgers University Board of Trustees J. Michael Gower, Executive Vice President and Chief Financial Officer, Rutgers University FROM: Ad Hoc Committee on Fossil Fuel Divestment SUBJECT: Divestment of the Rutgers University Endowment from Fossil Fuel Investments DATE: February 22, 2021 Introduction In spring 2020, the Joint Committee on Investments, which sets overall policy for the investment of the Rutgers University endowment, received a request from a student group called the Endowment Justice Collective to divest from fossil fuels. The chair of the Joint Committee on Investments and the university’s chief financial officer made a preliminary determination that the students’ request appeared to meet the standards outlined in the Advisory Statement on Divestment within the university’s Investment Policy. As prescribed by this policy, an ad hoc committee composed of faculty, students, and staff was charged to consider the divestment request based on university policy and to make recommendations based on its review.1 Fossil Fuels in the Rutgers University Endowment The Ad Hoc Committee defined fossil fuel investments as investments in any company or fund whose primary business is the exploration or extraction of fossil fuels, including coal, oil, and natural gas, or whose primary business supports this sector with infrastructure and other services. This definition is consistent with the nature of the divestment request received in spring 2020. Currently, approximately 5% of the university’s $1.5 billion endowment consists of fossil fuel investments. Sixty percent of these investments are in private funds, with the remainder in public equity or fixed income funds. -
Update on Recent Progress in Reform of Inefficient Fossil-Fuel Subsidies That Encourage Wasteful Consumption
UPDATE ON RECENT PROGRESS IN REFORM OF INEFFICIENT FOSSIL-FUEL SUBSIDIES THAT ENCOURAGE WASTEFUL CONSUMPTION Contribution by the International Energy Agency (IEA) and the Organisation for Economic Co-operation and Development (OECD) to the G20 Energy Transitions Working Group in consultation with: International Energy Forum (IEF), Organization of Petroleum Exporting Countries (OPEC) and the World Bank 2nd Energy Transitions Working Group Meeting Toyama, 18-19 April 2019 Update on Recent Progress in Reform of Inefficient Fossil-Fuel Subsidies that Encourage Wasteful Consumption This document, as well as any data and any map included herein, are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. This update does not necessarily express the views of the G20 countries or of the IEA, IEF, OECD, OPEC and the World Bank or their member countries. The G20 countries, IEA, IEF, OECD, OPEC and the World Bank assume no liability or responsibility whatsoever for the use of data or analyses contained in this document, and nothing herein shall be construed as interpreting or modifying any legal obligations under any intergovernmental agreement, treaty, law or other text, or as expressing any legal opinion or as having probative legal value in any proceeding. Please cite this publication as: OECD/IEA (2019), "Update on recent progress in reform of inefficient fossil-fuel subsidies that encourage wasteful consumption", https://oecd.org/fossil-fuels/publication/OECD-IEA-G20-Fossil-Fuel-Subsidies-Reform-Update-2019.pdf │ 3 Summary This report discusses recent trends and developments in the reform of inefficient fossil- fuel subsidies that encourage wasteful consumption, within the G20 and beyond.