So what exactly is fossil fuel divestment? It’s very simple. Rather than investing your money, you do the opposite and get rid of any investments that are linked to the fossil fuel industry.
The global #GoFossilFree movement is asking institutions to do just that and to move their money out of the oil, coal and gas industries for moral and financial reasons.
Is it going to work?
Do you remember the terrible system of racial segregation in South Africa referred to as the Apartheid? In the mid-1980s, a similar divestment campaign saw 155 campuses in the United States, 26 state governments and 90 cities join forces and take their money away from multinationals that did business in South Africa.
What happened? The divestment campaign helped break the Apartheid government and lead the country into a new era of justice and equality.
If it worked then, it will work now.
How can you contribute?
There are plenty of ways in which you can take part.
- Move to a Fossil Free bank and make your switch count.
- Move your superannuation into a carbon free superannuation fund. Super Switch can help you check your current fund’s investments and find an alternative.
- Sign the Sunshine Coast Environment Council online petition.
- Spread the message with #GoFossilFree
Who else is involved?
The fossil free divestment movement is one of the fastest movements globally. In Australia, 130 institutions have already divested. Many universities have already joined in, including La Trobe University, Swinburne University and Queensland University of Technology (QUT).
USC Eco is planning to start a #GoFossilFree campaign in 2017 and encourage the University of the Sunshine Coast to divest from fossil fuel.
On the 8th of October is National Divestment Day. Customers and community members are encouraged to join in on the movement and help hold the banks accountable to their promises regarding climate change action.
If you still have a bank or superannuation account with an institution that funds fossil fuel projects, this is your chance to put your money where your mouth is – along with thousands of Australians.
Brisbane Divestment Day
Saturday 8 October 2016, 11am
Queens Park – Corner Elizabeth and George Streets