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• W2348910392 abstract "I. INTRODUCTIONIn the fall of 2010, a group of students at Swarthmore College formed the group Swarthmore Mountain Justice and took the first steps towards mobilizing the fossil fuel divestment movement.1 The students had travelled and witnessed first-hand the effects of mountaintop removal coal-mining2 on the Appalachians and local communities and, as a result, launched the first campus divestment campaign in which they began petitioning Swarthmore University to divest its endowment resources from the 16 largest fossil fuel companies.3In August 2015, President Obama stated challenge poses a greater threat to our future than climate change.4 The divestment movement arises from recognition that climate change destroys global well-being and unjustly impacts already marginalized communities most severely. As Obama has explained:Climate change is already disrupting our agriculture and ecosystems, our water and food supplies, our energy, our infrastructure, human health, human safety - now. Today. And climate change is a trend that affects all trends - economic trends, security trends. Everything will be impacted. And it becomes more dramatic with each passing year.5If action is not taken, the chilling result is:Submerged countries. Abandoned cities. Fields no longer growing. Indigenous peoples who can't carry out traditions that stretch back millennia. Entire industries of people who can't practice their livelihoods. Desperate refugees seeking the sanctuary of nations not their own. Political disruptions that could trigger multiple conflicts around the globe.6Climate change is not just an environmental issue, but also a social justice concern.7 The United Nations Framework Convention on Climate Change (UNFCCC)8 has acknowledged: Impacts of climate change, such as drought, floods, extreme weather events and reduced food and water security, affect women and men differently with the poorest being the most vulnerable. 70 per cent of the world's poor are women.9 Other groups disproportionally impacted include children, older persons, indigenous peoples, minorities, migrants, rural workers, [and] persons with disabilities.10 The Office of the United Nations High Commissioner for Human Rights has emphasized that these disproportionate impacts . . . raise concerns of climate justice, fairness, equity and access to remedy.11The divestment movement, fueled by this need for urgency, got its spark when in August 2012 Rolling Stone Magazine published a landmark article12 by author Bill McKibben, founder of the organization 350.org.13 The article presented the following facts: two degrees Celsius is the maximum amount of temperature increase the planet can take before catastrophe occurs, 565 more gigatons of carbon is the most that can be released into the air before we exceed that point, and 2,795 gigatons is the amount of carbon deposits fossil fuel companies have in their reserves waiting to release.14 In November 2012, Bill McKibben and 350.org launched the Do the Math tour, traveling around the country and explaining the math behind climate change and carbon emissions.15 The tour led to the 350.org Fossil Free Divesture Movement, a network of independent campaigns petitioning institutions and investors to divest16 from fossil fuels.17 The Fossil Free campaigns are demanding that institutions (1) freeze new investments in fossil fuel companies immediately, and (2) divest from direct ownership and comingled funds that include fossil fuel equities and corporate bonds within 5 years.18 The movement saw its first major victory with Stanford University, which, in May 2014, agreed to divest its $18.7 billion endowment from coal companies.19 The movement has only been intensifying since then; in September 2014, 181 institutions and 656 individuals with $50 billion in assets had committed to divest, by September 2015, the number had grown to 436 institutions and 2,040 individuals with $2. …" @default.
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• W2348910392 date "2016-01-01" @default.
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• W2348910392 title "Combating Climate Change through a Duty to Divest" @default.
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