Fossil Fuel Divestment

Get your community to divest! This is not something that will be achieved in one day, but you can launch your campaign (or join an existing one) with a day of action to rally support for divestment at your bank, your school, your faith community, your town or local hospital…

As an individual, you may have money that is directly supporting the fossil fuel industry through a bank, credit card, insurance company or pension fund. You can learn more to make sure you are not unknowingly involved in fossil fuels in the Financial Institutions tab below.

Even if you individually do not have investments in the fossil fuel industry, your town, school, faith community, hospital, or local businesses may. If you have connections to any of these institutions, you can urge them to divest from fossil fuels. Use the tools below to learn more about what you can do and how to talk to these institutions about divestment.

These are the top fossil fuel companies.

And better yet: Join the global movement for “Fossil and Fissile” divestment, and push for divestment from both fossil fuels AND nuclear weapons!

Divestment Actions:

Rather than focus on a single company, you can focus your activity on an organization or institution that you are connected to in your community: your bank, your school, your faith community, your town, local hospital, a business or any other kind of organization that has money and/or property.

Getting your target institution to divest is not something that will be achieved in one day, but you can launch your campaign (or join an existing one) with a day of action to rally support for divestment and/or other steps they might take to dissociate from the nuclear weapons and/or fossil fuel industries.

Check out these simple actions you can take to get you started!

Handing a letter to your Institution

Hand a letter to an institution you are involved with calling on them to publicly divest from fossil fuels. Take pictures. Send a press release to your local newspaper. Find a local dignitary or well-known personality to hand in the letter. Warn the target institution (or not) that you are coming and arrange for them to accept the letter. Include in the letter a request for a meeting to discuss divestment. Bring a crowd!

Take a picture with your letters and share it with us on social media using the hashtag #PressuretheProfiteers

Set up a meeting with your institution

Another option is to send a letter ahead of time or otherwise ask for meeting to discuss divestment take place during the Weeks of Action. Prepare some materials to distribute to the press as well as to the institution explaining the reasons for divestment. Take pictures, send a press release, bring a crowd to support outside the meeting as it takes place!

Rally for divestment

Especially if you have already approached an institution about divestment, or if there is an existing campaign you can work with, you might consider stepping up your divestment actions with a rally or a sit in.

Again, remember to take pictures, let the media know, and use the hashtag #PressuretheProfiteers!

Change your bank

If your bank refuses to divest from the burning of fossil fuels, you can make the choice to move your money!

Make sure you tell your bank why you are leaving them! Read below for resources on how to find and reinvest in greener financial institutions.

Helpful workbook from THIS! is What We Did

https://fossilfreefunds.org

https://bank.green/sustainable-eco-banks

https://thirdact.org/resources/how-to-switch-to-better-banks-credit-cards-faqs-2

Financial Institutions are heavily invested in the Nuclear Weapons Industry, and the Fossil Fuel Industry.

Some of the worst offenders in both industries are:

  • BlackRock
  • Vanguard
  • JP Morgan Chase
  • Morgan Stanley
  • Bank of America
  • WellsFargo
  • CitiGroup

Banking on Climate Chaos Report: https://www.bankingonclimatechaos.org/wp-content/uploads/2024/07/BOCC_2024_vF3.pdf

What we are asking the financial institutions to do:

Demands from Banking on Climate Chaos

  1. Prohibit all finance for fossil fuel expansion immediately. Banks must end lending and underwriting for any company expanding fossil fuels. This exclusion must include project finance and general corporate finance, as well as capital market transactions for any company with expansion plans, regardless of the scope of the expansion project. This is the most urgent step banks must take to enact their climate pledges. 
  2. Demand robust, 1.5ºC-aligned transition plans for all existing fossil fuel clients. Banks must require all of their clients with any fossil fuel exposure to publish robust plans to zero out fossil fuel activity on a 1.5°C-aligned timeline. Banks should end financing for clients who fail to align their activities with a credible 1.5°C pathway. Any expansion is incompatible with 1.5ºC

What you can do:

1. Contact your Bank:

If you are banking with an institution that deals in fossil fuels, you have consumer leverage to have discussions with them about how their policies, or lack thereof, are affecting the planet, and to demand the change you want, or to remove your money.

Write to your bank

You can write to your bank via physical letter or email. Make your letters personal, share your concerns about climate change, and – if you are a customer –  highlight the years of your loyalty and business but that you will be forced to move your business elsewhere if the bank doesn’t move away from fossil fuels.

Go here to see sample letters: https://thirdact.org/act/write-a-letter-to-your-bank

Other sample letters to bank CEOs can be found here, from Customers for Climate Justice

And ask your friends to send letters too! The more the bank gets, the more pressure they will feel to open a dialogue and make industry changes.

Call your bank

You can also call your bank office to ask about their sustainable investment policies and how they justify continued financing of the burning of fossil fuels.

You can call a local branch or the headquarters and leave a message like below

“Hi, my name is [YOUR NAME], and I have been a customer with [BANK NAME] for [#] years and I’m calling because I am greatly concerned about the fact that [BANK NAME] is still permitted to finance fossil fuels and deforestation under its Net Zero targets. A key finding in the International Energy Agency’s Net Zero by 2050 report was that “there can be no new investment in fossil fuels” if we wish to keep global warming to 1.5 degrees. So I am asking that [BANK NAME] publicly commit to phase out fossil fuels and deforestation to protect your customers’ livelihoods and futures. Can you please pass the message along to [CEO NAME]?”

If you are able to reach a representative and have a conversation, here are some tips on what you might say:

  • Start by letting them know who you are, so that they know they are accountable to you: Do you hold a bank account with them? Are you a member of their pension or investment plan? Do you own shares in their company?
  • Then, let them know you are aware of their investments in fossil fuel companies, and ask them uncomfortable questions about it. 

For example:

  • “I just learned that NAMEOFYOURBANK is investing in fossil fuel producing companies. This is unacceptable to me. Scientists have made it clear that if we don’t stop expanding the fossil fuel industry right now, we will not be able to keep temperatures to the levels that the world’s nations have agreed on. The Paris Climate Agreement states that fossil fuel emissions need to start decreasing by next year
  • Could you tell me more about how NAMEOFYOURBANK, as a responsible actor, justifies this investment?”

Chances are that they will try to wave you off by talking about their general policies on being responsible with their investments and how they have to make the money long-term, but always bring it back to the burning of fossil fuels. Here are two things you can say:

  • “I understand, but what I would like to know is if you have a policy on environmentally sustainable investing? Surely that cannot allow continued financing of fossil fuel corporations and new infrastructure. Surely this is a major financial and reputational risk?”

Finally close it off by telling them what you expect: change and a written response.

  • “ I would really like to hear back from you about the policies you have, or when you expect to adopt them. I am very disappointed that NAMEOFYOURBANK has these investments, and as a client, I would like to make sure none of my savings or investments are connected to the fossil fuel industry.”

And remember, being  confident in what you have to say, but always remaining friendly and calm will take your message a long way!

Meet with the general manager

Here are the steps for meeting with your Bank’s Branch Manager:

From Third Act’s Bank Pledge Toolkit

  1. Call your local bank branch and ask for a meeting (bank locator tool is in the Organizer Toolbox and on this page).
  2. Write, print, and sign your personal letter and the Customers for Climate Justice CEO letters. The letters can serve as your talking points.
  3. Practice your pitch, your personal story, your ask, and how you will engage the Branch Manager. Practice some rebuttals if the Bank Manager or staff put forward the Bank’s “greenwashing” arguments. Talking points and rebuttals are in the Organizer Toolbox.
  4. Conduct your meeting, share a personal story and express curiosity about the Bank Manager’s perspectives. Ask the Bank Manager for their help in conveying your concerns as a customer and make your ask of the Bank manager to deliver the letters to their supervisor. Then confirm the Bank manager’s next steps. If they are completely uninterested, unmovable, or hostile, then thank them for their time and end the conversation. You can share that if the Bank does not make major commitments to phase out their financing of fossil fuels by the end of this year, you intend to take your business elsewhere.
  5. Get the Bank Manager’s business card so you can email your letters. Send a follow-up email or make a phone call to ask if the Bank Manager has taken the next steps.
  6. Take a photo of yourself delivering the letters, perhaps outside the Bank with the Bank’s logo visible in the photo as you hold the letter. Or take a photo of your letter.
  7. Visit another bank (if you have credit cards or accounts from other banks) or visit another local branch and do it again.

Getting through to your bank about these issues will take persistence and patience. If you try writing letters and having phone conversations and are not having luck getting through to them, you may try recruiting colleagues to hold an action at a bank branch.

2. Organize an action at a bank branch

Steps for organizing an effective rally, protest, or event at a local bank branch:

  • Try to make an appointment ahead of time with the Branch Manager
  • Contact local media ahead of time, let them know about your upcoming demonstration.
  • Make signs
  • Write, print, and sign your letters and requests to deliver to the bank Branch Manager
  • Know the risks: you are on private property once you cross the threshold. Be safe.
  • Be courteous, breathe, give reassurances and explanations to staff about why you are there and what you are doing. Explain the group’s activities and why you are disrupting “business as usual.”
  • You may want to have some materials to hand out to passersby and let them know what is going on.
  • Take lots of pictures
  • Be creative and have fun!
  • Share your experience and photos/video on social media. #BankingOnOurFuture #DefundClimateChaos #StopDirtyBanks Tag @ThirdActOrg
  • Visit another bank (if you have credit cards or accounts from other banks) or visit another local branch and do it again.

3. Move your money

The final step, if your bank refuses to divest from the burning of fossil fuels, is to move your money to better banks.

Make sure you tell your bank why you are leaving them! Read below for resources on how to reinvest in greener financial institutions.

Helpful workbook from THIS! is What We Did

https://fossilfreefunds.org

https://bank.green/sustainable-eco-banks

https://thirdact.org/resources/how-to-switch-to-better-banks-credit-cards-faqs-2

Getting your college or university to divest

Many colleges and universities have investments that support the fossil fuel companies. Universities are also big consumers of energy and have a responsibility to decrease their fossil fuel usage and emissions.

Divesting from fossil fuels can affect those companies directly, and it can also be a strong encouragement to other institutions to do the same.  The bigger the institution, and the more money they have, the more powerful the impact can be on the fossil fuel companies.

Fossil Fuel Divestment campaigns have had a lot of success already among colleges and universities. Over 250 education institutions have divested from fossil fuels. Many more have partially divested, excluding sectors like coal from their portfolios. There is still work to be done to push those institutions towards complete divestment. And to push those schools that have divested towards goals of net zero carbon emissions.

Of the hundreds of schools that have declared their intent to work towards carbon neutrality, only 12 US universities have reached that goal according to Second Nature.

Step 1:  Doing Your Homework

What is your college or universities relationship to fossil fuel divestment? Maybe they have a full or partial commitment to divestment, or maybe they have publicly stated reasons for not divesting. What kinds of climate, sustainability, and emissions goals does your college or university have? These will be important to know

Who is empowered to get your college or university to divest and what information will they need to make this decision? A college President may take the lead on this in some cases. In others, it may be the trustees, regents or another type of governing board who need to be persuaded. Who are your allies in this effort? It may be that you already have strong support for divestment among the decision-makers or that you at least have one or two key people on your side. You will need to find out.

What investments does the college or university have? This may be difficult to find out, but Annual Reports and other public sources will likely list the size of an endowment or other assets held by the institution, and major institutional/corporate donors may also be listed. What policies are already in place to manage investments? Is there an ethical investment or ESG (Environment, social and governance criteria) policy? Have there been any successful or unsuccessful divestment campaigns in the past and can you learn anything from those?

Who is most likely to be opposed to this? What arguments or reasons will they likely put forward to stop it? You need to know who and what you are up against as well as who and what you have on your side before you launch your campaign.

Princeton’s peer analysis of universities with the largest endowment’s relationship to fossil fuel divestment and the reasoning each university brings to the conversation may be helpful to understand some of the arguments for or against: https://fossilfueldissociation.princeton.edu/background/peer-analysis

Step 2: Building Your Campaign

Once you have identified who are your likely allies, as well as your likely opponents, you need to mobilize your allies and build a campaign. This most likely involves your friends and fellow students, but if you can recruit faculty, staff, or alumni of the college or university, that can be a big boost to your campaign.

Spread the word via word of mouth, text, email, posters on bulletin boards. Set up a meeting to discuss the goals and strategies for the campaign. Build your strength as a movement before confronting the Administration.

Step 3: Engaging Your College/University

In many cases, divestment will require a significant movement among both students and faculty to make this an issue on campus.  But sometimes all it takes is talking to the right person with the right information. When this does not at first succeed, don’t give up! Above all, it takes persistence to get an institution to divest. It might take months or even years to succeed!

Hold public meetings, pass out leaflets, hold marches and demonstrations. Depending on the response, it may take more drastic action to get a result. Occupying an Administration building, setting up camp and other forms of direct action need to be thought through very carefully. Students can risk their continued studies, their career choices and even potential jail time, so don’t assume this is for everyone. But commitment and persistence will almost always result in success in the long run. This is about the future of the planet!

Step 4: Taking it to the Next Level

Ideally, a college or university:

  • Has no investments in any of the companies that produce fossil fuels or are involved in fossil fuel infrastructure
  • Does not purchase products or services from any of these companies.
  • Reaches carbon neutrality with a transition to renewable energy sources.

Many universities are taking steps to lower their emissions. In order to truly reach net zero carbon emissions, universities will need to transition entirely to renewable energy. The University of Massachusetts, the first major public university to divest entirely from fossil fuels, is responsible for 20% of the state of Massachusetts’ public facility greenhouse gas emissions, the single largest contributor. They have announced plans for the flagship campus to become entirely powered by renewable energy by 2032. They need to be pushed to meet that goal, as soon as possible.

How your faith community can divest

Many faith communities have investments, and some of these may be financially supporting the fossil fuel corporations. Many faith communities use products or services from these companies.

Boycotting, divesting and prohibiting these activities can affect those companies directly, and it can also be a strong encouragement to other faith communities to do the same.  The bigger the institution, and the more money they have, the more powerful the impact can be on the fossil fuel companies.

There is a large movement already of faith communities divesting from fossil fuels, over 550 faith based organizations have divested from fossil fuels

Step 1: Engage with your faith community

Who is empowered to get your faith community to divest and what information will they need to make this decision? Who are your allies in this effort? It may be that you already have strong support for divestment among the decision-makers or that you at least have one or two key people on your side. You will need to find out.

What information will they need to make this decision? Some faith communities may want a presentation or workshop to take in all the facts and concerns relating to fossil fuels and the dangers of their continued financing. Others may be happy to make a commitment right away.

Step 2: Do your research

What investments does your faith community have? What policies are already in place to manage investments? Is there an ethical investment or ESG (Environment, social and governance criteria) policy?

Your faith community will probably start by creating a committee, including those responsible for finance and property, to determine what, if anything, must be done.

If your faith community has investments, you may need to go over these with a financial advisor to see if any mutual funds or other investments are directly financing any of the companies that work in fossil fuels. Even if they don’t have investments with the fossil fuel industry, they may purchase fossil fuels. What can your faith community do to stop funding climate chaos?

Step 3: Make changes and spread the word

Once you know what involvements the faith community has in the fossil fuel industry, you can work with your faith community to move their assets to sustainable financial models. You can update or institute ethical investment guidelines for the future.

Implementing this might look like changing banks, if your faith community banks with a financier of the fossil fuel companies. Find fossil free financing options here: https://bank.green/sustainable-eco-banks or https://fossilfreefunds.org/

It is important that you communicate this action and your reasoning to the bank. Before moving your investments you may ask your financial institutions to change their policy and stop investing in fossil fuels.

Once your faith community has taken the steps needed to move their money and investments out of the fossil fuel industry, it is important make that public, informing the world through newsletters, local newspapers, social media, mass media, public announcements, etc.

Sharing this news with other congregations in your area and up through the leadership of your faith community can encourage others in your denomination and different denominations to take action as well.

How your hospital or clinic can be a part of the solution

Step 1:  Do your homework

Who is empowered to get your hospital or medical institution to divest and what information will they need to make this decision? Likely you will need to reach the board of directors. Who are your allies in this effort? It may be that you already have strong support for divestment among the decision-makers or that you at least have one or two key people on your side. You will need to find out.

What investments does the hospital have? This may be difficult to find out, but Annual Reports and other public sources will likely list the size of an endowment or other assets held by the institution, and major institutional/corporate donors may also be listed.

What policies are already in place to manage investments? Is there an ethical investment or ESG (Environment, social and governance criteria) policy? Have there been any successful or unsuccessful divestment campaigns in the past and can you learn anything from those?

Who is most likely to be opposed to this? What arguments or reasons will they likely put forward to stop it? You need to know who and what you are up against as well as who and what you have on your side before you launch your campaign.

Step 2:  Build your campaign

Once you have identified who are your likely allies, as well as your likely opponents, you need to mobilize your allies and build a campaign. Recruit faculty, community members, medical professionals. Union representatives can be particularly helpful and influential in navigating the infrastructure.

In many cases, divestment will require a significant movement among faculty and the community to make this an issue for the administration.  But sometimes all it takes is talking to the right person with the right information. When this does not at first succeed, don’t give up! Above all, it takes persistence to get an institution to divest. It might take months or even years to succeed!

Step 3: Engaging Your hospital/ institution

What information will they need to make this decision? Some hospitals or clinics may want a presentation or workshop to take in all the facts and concerns relating to the fossil fuels, and the public health dangers of their continued burning. Your hospital or clinic will probably start by creating a committee, including those responsible for finance and purchasing, to determine how this relates to their current investment policies, if the policies need to be changed, and what if anything, can and must be done in order to stop involvement with the fossil fuel industry.

Here are some policy examples and initiatives in the medical community which you can site and model after in your work:

AMA Fossil Fuel Divestment Policy: https://policysearch.ama-assn.org/policyfinder/detail/divestment?uri=%2FAMADoc%2FHOD.xml-H-135.921.xml

SF PSR’s Divestment policy proposal: Sample Divestment/Investment Policy proposal (Word doc) 

https://us.noharm.org/initiatives/investment-divestment

Talk to your local businesses about divestment and boycotting

Whether you own a local business or you are a patron and community member, you can engage a dialogue for divestment and boycotting.

Your local businesses may have investments or financial holdings with the companies that make a profit off of fossil fuels, or the banks that support them. Many local businesses likely use products or services, maybe they could switch to more environmentally sustainable services.

Boycotting, divesting and prohibiting these activities can affect those companies directly, and it can also be a strong encouragement to other businesses to do the same.  The bigger the institution, and the more money they have, the more powerful the impact can be on the fossil fuel companies.

Step 1: Engage with your community

Many small business owners may not know if they are financially involved in the fossil fuel industry.

Talk to local business owners about fossil fuels, and ask them to look into any financial involvement they may have. Ask them about what policies they have in place to manage investments? Is there an ethical investment or ESG (Environment, social and governance criteria) policy? Be persistent and informative.

You may ask your local businesses to speak with their financial advisor to see if any mutual funds or other investments are directly financing any of the companies that finance off of the climate crisis.

You may also ask local businesses about what their sustainability policies are, do they get their electricity from renewable sources, what are they doing to cut their emissions?

Step 2: Make changes and spread the word

Once a business knows what involvement they have in the fossil fuel industry, they can move their assets to sustainable financial models. If necessary, you can push for them to update or institute ethical investment guidelines for the future.

Implementing this might look like changing banks, if your business banks with a financier of the fossil fuel companies. It is important that you communicate this action and your reasoning to the bank. Before moving your investments you may ask your financial institutions to change their policy and stop investing in fossil fuels, or risk losing your business.

Once the business has taken the steps needed to move their money and investments out of the fossil fuel industry, it is important make that public, informing the world through newsletters, local newspapers, social media, mass media, public announcements, etc.

While sharing the news is important to encourage other businesses to follow suit, it can be an added bonus for the businesses in an opportunity to get publicity and support by taking such an important stand against climate catastrophe.

Global Coalition working with businesses to reach climate goals:

https://www.wemeanbusinesscoalition.org

Incredibly useful guide from Boulder County and 350 Colorado

A local government blueprint for fossil-free finance:

https://assets.bouldercounty.gov/wp-content/uploads/2023/09/From-Dollars-to-Decarbonization.pdf

Complete with research, case studies, and step by step guides instructing towns on how they can decarbonizing their pension funds, insurances, banking, and to divest all town holdings from the fossil fuel industry.