If Quaker antislavery activist John Woolman were alive today, he would probably be doing everything in his power to resist the fossil fuel industries destabilizing our climate.
Woolman, who in the mid-1700s refused to cooperate with any aspect of the slave trade, would probably divest any ownership interest he had in big oil, gas, and coal companies. To profit financially from corporations that are destroying the planet would be unconscionable.
The divestment movement received a tremendous boost the day after 400,000 people took to the streets of New York City for the People’s Climate March. In advance of the United Nations Climate Summit on Sept. 22, the Rockefeller Brothers Fund — an $860 million foundation built on the oil fortune of John D. Rockefeller — announced its commitment to divest its holdings of fossil fuels.
This was the latest wave in a series of Divest-Invest announcements including the launch of Divest-Invest Individual, which facilitates a meaningful role for individuals in the divestment and reinvestment movements. More than 700 inaugural investors – with investments totaling $2.6 billion – announced their intention to divest from fossil fuel industries and reinvest in clean, renewable energy. Hundreds of individuals have since taken the pledge to stop new investments in fossil fuels and divest from the top 200 carbon-holding companies within five years.
“The destruction of the earth’s environment is the human rights challenge of our time,” said South African Archbishop Desmond Tutu in a video-taped message to the UN Climate Summit. He called on world leaders to freeze further exploration for new fossil fuel sources. “Divest from fossil fuels and invest in a clean energy future. Move your money out of the problem and into solutions.”