Banking giant Lloyd’s of London to divest from coal over climate change
Lloyd’s of London, the world’s oldest insurance market, has become the latest financial firm to announce that it plans to stop investing in coal companies.
Finance
This archive collects milestones and progress stories involving the finance sector — banks, investment firms, development funds, and financial institutions driving positive change. From inclusive lending to green investment, these stories highlight how money moves toward better outcomes.
US Bank to stop funding pipelines as divestment movement expands worldwide
As a nearly ten-days-long global mobilization calling for divestment from fossil fuels comes to an end, climate campaigners are celebrating a major victory stateside: U.S. Bank has announced that it will no longer finance fossil fuel pipeline construction.
ING sells stake in Dakota Access Pipeline in major victory for divestment push
The financial giant is the first of a group of 17 banks to divest from the loan that financed the pipeline as the embattled project is set to begin transporting oil
Fossil fuel divestment funds double to $5 trillion in one year
Fossil fuel divestment crossed a remarkable threshold in late 2016, when committed funds reached $5.2 trillion — double the total from just 14 months earlier. What began with student activists pressing universities had pulled in pension managers, insurance giants, and Norway’s sovereign wealth fund. It was the moment climate pressure started speaking fluently in the language of balance sheets.