Giant news organisation to divest from fossil fuels

The Guardian Media Group – the owners of one of the world’s most respected and influential news organisations – has begun the process of divesting itself from fossil fuels.

The move follows the launch of The Guardian’s own climate change campaign – in partnership with 350.org – to press two of the world’s largest charitable foundations to stop investing in oil, coal and gas companies.

It was also the second $1US billion divestment commitment in just two days — Syracuse University also ditched fossil fuels this week, demonstrating once again that cutting ties with the fossil fuel industry is both feasible and responsible.

So now is the time to increase the pressure on the Bill & Melinda Gates Foundation and Wellcome Trust to do the same.  Help us get to 200,000 petition signatures this week.

The Guardian Media Group is leading by example by divesting its entire £800 million portfolio (that’s $1.2US billion!) from fossil fuels and committing to re-invest in socially responsible alternatives. It’s the largest divestment commitment to date.

When the roll of honour for action on climate change is someday called, I believe the Guardian’s name will be high on the list. They’ve taken a bold step in joining the fight to keep fossil fuels in the ground, both through their journalism and their own investments.

As Alan Rusbridger, their Editor-in-Chief said: “What was a trickle is becoming a river and will, I suspect, become a flood.”  Let’s make sure the Guardian divestment commitment sends a strong signal to other foundations and organisations to get on the right side of history and divest too.

Help us use this momentum to put pressure on Bill & Melinda Gates Foundation and The Wellcome Trust to follow suit. Sign the Guardian’s divestment petition here.

By Bill McKibben – 350.org.

More info:

• The Guardian targets oil companies with ‘unprecedented’ climate-change campaign
• Guardian Media Group to divest its £800m fund from fossil fuels
• The Guardian Media Group’s decision to divest is in thanks to our readers