In this report, we document the divestment movement’s exponential growth, review its history, and explore the causes of its expansion.
This report tracks the aggregate data and expansion of the global fossil fuel divestment movement since Arabella Advisors last documented such measures in 2014. As of the report’s publication, 436 institutions and 2,040 individuals spanning 43 countries and representing $2.6 trillion in assets have committed to divesting from fossil fuel companies. While in 2014, foundations, universities, faith-based organization, and NGOs led the charge to divest, today large pension funds and private-sector actors such as insurance companies hold more than 95 percent of the total combined assets of those committed to divest. A growing recognition of climate risks and projections of imminent carbon regulation have made fossil fuel investments too a risky proposition. Even more encouraging, more capital than ever is flowing toward fossil fuel-free products and clean, renewable energy solutions. This surge in divestment and investment comes as world leaders are under mounting pressure to take decisive and meaningful action on climate change. The rapid growth of the movement reflects the increasing urgency and numbers of those committed to accelerating the transition to a global clean energy economy.