Week 40: Investors From 10 Countries Are Responsible for 91% of Institutional Investments in the Fossil Fuel Industry

Dear all,

Gigantic floods, catastrophic hurricanes, devastating fires, and horrific heatwaves are happening all around the world. At COP28 in Dubai, the international community agreed to “transition away” from fossil fuels. In May 2024, however, over 7,500 institutional investors still held bonds and shares in coal, oil, and gas companies to the tune of $4.3 trillion. Investors and asset managers from 10 countries are responsible for 91% of institutional investments in the fossil fuel industry. These countries are the US ($2.8 trillion), Canada ($254 billion), Japan ($168 billion), the UK ($152 billion), India ($115 billion), China ($87 billion), Norway ($86 billion), Switzerland ($80 billion), France ($71 billion), and Germany ($70 billion). US investments alone account for 65% of total investments in fossil fuel companies. You can find data here: https://investinginclimatechaos.org/data

When thinking about reducing your carbon footprint, actions like flying less or eating plant-based foods might spring to mind. But there’s another less obvious, yet impactful, way to make a difference: how you manage, save, invest, and donate your money. Most people don’t immediately associate their financial decisions with climate change. They might think of their car emissions or the energy their home consumes, but rarely about their bank accounts or investments. Yet, the financial institutions where you hold your money may be directly funding activities that harm the planet, including financing the fossil fuel industry.