Target: Parliament of Norway President Olemic Thommessen
Goal: Praise the Parliament of Norway for selling coal-related investments.
Norway has decided to sell most of its investments related to coal from its $890 billion government pension fund, which is considered to be the largest sovereign wealth fund in the world. This makes it the biggest institution to move away from investing in stock that is connected to fossil fuels.
This historic move consists of shifting billions of dollars of stock out of companies whose businesses rely on at least 30 percent of coal. According to the New York Times, this marker applies “whether a company’s business is based on coal, as in mining companies, or the percentage of its revenue that comes from coal. The second category would include power companies that burn coal.”
While Parliament approved this policy a few days ago, it will actually go into effect next year. The Church of England announced last month that it would divest from companies involved in coal or oil sands from its $14 billion dollar fund for investment. Norway’s decision to divest may influence other institutions to do the same. Sign this petition to congratulate Norway on a decision that will benefit generations to come by creating a better world for today and tomorrow.
Dear President Olemic Thommessen,
I am writing this letter to you to commend you on your unanimous decision to pull the Government Pension Fund Global out of coal-related stock. This decision will set a precedent for institutions and governments around the world that it is possible for large investment funds to be environmentally conscious by divesting. Furthermore, it sends the message that institutions can take climate change seriously while still being successful by making decisions that will lead to a healthier planet.
By divesting from the most environmentally damaging fossil fuel, Norway is making it clear that it is the government’s responsibility to take broader action for the planet. This action can help keep Norway from adding to costly and unhealthy environmental damage by investing in environmentally destructive companies.
It is time for institutions to create policies that protect the earth. Thank you for setting an example for governments, college campuses, and corporations to follow, knowing it was the right decision. In a time where profit is often more important than people and the environment, I applaud you and thank you for choosing the planet.
[Your Name Here]
Photo Credit: cleantechnica