Onto our final panel of the day. We are joined via video-link by @billmckibben of @350, Julia Peck of @OxUniFossilFree, and Louisa Casson of @GreenpeaceUK . We will be discussing the social and political impacts of the divestment movement.
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK Julia Peck: Should we divest or engage? Julia points out that Cambridge's fund of funds model means that it is not the University itself which is a voting shareholder but we rely on representatives from fund managers.
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK JP: On staying below 1.5 degrees warming - If I was told before getting in a car I had a 50% of making it out alive, I wouldnt get in that car.
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK JP: 'Shareholder engagement has never resulted in fundamental changes to a business model'
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK JP: Shareholder engagement is a form of waiting. It has no power without the threat of divestment. Divestment gives the engagement debate some teeth
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK JP: Shareholder resolutions are not binding. Voting records show consistent inaction on climate change mitigation.
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK JP: Since the Paris Agreement, the 200 largest fossil fuel companies have spent just 3% of their investments on renewables. 97% has stayed in fossil fuels.
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK JP: Shareholder engagement happens behind closed doors. Divestment opens up the debate to anyone. Importantly it brings the debate in the view of politicians.
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK Louisa Casson: Divestment the smartest structural change to make. The important mood-music to changing cultural and political perceptions of the fossil fuel industry.
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK LC: Divestment driven by youth moment. Young people who cannot escape climate change with greatest sense of urgency. Movement away from blaming individuals as we are come together as a movement.
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK LC: Fossil fuel industry helped by the burden of proof being on campaigners to show what they are doing wrong. Inaction is not neutral, it actively helps fossil fuel companies.
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK @billmckibben: 'Divestment has worked better than we thought it would!' We are eating away at the social license of these companies.
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK @billmckibben: Universities have a duty to divest because they are where we first came to discover the risks posed by climate change. They should be leading the fight against the 'intellectual dishonesty of the fossil fuel industry'
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK @billmckibben: Fossil fuel companies have spent billions spreading 'The most consequential lie in human history'.
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK LC: Grassroots movements give language and vocabulary to allow wider engagement with public. Divestment movement must centre climate justice and marginalised voices!
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK @billmckibben: University of California is pretending their divestment is a purely financial decision. The 7 year student campaign in California made it unavoidable. The fossil fuel industry is only dying financially because of global climate campaigns
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK @billmckibben: The conflict of the next few years will be with the banks funding these dying fossil fuel companies. He references this article: newyorker.com/news/daily-com…
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK @billmckibben: 'The plural of privilege is establishment' - Those with the most privilege must lead when facing existential threats. The Universities of Oxford and Cambridge, holding over half the UK's higher education financial power, must act now.
@billmckibben @350 @OxUniFossilFree @GreenpeaceUK @billmckibben: 'We don't know if we're going to win the fight, but at least we know now that there will be one'
