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Special Report ESG: Carbon Risk, a timeline

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  • July 2011: The Carbon Tracker Initiative launches its seminal ‘Carbon Bubble’ report which, for the first time, puts the 2°C climate change target into a capital markets context.
  • July 2012: Rolling Stone publishes Bill McKibben’s ‘Global Warming’s Terrifying New Math’ article, which kicks off the fossil fuel divestment campaign across US college campuses. 
  • July 2013: Storebrand announces it is to divest coal and oil sand companies over stranded asset risk, becoming the first major financial institution to make such a move.
  • May 2014: Stanford University says it is to exclude 100 publicly traded coal companies from its endowment funds, and divest any existing holdings. 
  • September 2014: The Rockefeller Brothers Fund – endowed by Standard Oil tycoon John D Rockefeller – pledges to divest “as soon as possible” from coal and tar sands, and undertake a comprehensive analysis of its remaining fossil fuel investments. 
  • September 2014: More than 300,000 people march in support of the New York Climate Summit, ahead of which 350 institutional investors call for carbon pricing and an ambitious global climate change agreement. 
  • October 2014: Seven major investors, managing $500bn, become the first signatories of the Montreal Carbon Pledge, agreeing to measure and disclose their carbon footprints.
  • December 2014: The Norwegian Government Pension Fund publishes its report into fossil fuel divestment, pledging to consider divestment on a case-by-case basis.
  • December 2015: Climate talks in Paris are due to agree new global climate change agreement. 

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