Special Report ESG: Carbon Risk, a timeline
- 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.