John -
When I was hired at 350 almost five years ago, I was given one major task:
"Find an iconic divestment campaign and win it." Today, I am humbled to announce that our movement just succeeded:
This victory is the biggest fossil fuel divestment by a pension fund in the world. Ever. That’s pretty iconic!
But before I dive into how we won, the national and global implications of this victory for the fossil fuel industry, and where our movement goes from here, if you want to help us keep this momentum going and win more iconic divestment campaigns, use this link to chip in $3 (or any amount that works for you):
https://act.350.org/go/momentum
Our People-Powered Campaign
Back in 2016, 350 teamed up with the DivestNY coalition in New York. We knew that if we succeed at getting the iconic pension funds of New York to actually divest, the impact would be global. So we set out to build out a multi-generational, multi-racial coalition in New York State that refused to give up.
Our organizers pulled off our first victory in 2018, when New York City announced their commitment to divest city pension funds from fossil fuels within five years. From there, we took that energy and helped stop the Williams fracked gas pipeline and got a ban on new fossil fuel infrastructure in the city.
We had the momentum and the organizing power to call on New York City to divest, so we set our sights on winning an even bigger target: the New York State pension fund.
Through focused on-the-ground organizing and diligent campaigning over the course of years with the incredibly smart groups in the DivestNY coalition, we brought people together to organize, protest, march, lobby, and ultimately create a movement that matches the scale of the climate crisis.
It took flexibility. In the face of the coronavirus pandemic, we shifted into virtual campaigning and video conference advocacy and lobbying to push this campaign over the finish line.
And fundamentally, it took tens of thousands of supporters chipping in what they can, when they can. From the organizers on the ground to the grassroots donors who made it happen, we did this together.
Dismantling the Fossil-Fuel Industry
Today's victory is sending shockwaves through the entire fossil fuel industry. Because of the pension fund’s size and stature, the effects of this win will be felt by other funds, banks and financial institutions around the globe.
New York State Comptroller Tom DiNapoli's announcement sets a very high bar and challenges institutions and governments everywhere to rapidly shift resources and money away from fossil fuel laggards and into climate solutions and our communities.
Our movement has always been clear about the connection between fossil fuel companies and the financial institutions who bankroll them. Ten years ago, very few people were connecting the dots between the financial sector and the fossil fuel industry. Together, we brought this message to the mainstream media, and today, we made it clear that our movement has the organizing power to win.
Where Our Movement Goes from Here
The fight to stop the fossil fuel industry is coming to a head in Minnesota, where Indigenous water and land protectors, climate activists, health care professionals, and Minnesota residents are demanding a stop to Line 3 tar sands pipeline construction.
While Minnesota Governor Tim Walz, militarized police, and pipeline company Enbridge attempt to fast track this toxic pipeline, we are building on today’s victory in New York by rising up to demand President-elect Joe Biden stop Keystone XL, Dakota Access, and the Line 3 pipelines on day one of his presidency.
Our movement is gearing up for a massive campaign in Minnesota. And because construction has just started, it is critical that we ask:
John, I want to thank you for all you've done for our movement. This victory belongs to all of us, and I know that together we will look back on this moment as a turning point in the end of the age of fossil fuels.
Let's keep going.
In solidarity,
Richard Brooks
350.org
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PO Box 843004, Boston, MA 02284-3004
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350.org is a global movement that fights for a just and equitable world by stopping the fossil fuel industry from continuing to destroy our climate.