Dear Friend,
The latest Intergovernmental Panel on Climate Change (IPCC) report has
just been released, and the news is very bad.
The chances of staying under the Paris Agreement goal of 1.5 degrees
Celsius is extremely slim. The sea has risen to dangerous levels, and the
Arctic ice has melted to its lowest levels ever recorded. And no
government is doing enough to stop climate change from getting worse.^1
In fact, the U.S. government is still heavily invested in Big Oil in
federal pension funds, depending on the success of the fossil fuel
industry to grow.^2
[ [link removed] ]Demand Progress is rallying grassroots pressure on the Biden
administration to divest from fossil fuels and take greater steps to take
on the oil companies. Will you chip in $10?
If you've saved your payment information with ActBlue Express, your
donation will go through immediately:
[ [link removed] ]Donate $10
[ [link removed] ]Donate $20
[ [link removed] ]Donate $40
[ [link removed] ]Or, donate another amount
The Thrift Savings Plan (TSP) manages investments for 6 million federal
workers and military personnel. The funds are invested at an estimated $10
to $20 billion in Big Oil.^3
Maine just became the first state to require its state pension fund to
divest from Big Oil. California and New York just used its investment to
pressure a board change at ExxonMobil to promote energy transition from
fossil fuels.^4 Even the asset management firm that oversees the TSP funds
is moving its non-federal money away from fossil fuels, but it requires
government board approval to do that with the TSP, and so far, the board
is standing firm with Big Oil.^5
A divestment from Big Oil by the federal government would weaken the
companies, and send a strong message that we are serious about combatting
climate change.
But the federal government is not only staying invested with Big Oil. It’s
continuing to support subsidies for the industry that could go into
promoting green energy instead. And the Biden administration is on track
to approve 6,000 new oil drilling permits on public lands—more than since
George W. Bush was president.^6
The IPCC report is just further evidence that climate change is a problem
that all of us must address. We’ve mobilized tens of thousands of Demand
Progress members to contact the Biden administration and Congress, urging
them to end fossil fuel projects, such as pipelines and drilling on
federal land. Now we need your help to continue putting our grassroots
power behind getting the Biden administration to stop its support of Big
Oil.
[ [link removed] ]Will you chip in $10 to help convince the Biden
administration to act seriously on climate change?
Thanks for standing with us.
Robert Cruickshank,
Demand Progress
PS: Your contributions are what keep us nimble and prepared to take on
important fights like these as they happen. [ [link removed] ]Will you become a monthly
donor to keep our work going?
[ [link removed] ]DONATE
Sources:
1. Quartz, "We read the 4000-page IPCC climate report so you don’t have
to," [ [link removed] ]August 12, 2021
2. Bloomberg Law, "Energy Investment and the ERISA ESG Spigot," [ [link removed] ]July
8, 2021
3. Labor Notes, "Get Fossil Fuels Out of Our Pension, Say Environmental
Protection Workers," [ [link removed] ]June 3, 2021
4. Bloomberg Law, "Energy Investment and the ERISA ESG Spigot," [ [link removed] ]July
8, 2021
5. Labor Notes, "Get Fossil Fuels Out of Our Pension, Say Environmental
Protection Workers," [ [link removed] ]June 3, 2021
6. NPR, "Biden Promised To End New Drilling On Federal Land, But Approvals
Are Up," [ [link removed] ]July 13, 2021
----------
PAID FOR BY DEMAND PROGRESS (<a href="[link removed]">DemandProgress.org</a>) and not authorized by any candidate or candidate's committee. Contributions are not deductible as charitable contributions for federal income tax purposes. Join our online community on <b><a href="[link removed]">Facebook</a></b> or <b><a href="[link removed]">Twitter</a>.</b>
You can unsubscribe from this list at any time: [link removed]
