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Divestment an Opportunity to Set Global Precedent

Media Release17th September, 2015

Divestment an Opportunity to Set Global Precedent

350 Aotearoa is delighted that Parliament will have the opportunity to address divesting the New Zealand Government from fossil fuels. This morning, Russel Norman’s Climate Change (Divestment from Fossil Fuels) Bill was pulled from the Members’ Bill ballot, which will allow Members to vote on the issue. “We’re thrilled that New Zealand has this opportunity. This is a chance for our country to regain its “clean, green” reputation, to stop profiting from climate change, and to finally do the right thing,” said Niamh O’Flynn, National Coordinator of 350 Aotearoa.Scientists agree that over 80% of known fossil fuel reserves must stay in the ground if we are to avoid catastrophic climate change.

“Fossil fuels are no longer an ethical investment. It would be such a win for the planet if our government voted to divest from fossil fuels, and would set a global precedent.”

350.org has been leading the snowballing divestment movement globally. Many notable businesses, organisations, institutions and governments have committed to divest from fossil fuels, including the Australian Capital Territory, the city of Portland, The Rockerfeller Brothers Fund, and The World Council of Churches.

In New Zealand, Victoria University, the Dunedin City Council, Christchurch City Holdings, the Tertiary Education Union, and The Anglican Church of Aotearoa have already committed to divesting from fossil fuels. “We urge Members of Parliament to join the growing movement of people around the globe - vote to save the future of our children, and our planet. Be on the right side of history.”

Ends.

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