“It’s clear the transition to a clean energy future is inevitable, beneficial and well underway, and that investors have a key role to play,” said Ban Ki-Moon, the UN Secretary General, welcoming a study according to which investment funds valued at $5.2 trillion decided to sell off their fossil fuel assets.

Published by Arabella Advisors, a philanthropist company, the study shows that at December 2016, 688 institutions and 58,400 private organizations across 76 countries committed to this cause. Nearly 90% of these are private investors with $4.6 trillion of represented assets. Out of these, $400 billion are in the oil, coal and gas sectors.

“Divestment has permeated every sector of society: from universities and pension funds, to philanthropic and cultural institutions, to cities, faith groups, insurance companies and more. Now at $5 trillion, the movement is unstoppable,” said May Boeve, executive director of 350.org, one of main militants to have led the divest charge.

Gwladys Johnson