As of late May, the Norwegian parliament seems poised to pass an international divestment from the stocks of companies are more than 30% dependent upon the mining or burning of coal. This is a huge step forward and we (tentatively) wish to thank the Stortinget for taking this step. It is additionally significant since the current Conservative led minority coalition government is not the greatest supporter of divestment, but went along with the sense of the nation and the world in participating in the decision. June 5 is the final vote. But we wish to continue to augment our support here at DivestNorway.org toward the next steps… extending the divestment to oil and other fossil-fuel energy intensive sectors and companies from tar sands to cement.
In this modern world where we have little time to spare, most important things should come first. So please Add Your Voice to the current Norwegian Parliamentary debate on fossil fuel divestment. Don’t stop there, but rather please forward this link widely to others in Norway and around the world.
When oil was discovered in the North Sea, the Norwegian government wisely decided to invest a large portion of this one-time economic windfall to benefit all Norwegians in perpetuity. This began the Statens Pensjonsfond (SPU), or Government Pension Fund (GPF), known to the rest of the world as the Norwegian Sovereign Wealth Fund.
Norway, one of the most ethical nations on Earth, is now at a crossroads. Climate destabilization from burning fossil fuels has become clear. Norway’s younger citizens will live in a world severely damaged by greenhouse gas emissions from fossil fuel use. Many may not live to see their benefits in the world that science predicts. We will, in the words of Dr. James Hansen, “leave our children a climate system that is out of their control.”
This irony has created a huge debate in Norway. How can the Statens Pensjonsfond remain invested in companies whose activities threaten the welfare of its beneficiaries? As the Rockefeller Brothers Fund expressed upon its full divestment in 2014, wealth accumulated from oil has a special responsibility to divest from companies that continue to do harm and instead reinvest in those that seek to reduce and remediate past harm.
Add Your Voice to urge members of the Stortinget, or Norwegian Parliament, to divest the Statens Pensjonsfond from fossil fuel and carbon-intensive companies and reinvest those funds in renewable energy and energy conserving companies, growth industries of the 21st century.