Investing in the Future: Norway, Climate Change, and Fossil Fuel Divestment

Gustavo Sosa-Nunez and Ed Atkins (ed.), Environment, Climate Change and International Relations: Tendencies, Assessments and Perspectives, E-International Relations, 2016, 206-225.

20 Pages Posted: 27 Apr 2016 Last revised: 5 May 2016

See all articles by Matthew Rimmer

Matthew Rimmer

Queensland University of Technology (QUT)

Date Written: 2016

Abstract

The fossil fuel divestment movement has undergone explosive growth over the last few years - expanding from encouraging educational institutions to adopt ethical investment policies to focusing upon cities, pension funds and philanthropic charities. The fossil fuel divestment movement has attained global ambitions - challenging sovereign wealth funds and national governments to engage in fossil fuel divestment, and pushing for fossil fuel divestment at international climate talks - such as the Paris Climate Summit in 2015.

By exploring and analysing a key campaign to 'Divest Norway', this chapter considers the efforts to globalise and internationalise the fossil fuel divestment campaign. Part 1 explores the origins of the fossil fuel divestment movement, and the application of such strategies in a variety of contexts. Part 2 looks at the campaign to divest Norway's sovereign wealth fund of fossil fuel investments. There has been much discussion as to whether the bold decision of Norway to engage in coal divestment will encourage and inspire other sovereign wealth funds to engage in fossil fuel divestment. The conclusion considers the efforts to introduce fossil fuel divestment as a policy initiative for nation states as a policy option in international climate law.

Keywords: Fossil Fuel Divestment, Norway, Divest Norway, Sovereign Wealth Funds, Future Funds, Paris Agreement

JEL Classification: K32, F21, Q28

Suggested Citation

Rimmer, Matthew, Investing in the Future: Norway, Climate Change, and Fossil Fuel Divestment (2016). Gustavo Sosa-Nunez and Ed Atkins (ed.), Environment, Climate Change and International Relations: Tendencies, Assessments and Perspectives, E-International Relations, 2016, 206-225.. Available at SSRN: https://ssrn.com/abstract=2770844

Matthew Rimmer (Contact Author)

Queensland University of Technology (QUT) ( email )

Level 4, C Block Gardens Point
2 George St
Brisbane, Queensland QLD 4000
Australia

Register to save articles to
your library

Register

Paper statistics

Downloads
101
Abstract Views
602
rank
269,168
PlumX Metrics