Divestment of Fossil Fuel Assets

Forthcoming, Harro van Asselt & Michael Mehling (eds.), Research Handbook on Climate Finance and Investment Law. Edward Elgar 2021.

19 Pages Posted: 7 Jan 2021

See all articles by Mikko Rajavuori

Mikko Rajavuori

University of Eastern Finland - School of Law

Date Written: January 3, 2020

Abstract

Fossil fuel divestment refers to activist-led campaigns aiming to convince large institutional investors to sell their holdings in companies that operate in carbon-intensive sectors and industries. Part of a larger anti-fossil fuel movement, the growing momentum of the fossil fuel divestment movement has put forward a real-world experiment of the interplay between global capital markets and transnational activist discourse in the context of climate policy and climate change mitigation. This chapter analyses divestment of fossil fuel assets as an emerging trend in climate finance and climate governance from two main perspectives. First, the chapter discusses the history, the political and financial logic and the impact of fossil fuel divestment. Second, the chapter focuses on the legal and governance implications of fossil fuel divestment. The chapter concludes by identifying further research opportunities.

Keywords: divestment, climate, fiduciary duty, fossil fuel, asset management

Suggested Citation

Rajavuori, Mikko, Divestment of Fossil Fuel Assets (January 3, 2020). Forthcoming, Harro van Asselt & Michael Mehling (eds.), Research Handbook on Climate Finance and Investment Law. Edward Elgar 2021., Available at SSRN: https://ssrn.com/abstract=3724464 or http://dx.doi.org/10.2139/ssrn.3724464

Mikko Rajavuori (Contact Author)

University of Eastern Finland - School of Law ( email )

Joensuu
Finland

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
72
Abstract Views
241
rank
380,978
PlumX Metrics