Even as the presence of major oil and gas corporations is nearly ubiquitous at the U.N. climate talks in the Peruvian capital known as COP20, fossil fuel divestment campaigns have gained ground in various countries and are moving to counter the influence of the “dirty energy” lobby here.
As the COP20 enters its second and final week, delegates from 195 countries are still trying to address the urgency of climate change by reaching an international agreement to decelerate global warming. However, activists are worried that the influence of fossil fuel companies within COP20 might slow down an already sluggish process.
In response to climate inaction, student organisers have called for fossil fuel divestment. The movement aims to disinvest endowments from a list of 200 companies that are ranked by the largest known fossil fuel reserves.