The South Bay 350 Climate Action Group fully supports the Divest From Fossil Fuels movement and we are working to divest individually as well as urging our current and alma mater colleges, our city and state governments and our churches and religious institutions and other institutions that serve the public good should divest from fossil fuels.
We want institutions to immediately freeze any new investment in fossil fuel companies, and divest from direct ownership and any commingled funds that include fossil fuel public equities and corporate bonds within 5 years.
Here’s where you can sign our petition asking our South Bay Beach Cities to divest
200 publicly-traded companies hold the vast majority of the world’s proven coal, oil and gas reserves. Those are the companies we’re asking our institutions to divest from. Our demands to these companies are simple, because they reflect the stark truth of climate science:
- They need immediately to stop exploring for new hydrocarbons.
- They need to stop lobbying in Washington and state capitols across the country to preserve their special breaks.
- Most importantly, they need to pledge to keep 80% of their current reserves underground forever.
Please visit 350.org’s FAQ page for more information on fossil fuel reserves and climate change.
And here in our own backyard and neighborhoods we want our cities to divest of the physical fossil fuel assets in place and being planned – the Redondo Beach AES Power Plant and the E&B proposed 30+ oil and gas wells operation. They not only risk our health and safety and generate unacceptable pollution and greenhouse gases, they are also each unnecessary and need to be eliminated to reduce our global warming emissions back down to safe levels.