Non-state governance and climate policy: the fossil fuel divestment movement

Ayling, Julie; Gunningham, Neil

doi:10.1080/14693062.2015.1094729

Cited by 177 publications

(124 citation statements)

References 20 publications

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“…An Australian study even concludes that divestment and divestment announcements will lead to greater action on climate change on policy and organizational levels (Linnenluecke, Meath, Rekker, Sidhu, & Smith, 2015). Other studies describe divestment as a form of private governance that might lead to the economic and political change that is needed to address climate change (Ayling & Gunningham, 2017).…”

Section: Literature Reviewmentioning

confidence: 99%

Fossil Fuel Divestment Strategies: Financial and Carbon-Related Consequences

Hunt

Weber

2018

Organization & Environment

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Fossil fuel divestment is discussed controversially with regard to its financial consequences and its effect on decarbonizing the economy. Theory and empirical studies suggest arguments for both, financial underperformance and outperformance of divestment. Therefore, our first research objective is to understand the financial effect of divestment. The second objective is to analyze the influence of divestment strategies on the carbon intensity of portfolios.Empirically, our analysis is based on the Canadian stock index TSX 260 for the time between 2011 and 2015. The results of the study suggest higher risk-adjusted returns and lower carbon intensity of the divestment strategies compared to the benchmark. We conclude that divestment is not only an ethical investment approach, but that it is able to address financial risks caused by climate change and, at the same time, is able to reduce the carbon exposure of investment portfolios.

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Section: Literature Reviewmentioning

confidence: 99%

Fossil Fuel Divestment Strategies: Financial and Carbon-Related Consequences

Hunt

Weber

2018

Organization & Environment

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“…Case studies indicate the potential for proposed fossil fuel infrastructure to generate strong local opposition, conflict among opponents and proponents/supporters, and wider media attention (Bomberg 2017;Cheon and Urpelainen 2018;Connor 2016;Connor et al 2009, 501-3;Ordner 2017). The divestment movement, with its moralized anti-fossil fuel frame, has in a very short time, enhanced public discourse on climate change, increasing the traction of both anti-fossil fuel messages and more mainstream, liberal climate policy responses in public debate (Schifeling and Hoffman 2017; see also Ayling and Gunningham 2017;Gunningham 2017a, 317-19;Seidman 2015Seidman , 1030.…”

Section: Awareness-raising and Framingmentioning

confidence: 99%

“…Specifically, it can help to isolate them from private supporters and enabling institutions (e.g., sources of finance and cultural legitimacy) who may be more sensitive than fossil fuel companies themselves to the effects of such pressure on their own reputations, legitimacy and/or profits (Devers et al 2009;King and Pearce 2010, 255-56). AFFNs arguably have strong potential to achieve such effects, primarily through targeting institutional investors and educational, religious and cultural institutions that enable or support fossil fuels (Ayling and Gunningham 2017;Gunningham 2017b;Seidman 2015;and see, e.g., Rainforest Action Network et al 2017).…”

Section: Alliance-building and Network-formationmentioning

confidence: 99%

Anti-fossil fuel norms

Green

2018

Climatic Change

133

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Historically, climate governance initiatives and associated scholarship have all but ignored the potential for Bglobal moral norms^to bring about changes in the political conditions for global climate mitigation. This is surprising, since global moral norms are widely employed-as both a mode of governance and an analytical framework-in other domains of global governance, from international security to human rights. However, recent national-level fossil fuel divestments, moratoria on new coal mines and bans on gas fracking, among other developments, suggest the promise of global moral norms prohibiting fossil fuel-related activities, which this article terms Banti-fossil fuel norms^(AFFNs). The article interprets recent examples of such activities in the light of international relations theory on moral norms to provide a general framework for understanding how AFFNs originate, spread and affect states. Specifically, the article argues that there are: (i) influential agents that are originating, and likely to continue to originate, AFFNs; and (ii) international and domestic mechanisms by which AFFNs are likely to spread widely among states and have a significant causal effect on the identity-related considerations or rational calculations of states in the direction of limiting or reducing the production or consumption of fossil fuels. The article also shows that, because they spread and affect state behaviour through mechanisms of Binternational socialization^and domestic Bpolitical mobilization^, AFFNs cohere with and build upon the new paradigm of global climate governance crystallized in the Paris Agreement. AFFNs, the article concludes, represent a promising new frontier in climate governance.

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“…We look at the use of the war metaphor by the policymakers and the military, and then we turn to the fossil fuel divestment (FFD) movement. The FFD movement has its origins in the United States, but it has spread across Canada and Europe as well, particularly across college and university campuses (Ayling and Gunningham, 2017;Mangat, Dalby and Paterson, 2018). FFD is where the war metaphor has been used in a slightly different way than the dominant war on/war of climate change constructions.…”

Section: Think Of 2013 As the Year Zero In The Battle Over Climate Chmentioning

confidence: 99%

Climate and wartalk: Metaphors, imagination, transformation

Mangat

Dalby

2018

Elementa: Science of the Anthropocene

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Fossil fuel divestment activists re-imagine how the war metaphor can be used in climate change action to transform thinking around what will lead to a sustainable society. Through the naming of a clear enemy and an end goal, the overused war metaphor is renewed. By casting the fossil fuel industry in the role of enemy, fossil fuel divestment activists move to a re-imagining of the climate change problem as one that is located in the here and now with known villains who must be challenged and defeated. In this scenario, climate activists move away from the climate and national security framing to a climate and human security way of thinking. (Solnit, 2012) Keyword

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Non-state governance and climate policy: the fossil fuel divestment movement

Cited by 177 publications

References 20 publications

Fossil Fuel Divestment Strategies: Financial and Carbon-Related Consequences

Fossil Fuel Divestment Strategies: Financial and Carbon-Related Consequences

Anti-fossil fuel norms

Climate and wartalk: Metaphors, imagination, transformation

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