Divestment Farce

Fossil fuel divestment targets
only publicly traded stocks;
but pension funds targeted by
the 350 divestment campaign
invest hundreds of billions in
privately traded securities,
such as hedge funds and
private equity, that are
heavily invested in fossil
fuel production–including
fracking.

Compromising the 350
divestment campaign is the
fact it has received hundreds
of thousands of dollars from
hedge fund managers like
Jeremy Grantham and
billionaire Tom Steyer, who
has major investments in
fossil fuels. Steyer’s
Farallon Capital was, in fact,
a target of 350, until he
bought their silence.

Grantham, meanwhile, donated
millions to buy the support of
Sierra Club, Nature
Conservancy, Environmental
Defense Fund and Greenpeace.
As usual, the 350 Climateers
are clueless about how they
are being used by fossil fuel
investors to undermine
democracy and the
environmental movement.