A campaign to abandon fossil fuels to boost the fight against climate change has rapidly picked up steam, with institutions worth $2.6 trillion pledging to divest, a study said Tuesday. The announcement, months before a high-stakes United Nations climate meeting in Paris, marks a 50-fold increase from a year ago when the Rockefeller family led an announcement of fossil fuel divestment.
The study from consultancy Arabella Advisors found that more than 400 institutions and 2,000 people worth a total of $2.6 trillion have since pledged to get out of fossil fuels. Some of the most notable have been the University of California System and the Norway Pension Fund, which has drawn particular notice as the Scandinavian country - like the Rockefellers - grew wealthy thanks to oil production.
One of the latest, if least surprising, pledges came from the Leonardo DiCaprio Foundation, the environmental charity led by the actor and climate activist.
"Climate change is severely impacting the health of our planet and all of its inhabitants, and we must transition to a clean energy economy that does not rely on fossil fuels, the main driver of this global problem," DiCaprio said in a statement.
Fossil fuels - especially coal, but to a lesser extent oil and gas - contribute to emissions of carbon dioxide that have led to the planet's rising temperatures.
Scientists warn that, if left unchecked, global warming will seriously worsen droughts, floods and other disasters.