Incredible work from 350 Netherlands, Fossielvrij, Friends of the Earth International, FairFinance, the Dutch Fair Pension Guide and others! Giant Dutch pension fund ABP is pulling out 15 billion euros ($17.5 billion) of investments in fossil fuel producers by 2023.

ABP is the fifth largest pension fund in the world! If they can pull their money out of fossil fuels within two years, any financial organisation can, big or small. It’s taken years of pressure from lots of campaigning organisations and it’s an incredible example of what happens when we work together to pressure organisations funding the climate crisis.

The news comes as a report is released by the DivestInvest movement, outlining how a total of $39.2 trillion (!) worth of assets have now committed to some form of fossil fuel divestment, a figure that’s higher than the annual GDP of the United States and China combined. This includes more than 1,485 institutions from 71 countries – with recent commitments from the cities of Rio de Janeiro, Glasgow (site of COP26), Paris, Seattle, Auckland and Copenhagen.

There’s still a long way to go in the fight to turn off the money taps to fossil fuel companies, but together, we’re making incredible, inspiring and unprecedented progress.

Check out what is happening on the global day of action, October 29th, here: