Divestment to Erode the Power of the Fossil Fuel Industry

Dalilah A. Shemia-Goeke ()
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Dalilah A. Shemia-Goeke: Independent Researcher

Chapter Chapter 7 in People Power Strategies to Curtail Corporate Power, 2025, pp 171-214 from Springer

Abstract: Abstract The Fossil Free EIBFossil FreeFossil Free EIB campaign, part of the global fossil fuel divestmentdivestment movement, aimed to pressurepressure the **European Investment BankEuropean Investment Bank (EIB) to stop funding fossil fuel projects, including gas, aligning its policiespolicies with the Paris Climate Agreement. Using a coalition of NGOsNongovernmental Organisations (NGOs) and CSOs, the campaign combined insider lobbyinglobbying and public pressurepublicpressure, mobilising civil societysociety to create reputational and political costscostspolitical for decision-makers. While partially successful, the campaign exposed challenges in overcoming the influence of the gas lobby and the limits of persuasion-based strategies. This chapter critiques the campaign’s approach from a nonviolent resistancenonviolentresistance perspective, exploring its hybrid strategystrategy and potential for stronger interdependent powerpowerinterdependent dynamicspower dynamics to erode corporate powercorporatepower of fossil fuels. Lessons are drawn for scaling up divestment movementsmovement and tackling systemic dependencies on fossil fuel industries.

Keywords: Fossil Free EIB campaign; Divestment movement; European Investment Bank (EIB); Fossil fuel industry; Nonviolent resistance; Public pressure; Reputational costs; Energy lending policy; Coalition campaigning; Climate justice movement (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-99094-6_7

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DOI: 10.1007/978-3-031-99094-6_7

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