Fossil fuel divestment: theories of change, goals, and strategies of a growing climate movement

The fossil fuel divestment movement has developed into an offshoot of the climate change movement in recent years. The movement has become increasingly effective at stigmatizing the fossil fuel industry. However, fossil fuel divestment remains poorly understood. Here, we apply the concept of theories of change to expand understanding of fossil fuel divestment through a thematic analysis of interviews with climate change and divestment activists. The main research question pursued is: What are the underlying strategic assumptions of fossil fuel divestment campaigns? Findings reveal that activists hold theories of change that are deeply antithetical to the fossil fuel industry and that divestment is part of a bigger strategic plan that seeks the ultimate demise of the industry. Implications for the study of divestment and climate politics are discussed.