Fossil fuel divestment funds double to $5tn in a year

UN secretary general Ban Ki-moon welcomes new total revealing concern over coal, oil and gas investments has entered financial mainstream

The value of investment funds committed to selling off fossil fuel assets has jumped to $5.2tn, doubling in just over a year.

The new total, published on Monday, was welcomed by the UN secretary general, Ban Ki-moon, who said: "It's clear the transition to a clean energy future is inevitable, beneficial and well underway, and that investors have a key role to play."

Related: Institutions worth $2.6 trillion have now pulled investments out of fossil fuels

Related: A beginner's guide to fossil fuel divestment