The 350.org and Divest-Invest groups said the momentum behind their campaigns has accelerated sharply in the last few weeks, spiralling from the $2.6trn they announced in September at Climate Week in New York.

The two pointed to a string of major announcements since then, notably the decisions by insurance giant Allianz and Dutch pension fund PFZW to shun coal.

The campaigners also hailed Oslo as the first global capital to ban investments in fossil sources from its $9bn pension fund.

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