Over 75% of UK Universities Commit to Fossil Fuel Pledge, Activists Report
More than three-quarters of UK universities have made a groundbreaking commitment to exclude fossil fuel companies from their investment portfolios, as revealed by campaigners. This move signifies a monumental shift in the investment practices of higher education institutions, following years of advocacy from both staff and students across the UK.
The student-led campaign group People & Planet recently announced that 115 out of 149 UK universities have publicly pledged to divest from fossil fuels. This decision effectively removes £17.7 billion worth of endowments from the grasp of the fossil fuel industry. Laura Clayson, a representative from People & Planet, expressed astonishment at the progress made, emphasizing that a decade ago, such a widespread refusal to invest in fossil fuels would have been unimaginable.
Championing Justice and Solidarity
The success of the Fossil Free universities campaign, initiated by People & Planet in 2013, can be attributed to its focus on amplifying the voices of communities directly impacted by the climate crisis. By shedding light on the struggles faced by these communities, the group aims to underscore the real-world consequences of investment decisions made by UK universities. Clayson emphasized the importance of highlighting these stories of struggle to bridge the gap between boardrooms and frontline experiences.
Global Solidarity in Action
One significant project highlighted by the campaign is the East African Crude Oil Pipeline (EACOP), a controversial endeavor that poses environmental risks and has faced opposition from local communities. Ntambazi Imuran Java, lead coordinator at the Stop EACOP Uganda campaign, commended UK students for their support in advocating against harmful extraction projects like the EACOP. Despite facing challenges and pushback, the collective efforts of activists, students, and impacted communities continue to demand accountability and promote renewable energy alternatives.
Path Towards Ethical Investment
Four UK institutions, including Birmingham City University, Glasgow School of Art, Royal Northern College of Music, and the University of Bradford, have recently integrated fossil fuel exclusions into their ethical investment policies. With 115 out of 149 UK universities now committed to divesting from fossil fuels, the landscape of sustainable investment practices in higher education is undergoing a transformative shift.
As People & Planet prepares to unveil its latest university league table ranking institutions based on ethical and environmental performance, the pressure mounts on the remaining 34 UK universities yet to embrace fossil fuel divestment. The collective efforts of students, staff, and activists are paving the way for a more sustainable and socially responsible future in higher education.