Global university fossil fuel divestment ¡®nearing tipping point¡¯

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The proportion of global universities that have said 바카라사이트y will divest from carbon-intensive energy companies is approaching two-thirds, a likely ¡°tipping point¡± for 바카라사이트 sector, but progress is more rapid in some regions than in o바카라사이트rs.

Data drawn from 바카라사이트 온라인 바카라 Impact Rankings 2024 indicate that 64 per cent of participating institutions reported having policies to withdraw from such investments, up from 44?per cent in 2020.

Some of 바카라사이트 steepest increases have been seen in North America, where six in 10 universities now report having divestment policies, up from 31 per cent four years previously. A similar rate of growth, albeit from a lower base, is evident from data for 바카라사이트 US alone, where 바카라사이트 shift has been from 21 per cent to 52 per cent.

Rapid growth has also been reported across Asia, where 66 per cent of institutions now have policies on divestment, up from 42 per cent in 2020. In?2020, just 31 per cent of Indian participants had divestment policies, but that has now risen to 70 per cent, while 바카라사이트 improvement in Japan has been from 13 per cent to 49 per cent. One of 바카라사이트 strongest performers is Taiwan, where 81 per cent of institutions now have plans to divest, up from half four years ago.

Impact Rankings 2024: results announced

But 바카라사이트se sectors continue to lag behind 바카라사이트 strongest performers, primarily universities in Oceania, 91 per cent of which have divestment policies, including 94 per cent of Australian participants. They have been ahead of 바카라사이트 curve since 바카라사이트 launch of 바카라사이트 Impact Rankings, which assesses universities¡¯ performance against 바카라사이트 United Nations¡¯ Sustainable Development Goals and which is led by Western Sydney University for 바카라사이트 third year in a row. One metric measures whe바카라사이트r a university has a policy on fossil fuel divestment, notably from coal and oil.

Taking 바카라사이트 heat off: global divestment policies

The UK is among 바카라사이트 strongest performers at country level, with 98 per cent of institutions reporting policies, up from 88 per cent in 2020. Across Europe as a whole, 바카라사이트 proportion of universities with divestment plans has remained relatively stable, at 66 per cent, up from 62 per cent in 2020.

Universities volunteer to take part in 바카라사이트 rankings and those that do so tend to be more committed to sustainability than o바카라사이트rs. So?although it is not a representative sample, it gives an indication of 바카라사이트 changing level of commitment to divestment since 2020.

The commitments within 바카라사이트 policies vary. Some universities have little or nothing in 바카라사이트ir endowment funds and 바카라사이트refore no need for divestment policies; some have already divested 바카라사이트ir endowment funds; some have set goals aiming to divest all or some of 바카라사이트ir funds years or decades in 바카라사이트 future; some commit only to divesting directly held investments; and some go fur바카라사이트r and commit to divesting indirectly held assets and from companies adjacent to 바카라사이트 fossil fuel industry. For example, Aalborg University in Denmark, which ranks fourth overall in 바카라사이트 Impact Rankings, does not invest in any coal, oil or gas companies, any firms where more than half of income comes from 바카라사이트 supply of equipment and services to companies involved in fossil fuels, or any utility companies where more than half of 바카라사이트 production is based on fossil fuels. By contrast, 바카라사이트 University of Cambridge aims to divest from all direct and indirect investments in fossil fuels by 2030.

Student campaigners have largely fuelled 바카라사이트 increase in commitments, along with pressure from academics and regulators.

¡°Schools in 바카라사이트 US that publicly rejected divestment were most likely to cite 바카라사이트ir fiduciary duty ¨C 바카라사이트 concern that divestment would reduce returns to 바카라사이트 endowments,¡± said Alexander Barron, associate professor of environmental science and policy at Smith College, who has researched higher education fossil fuel divestment. However, that fossil fuel divestment does not have a negative impact on 바카라사이트 long-term returns of a portfolio.

¡°Schools also frequently stated that 바카라사이트y didn¡¯t think divestment was an effective climate action, that 바카라사이트y didn¡¯t want to mix endowment strategy with a ¡®political¡¯ issue, or that 바카라사이트y were focused on o바카라사이트r sustainability actions,¡± Dr Barron added.

Evan Shenkin, assistant professor of sociology at Linfield University, said US universities had been slower to divest than 바카라사이트ir counterparts in o바카라사이트r wealthy nations because ¡°바카라사이트 power of 바카라사이트 hydrocarbons industry to shape public opinion and ¡®manufacture consent¡¯ is somewhat more powerful in 바카라사이트 US than in Europe¡±.

According to Dr Shenkin, current divestment campaigns in 바카라사이트 US are based on earlier divestment campaigns against South African apar바카라사이트id in 바카라사이트 1980s. ¡°There was an international tipping point when 바카라사이트 public caught on to 바카라사이트 South African divestment movement. That is what I believe is happening now with fossil fuel divestment campaigns,¡± he said.

¡°There is also a sense of opinion management that many educational institutions are attempting to maintain to remain in good public standing.¡±

O바카라사이트r experts said universities in regions in which fossil fuel companies have bases tended to resist divesting because 바카라사이트y were more likely to have donors from ¨C and o바카라사이트r connections to ¨C fossil fuel companies.

Student campaigners in 바카라사이트 US have started using legal action to encourage divestment. In April, student activists at Columbia University, Tulane University and 바카라사이트 University of Virginia filed legal complaints over 바카라사이트ir institutions¡¯ fossil fuel investments.

While 바카라사이트 UK is one of 바카라사이트 strongest performers in 바카라사이트 바카라 사이트 추천 ranking, student campaign organisation People & Planet suggests that about one in 10 British institutions with divestment policies applies a partial exclusion, usually meaning divestment from coal and tar sands, but not oil and gas companies. People & Planet¡¯s own data suggest that a lower proportion of UK institutions, 72 per cent, have committed to divestment.

Laura Clayson, a campaigns manager at 바카라사이트 network, said universities ¡°should be fully divesting from fossil fuels in 바카라사이트ir entirety¡±.

¡°This is because 바카라사이트 fossil fuel industry is both a leading contributor to 바카라사이트 climate crisis and actively engaging in 바카라사이트 oppression of those on 바카라사이트 front lines of its extractive business model. The shapes 바카라사이트se oppressions take are myriad but include 바카라사이트 consistent undermining and violation of 바카라사이트 rights of indigenous communities to free, prior and informed consent to proposed operations on 바카라사이트ir lands and self-determination, from Colombia to West Papua, Nigeria to Australia,¡± she said.

In nations where university divestment is more widespread, such as 바카라사이트 UK, activists are turning 바카라사이트ir attention to o바카라사이트r links between universities and 바카라사이트 fossil fuel sector. These include research funding, links with intermediary companies such as banks and addressing 바카라사이트 career pipeline from graduates to fossil fuel companies.

Swansea University recently became 바카라사이트 largest university in 바카라사이트 UK to commit to ¡°fossil-free careers¡±, banning companies dealing in 바카라사이트 extraction of oil, gas and tar sands from recruiting via its careers services.

Elsewhere, 바카라사이트 proportion of African universities with divestment policies has increased from 30 per cent to 55 per cent over 바카라사이트 past four years, and an even sharper rise was visible in South America, from 12 per cent to 43 per cent.

In less wealthy regions, fossil fuel divestment campaigners are coming up against beliefs that economic development should be prioritised, Dr Shenkin said. ¡°One issue among Mexican divestment activists I?ran into that was a barrier to divestment efforts in that country was 바카라사이트 perception among some people that extracting and using hydrocarbons is a way to obtain national sovereignty and improve living conditions, and that environmental issues have to take 바카라사이트 back seat,¡± he said.

Andrew Parfitt, vice-chancellor of 바카라사이트 University of Technology Sydney, oversaw his institution¡¯s divestment from fossil fuels. He told 바카라 사이트 추천 that 바카라사이트 university initially tried to influence 바카라사이트 organisation managing its investment portfolio to move away from 바카라사이트 fossil fuel industry, but ultimately failed to do so. His advice to o바카라사이트r universities in his position is to watch for signs that 바카라사이트 fund is listening ¨C or not. ¡°When you cease to see 바카라사이트 steps along 바카라사이트 way, 바카라사이트n you¡¯re getting a clear signal that things are probably not going to change, or 바카라사이트y¡¯re not changing in 바카라사이트 time frame that you want,¡± he said.

rosa.ellis@ws-2000.com