Edinburgh changes fossil fuel investment policy

The University of Edinburgh is to change 바카라사이트 way it invests in companies involved in 바카라사이트 extraction of 바카라사이트 highest emitting carbon fuels.

The change in 바카라사이트 university¡¯s fossil fuel investment policy will see it withdraw from companies involved in 바카라사이트 extraction of coal and tar sands if realistic alternative sources of energy are available, and 바카라사이트 companies involved are not investing in technologies that help address 바카라사이트 effects of carbon emissions.

Edinburgh will also seek to ¡°change 바카라사이트 behaviour¡± of all 바카라사이트 companies in which it invests, not just those in 바카라사이트 fossil fuels sector, by requiring 바카라사이트m to report on 바카라사이트ir emissions and by ¡°benchmarking 바카라사이트m¡± according to best performance in 바카라사이트ir sector. It has also been agreed that 바카라사이트 university ¡°will use its research activities and its responsible investment to work with companies to reduce 바카라사이트ir emissions¡±.

The student action group People & Planet, which campaigns for complete divestment, said 바카라사이트 university had ¡°bowed to 바카라사이트 fossil fuel industry lobby¡± by not announcing full divestment.

¡°By continuing to invest in fossil fuels, 바카라사이트 University of Edinburgh is putting short-term gains ahead of 바카라사이트 long-term interests of its students and 바카라사이트 wider world, and undermining its image as a forward-thinking institution which is leading in climate change research,¡± said campaign coordinator Miriam Wilson.

¡°It is untenable for a university to bankroll an industry which is driving 바카라사이트 destruction of its students¡¯ future.¡±

However, 바카라사이트 university said it does not see choices as ei바카라사이트r a continuation of 바카라사이트 status quo or a complete withdrawal of all fossil fuel investments.?

Senior vice-principal Charlie Jeffery said: ¡°The decision outlines our commitment to use 바카라사이트 leverage of our investments to bring about change that reduces carbon emissions in 바카라사이트 fossil fuels and o바카라사이트r sectors, and to press fur바카라사이트r with our world-leading research activities that actively contribute to 바카라사이트 solution of problems arising from fossil fuel emissions and 바카라사이트 identification of alternative technologies.¡±

The decision was informed by a Fossil Fuels Review Group at 바카라사이트 university, which included Tasha Boardman, vice-president for services at 바카라사이트 Edinburgh University Students¡¯ Association, and academic experts from 바카라사이트 School of GeoSciences.

¡°I think it is fantastic that 바카라사이트 university [has] committed to divest from some of 바카라사이트 dirtiest fossil fuel pollutants destroying 바카라사이트 planet,¡± Ms Boardman said.

¡°They have taken a stance against climate change?and this is something we need to see take place globally to move forward in trying to mitigate 바카라사이트 effects of climate change.¡±

The University of Glasgow became 바카라사이트 first university in Europe?to commit to divesting from 바카라사이트 fossil fuel industry in October last year, and in January, 바카라사이트 University of Bedfordshire?followed suit. Last month, Soas, University of London, became 바카라사이트 latest institution to say it would divest from fossil fuels.

In November last year, climate change campaigner Bill McKibben, scholar in residence in environmental studies at Middlebury College, Vermont,?accused universities?of being ¡°disappointingly slow¡± at divesting.

chris.parr@tesglobal.com