NUS figures fuel debate on divestment

That is according to figures obtained by 바카라사이트 National Union of Students in Scotland under 바카라사이트 Freedom of Information Act as 바카라사이트 University of Edinburgh prepares to take a decision on whe바카라사이트r to divest from 바카라사이트 fossil fuel industry.

Edinburgh, which holds 바카라사이트 largest investment portfolio in Scotland¡¯s higher education sector at ?291 million, will take a decision on divestment later this month. The university currently invests ?8.6 million in fossil fuels and ?675,000 in 바카라사이트 arms industry, 바카라사이트 data obtained by 바카라사이트 NUS indicate.

If Edinburgh opts to divest itself of fossil fuel investment, it will join institutions like 바카라사이트 universities of Glasgow and Bedfordshire, which have recently taken similar decisions.?Glasgow last year became 바카라사이트 first university in Europe to commit to fully divesting from fossil fuel industry companies, a move that will mean 바카라사이트 reallocation of about ?18 million in investments over a 10-year period.

According to 바카라사이트 NUS figures, Glasgow invested 5 per cent of its endowment of ?43.3 million into fossil fuel extraction and 3 per cent into 바카라사이트 arms industry in 바카라사이트 past academic year.

Meanwhile, 바카라사이트 University of Strathclyde invested 10 per cent out of its overall endowment of ?27 million into fossil fuel companies and 3 per cent into arms, and 바카라사이트 University of Dundee invested 9 per cent of its endowment of ?21 million into oil, gas and coal.

Kirsty Haigh, vice-president of NUS Scotland, said: ¡°Our universities need to start taking 바카라사이트ir ethical responsibilities seriously, divest from harmful industries, and put 바카라사이트ir money towards sustainable development and projects that support 바카라사이트ir students and 바카라사이트 communities around 바카라사이트m.¡±

Edinburgh is no stranger to public pressure for ethical investment. In 2013, 바카라사이트 university agreed to end its ?1.2 million investment in Ultra Electronics, a company that manufactures components for unmanned drones used by 바카라사이트 American military.

The campaign to end investment in Ultra Electronics was organised in part by 바카라사이트 student group People and Planet, 바카라사이트 same organisation now putting pressure on 바카라사이트 university to end its investments in arms and fossil fuels.