Ten UK universities with endowments worth £115 million (US$175 million) are in the process of moving their money out of fossil fuels ahead of crunch UN climate change talks in Paris later this month, writes Emma Howard for the Guardian.
The University of Surrey, the University of the Arts London and Oxford Brookes University are divesting their respective £42 million, £3.9 million and £1.6 million endowments from all fossil fuel companies. Wolfson College at the University of Oxford has divested its £42 million endowment from thermal coal and tar sands, often considered the dirtiest fossil fuels because of the high level of carbon they emit. A further six universities – Birmingham City University, Cranfield University, Heriot-Watt University, the University of Hertfordshire, the University of Portsmouth and the University of Westminster – joined the global fossil fuel divestment movement.
The announcement doubles the number of UK universities to have divested as part of a global movement that has so far seen more than 2,000 institutions and 400 individuals worth a collective £2.6 trillion move investments out of various forms of fossil fuels.
Full report on the Guardian site
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