Edinburgh University to fully divest from three of the world's biggest fossil fuel producers
27 May 2015
Edinburgh University is to fully divest from three of the world's biggest fossil fuel producers within the next six months.
The decision has been taken by the university's investment committee.
It follows the end of a 10-day student occupation of one of its buildings in Chambers Street.
Outlining what was essentially a company-by-company approach, vice-principal Prof Charlie Jeffery explained on 12 May that the university would divest from companies involved in the extraction of coal and tar sands, only where feasible alternative sources of energy exist, and where companies do not invest in low-carbon technologies.
The university explains that its latest announcement was consistent with its original policy statement.
Professor Charlie Jeffery, the university's senior vice-principal, said: "This decision underlines the recent commitment made by the University to address the challenge of climate change though its responsible investment policy.
"We will act quickly to reduce harmful emissions through divestment, reinforcing the work we do to act on climate change through research and teaching."
The university stated that, as part of its promised engagement process prior to divestment, the three companies would be given the opportunity to respond in the next four weeks. It then intends to divest within six months.