Fortnightly 26th March 2017 Issue 326 Winner of Best Publication and Best Use of Digital Media 2017
University of Bristol’s Independent Student Newspaper
University of Bristol to fully divest from fossil fuel industry Jecca Powell Online News Editor The University of Bristol has announced plans to withdraw its investments in fossil fuel companies. The University has around £2m invested in companies connected with fossil fuel, all of which will be divested, following extensive talks with the Fossil Free society. The decision makes Bristol the 10th Russell Group university and 62nd UK university to fully divest, coming just behind the University of Edinburgh, which made a similar decision last month. Papatya O’Reilly, Fossil Free UoB President, said: ‘It fills me with pride to know that our University is playing its part in the Fossil Free movement. So many institutions have divested now that it has become mainstream, yet its impact is undeniable.’ The University had already introduced measures to reduce its involvement in the fossil fuel industry that were deemed insufficient by Fossil Free. Bristol University invested £3m in a ‘green’ fund in 2016, and last year pledged to divest from companies that derive more than 5% of their revenues from the extraction of coal, oil and gas from tar sands by 2018. The University’s most recent decision, however, marks a move from partial to full divestment, that could see Bristol as the first Russell Group university to fully divest, with experts predicting that the process could be completed as soon as 2020. Chief Financial Officer at the University, Robert Kerse, called the timescale ‘ambitious’, but emphasised the ‘importance of swift action to combat climate change.’ He said: ‘Hitting this target will make Bristol the first Russell Group university to achieve full divestment. ‘We are proud to be a sector-leader in sustainability - from the research we support, the curricula we teach and the student experience we offer, to the way we behave as an organisation.’
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