October 1, 2021 Read More →

Aberdeen University plans fossil fuel divestment by 2025

Energy Voice:

Aberdeen University, considered one of the UK’s top academic institutions for petroleum studies, has decided to divest from fossil fuels.

The University’s Court approved the policy on Wednesday to exclude fossil fuel extractor companies from its £52.7m investment portfolio by 2025.

The move, coming just weeks away from the UN COP26 climate conference in Glasgow, makes the university, which lies in the heart of Europe’s “oil and gas capital”, the 90th in the UK to commit to divestment.

Currently the university does not invest directly in any fossil fuel company and indirect holdings are pooled in assets are less than 3% of the portfolio, according to the uni’s website.

Aberdeen University has previously stated that the divestment would allow it to “influence to encourage and support the transition to the low carbon economy”.

It also follows “constructive discussions” with the students’ union and the University of Aberdeen Fossil Free Campaign.

[Allister Thomas]

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