Swansea University has announced its commitment to divesting from fossil fuel investments.
In recent years the University has seen its credentials in the areas of organisational corporate responsibility and sustainability significantly improve, rising through the ranks of the Guardian-published University Green League to 9th place in 2018, out of 154 higher education providers.
Following a meeting of its Finance Committee, the University – which undertakes world-leading research into technologies and approaches to combat climate change - has confirmed that over the next 12 months it will cease to invest in fossil fuel extraction and production related funds.
Dr Angus Muirhead, Swansea University’s Acting Chair of Finance Committee said:
"Having listened to the views of our staff and student body about their growing concerns around ethical investment, we have made the decision to move towards full divestment from fossil fuel investments within the next 12 months.
"This decision aligns with our strategic commitments to operating on a resilient and sustainable basis as laid out in our Strategic Plan 2020."
Dr Heidi Smith, Swansea University’s Head of Sustainability said:
"I’m delighted that the University has made this commitment to divesting from fossil fuel investment, proving itself to be a modern, progressive organisation that considers human and environmental impacts in its decision-making processes.
"We will continue to work towards ensuring that the University’s investment portfolio focuses on seeking positive investment opportunities with companies that have demonstrated a sound record of social and environmental performance."
A growing number of Swansea University staff and students have backed the movement for fossil fuel divestment which has been gathering momentum over recent years.
Student Jimmy Hall, who has been involved in fossil free campaigning at the University said:
"We are very pleased that the University has made the decision to fully divest from fossil fuels within twelve months. This reflects widespread support from students and staff and demonstrates the University's commitment to act in the interests of people, planet, and future generations."
You can find out more about Swansea University’s sustainability efforts here: https://www.swansea.ac.uk/sustainability/
- Tuesday 26 March 2019 13.25 GMT
- Tuesday 26 March 2019 13.24 GMT
- Press Office