University calls a halt to all investments in fossil fuel companies

Edinburgh University has stopped all investments in fossil fuel companies, it has announced.

In 2018, the university said it hoped to complete its divestment from fossil fuels within three years as part of an effort to become carbon neutral by 2040.

On Thursday, the university said it had now removed direct andpooledinvestmentsincompanies that are involved in the extraction and production of fossil fuels, such as coal, tar sands, oil and gas.

Theactionwastakenaspartof a range of activities Edinburgh University is undertaking to help tackle the climate crisis.

The university's research and teaching will continue to engage with the fossil fuel industrytoaidthetransitiontoa lowcarboneconomy.universityprincipalandvice-chancellor Professorpetermathiesonsaid: "As a university with a global reputation for researching climate change and supporting policymakers and communities worldwide to mitigate and adapt to its impacts, it is important that our own investments and operational decisions act on that knowledge.

"By shifting our investments outoffossilfuelsandintoorganisationsandfundsthatpositively impact society and the environment, we're playing our part in fostering a lower-carbon, healthier, more sustainable and equitable future."

Edinburgh University has invested more than £170 million in low carbon technology, climate-related research and businesses that directly benefit the environment since 2010.

It was the first university in

Europetobecomeamemberof the Principles for Responsible Investment, a Un-backed initiative which aims to make the global financial system more sustainable.

Director of social responsibility and sustainability Dave Gorman said: "The climate crisis continues to be one of the most pressing issues facing humanity.

"By divesting from fossil fuels and choosing to reinvest in more socially and environmentally beneficial causes, the university is proactively supporting society's transition to clean energy, a smarter use of resources and a more inclusive economy.

"We are now considering what further action we can take to move beyond divestment and contribute to a zero carbon future."