University of Glasgow working group recommends fossil fuel divestment

Glasgow, UK — The working group set up by the University of Glasgow to consider divestment, has recommended full divestment of fossil fuels. The group presented their advice at a closed meeting of Glasgow University Court, the university’s decision-making body, on June, 25 2014.

Miriam Wilson, Fossil Free campaigner at the University of Glasgow says, “This is a major step towards a university that acts in line with science and in the interest of its students’ future. We will continue to push our university to actually commit to phasing out its investments in fossil fuels within five years.”

The working group recommends that the university puts a freeze on new investments in fossil fuels, winds down its existing holdings over the next ten years, and where possible re-invests in green industries. The Fossil Free campaign criticises the ten-year timeframe as too long and demands a phase-out of fossil fuel investments within five years. A final decision should be approved in October 2014 by the University Court. The University of Glasgow has assets of at least £19 million invested in the fossil fuel industry [1].

The working groups’ recommendation follows ten months of campaigning and creative actions by the Fossil Free University of Glasgow student group. On the morning of the University Court meeting, the group dropped a banner calling on the university to act in the interest of its students future. A petition urging the university to divest has gathered more than 1,250 signatures. [2]

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Photo of Fossil Free University of Glasgow banner drop available here.

 

Contact:

Miriam Wilson, Fossil Free University of Glasgow, miriam.frances.wilson@gmail.com, +447740168718

Melanie Mattauch, Europe Communications Coordinator 350.org, melanie@350.org, +4915158120184

 

Notes to editors

[1] as of July 31, 2012

[2] Fossil Free University of Glasgow petition

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