While the pledges have been praised by campaigners, investigations show universities have still accepted millions of euros in funding from fossil fuel companies in recent years.
Universities across the UK are severing ties with the fossil fuel industry following years of campaigning by staff and students.
Just yesterday, the eight universities in Wales agreed to cut ties with the fossil fuel industry after a landmark decision by the University of South Wales (USW).
Over three-quarters of British institutions have committed to exclude oil and gas companies from their investment portfolios, according to student-led environmental justice group People & Planet.
Birmingham City University, Glasgow School of Art, Royal Northern College of Music and the University of Bradford also recently joined the list.
While campaigners have praised the pledges, investigations show universities have still accepted millions of euros in funding from fossil fuel companies in recent years.
Fossil Free universities: ‘Generations of students have fought for justice’
115 out of 149 UK universities have publicly pledged to divest from fossil fuels, so that they no longer invest in shares of these energy companies or accept their sponsorship money, People & Planet announced on Friday.
This means endowments totalling roughly £17.7 billion (€21.4 billion) are now no longer available to the fossil fuel industry.
Laura Clayson, Campaign Manager for Climate Justice at People & Planet, praised the dedication of campaigners.
“That we can celebrate this today is down to the generations of students and staff that have fought for justice in solidarity with impacted communities,” she told UK newspaper the Guardian.
“The days of UK universities profiteering from investments in this neo-colonial industry are over.”
UK university investments harm communities on the climate crisis front line
People & Planet established the ‘Fossil Free Universities’ campaign in 2013.
Part of the network’s efforts have focused on amplifying the “struggles and voices” of communities most impacted by the climate crisis to spotlight the real-world impact of investments made by UK universities.
“The demand for fossil-free came from frontline communities themselves and it is an act of solidarity from global north organisers campaigning on this,” Clayson said.
“We have a responsibility to speak the lived experiences of the communities resisting these inequalities into megaphones at protests and in negotiations within university boardrooms, to highlight their stories of struggle in spaces so often detached from the reality of everyday life on the frontlines.”
Before the end of the year, Planet & People will release its latest university league table, which ranks institutions according to ethical and environmental performance.
ADVERTISEMENTThe group says they will then increase efforts to urge the remaining 34 UK universities to divest from fossil fuels.
UK universities have accepted millions in fossil fuel money
While the pledges are a significant step forward, an investigation by Investigate Europe and openDemocracy found that 60 universities in the UK accepted a total of at least €170 million between 2016 and 2023 in funding from fossil fuel firms.
Shell, together with its subsidiaries and associated entities, was the leading contributor with at least €62 million going to British institutions.
The next largest donors were BP, Malaysia’s state-owned oil company Petronas, Total, and mining company BHP.
ADVERTISEMENTEurope’s universities lag behind in push to divest from fossil fuels
Away from the UK, universities across Europe are doing much less to cut ties with the fossil fuel industry.
Of 211 educational institutions that have committed to divesting, only 15 are based in mainland Europe, according to 2021 data from the climate campaign organisation 350.org analysed by news site Science|Business.
Investigate Europe’s research also found that universities in eight countries on the continent accepted at least €90 million from oil and gas companies between 2016 and 2023.
Of that total, 10 of Norway’s universities and university colleges received €68 million in fossil fuel funding.
ADVERTISEMENTSource: Euro News
