The University of Cambridge has announced a commitment to divest from all direct and indirect investments in fossil fuels by 2030.
This pledge is in line with the university’s plan to cut its greenhouse gas emissions to zero by 2038.
Being one of the largest of its kind, the £3.5 billion Cambridge University Endowment Fund will aim to build up ‘significant’ investments in renewable energy by 2025.
The university notes it will withdraw investments from conventional energy-focused public equity managers by December 2020 and will investigate before accepting all research funding and other donations to ensure that the donor aligns with its climate objectives.
Professor Stephen John Toope, Vice-Chancellor, said: The university is responding comprehensively to a pressing environmental and moral need for action with a historic announcement that demonstrates our determination to seek solutions to the climate crisis.
“We will approach with renewed confidence our collaborations with government, industry and research partners around the world as together we work for a zero-carbon future.”