Students urge St Andrews University to stop investing in Fossil Fuels - 14th March
A student movement has been launched to press St Andrews University to rid fossil fuel extractors from its investment portfolio completely. Although it was one of the first universities to introduce an ethical investment policy, the Fife institution still has money in at least one company in the field.
Its investment list from last year showed equity security in Oil Search Ltd, an oil and gas exploration and development firm in Papua New Guinea, worth almost £1 million.
In just three weeks a petition launched by Divest St Andrews has gathered more than 500 signatures.
Current policy, it said, still permitted investment in fossil fuel extraction which was of grave concern.
Co-chairperson Jennifer Morton said: “By investing in fossil fuel companies, no matter how much money is implicated, the university is directly profiting from climate change.
“We believe that by removing all investments from fossil fuels, the university will be able to fulfil its desires to become economically and environmentally sustainable across the board, in so doing renewing its commitment to mitigating catastrophic climate change.”
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