News / Environment
Defeat for university divestment campaign
A campaign to force Bristol University to withdraw millions of pounds worth of investment in the fossil fuel industry has been knocked back by the institution’s court.
A motion to the university’s advisory body asking for a gradual phasing out of fossil fuel investments – known as divestment – was narrowly defeated by 71-65 votes.
The council is only an advisory body and the university can choose to take a different decision.
The university is under pressure to take action after a petition was handed to the new vice chancellor calling for the university to follow others in the Uk with a change of direction to more sustainable investments.
Despite the university’s Cabot Institute’s aims to “tackle the challenges of uncertain environmental change” and a pledge to become a net carbon neutral campus by 2030, the university was found to have invested £2,646,651 into 14 companies within the fossil fuels sector, according to an investigation by The Bristol Cable.
Staff at the university recently penned an open letter led by Cabot Institute member, Professor Chris McMahon of the Engineering Faculty, which lent its support to the divestment campaign.
A vote in the university’s court took place on Friday, November 27, where the Green Party’s Carla Denyer made a speech in support of the motion.
Following the defeat she said: “I am pleased that so many members of the court got behind my motion.”
Chris McMahon, professor of engineering design at the university, said: “Given the important scientific work of the Cabot Institute and the University’s Green Capital pledges, this strongly supports the divestment position.”
Last month the university said it had met with the company which manages its investment and would consider the divestment debate.
A statement following Friday’s vote said: “The motion inspired a lively debate, but at a vote, it was defeated by a narrow margin. The university is continuing to consider this serious issue.”
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