In his annual address to the University community, Vice-Chancellor Professor Stephen J Toope today announced that the University of Cambridge aims to divest from all direct and indirect investments in fossil fuels by 2030 as part of the University’s plan to cut its greenhouse gas emissions to zero by 2038, more than a decade before the date set by the UK government.
“The University is responding comprehensively to a pressing environmental and moral need for action with an 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,” Vice-Chancellor Toope said.
Cambridge Zero’s director, Emily Shuckburgh, said: “These announcements put Cambridge at the forefront of the Race to Zero, the global alliance committed to rapidly reaching net zero emissions, and hopefully it will inspire many others to join in the ambitious climate action in the lead up to the UK hosting Cop26 in 2021.”
The step-by-step changes – which the University hopes will inspire other institutions - will see the CUEF:
- Withdraw investments with conventional energy-focused public equity managers by December 2020
- Build up significant investments in renewable energy by 2025
- Divest from all meaningful exposure in fossil fuels by 2030
- Aim to achieve net zero greenhouse gas emissions across its entire investment portfolio by 2038, in line with the broader targets of the University.
And find coverage of the annoucement in:
- The Guardian, Cambridge University to divest from fossil fuels by 2030
- The FT, Cambridge university to dump fossil fuel investments by 2030