100 signatures reached
To: University of Dundee
Fossil Free Dundee
1. Withdraw all investments from fossil fuel stocks, bonds and investments.
2. Commit not to invest in fossil fuel companies in the future.
3. Explore and implement investment strategies targeted at building a sustainable future.
Why is this important?
It is recognised across the world that global temperatures must remain no more than 2°C higher than in pre-industrial times if climate change is not to destroy our entire way of life. For this to happen, study after study has demonstrated that 80% of currently known fossil fuel reserves must remain in the ground. This view is endorsed by mainstream elements of society, from Mark Carney, the governor of the Bank of England, to the United Nations. Companies like BP and Shell – and the University’s investments in them—are not part of a sustainable future, no matter how they, or the University, might pretend otherwise. Small investments in renewables are far outweighed by the catastrophic impacts of continued oil extraction. In universities around this country and the world, divestment is denying these companies their moral acceptability –. All moral and financial arguments point to the same thing – divestment from fossil fuels.