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To: the Board of Governors of the University of Portsmouth
University of Portsmouth: Divest from the Fossil Fuel Industry
We call upon the University of Portsmouth to:
1. Publicly declare that it will not invest in the fossil fuel industry.
2. Immediately halt any planned new investments in fossil fuel companies.
3. Divest any existing funds from the fossil fuel industry and shift them to lower risk, ethical investments within 5 years.
4. Amend its Ethical Investment Policy to explicitly exclude all fossil fuel companies from its portfolio.
5. Commit to a thorough, transparent process, inclusive of all students and staff, of reviewing its ethical safeguards to ensure that they effectively uphold our community’s values.
Why is this important?
The fossil fuel industry is driving the world towards a climate crisis.
The science is clear, if we are to avoid catastrophic changes to our planet’s climate, threatening ecosystems and the lives of billions of people, we must drastically reduce our dependence on fossil fuels and transfer to cleaner energy systems. And we must do it quickly.
The fossil fuel industry is actively blocking efforts to achieve this transition. It is wielding its unparalleled political influence to ensure global carbon emissions continue to rise, and reaping exorbitant profits at the cost of all our futures. This cannot be allowed to continue.
It is incumbent upon all people of conscience now to take a stand against those individuals and institutions that would enrich themselves at humanity’s expense. The first step in doing that is to declare that you won’t be one of them.
The University of Portsmouth should not attempt to profit from this morally bankrupt industry, and should join the growing international movement to withdraw its social license to operate.