Since the last campaign in 2015, the University of Reading has committed to partial divestment from coal and tar sands. Whilst we warmly welcome this commitment, it is not enough.
We are calling on the University of Reading’s Investment Committee and Vice-Chancellor Robert Van de Noort to:
• Freeze any new investment’s in fossil fuel companies
• Divest ENTIRELY from the fossil fuel industry within 3 years and shift funds to lower risk ethical investments
Why is this important?
We are in the midst of a climate crisis and holding investments in fossil fuel companies is immoral.
The current investment practices of the University are in direct violation of their investments policy, which clearly states:
“The University of Reading believes in socially responsible investment and responsible stewardship. It expects its investment managers to take account of social, environmental and ethical considerations in the selection, retention and realisation of investment.”
The University is recognised for producing world-class research on climate change and takes active steps to improve sustainability on its campuses. However, full fossil fuel divestment should be at the forefront of any sustainability strategy, and the University cannot make claims to be sustainable without it. If Vice Chancellor Robert Van de Noort wishes to make the University of Reading the “greenest university”, then full divestment is a necessity.
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