Sustainability is to be placed at the core of the Australian National University’s (ANU) investment strategy, but it’s unclear whether this means the institution will divest from fossil fuels.
ANU vice-chancellor Ian Young has agreed to meet representatives from the university’s divestment campaign group, FossilFree ANU, to discuss details of its shares in the coal and gas sectors.
Campaigners submitted a letter to Young, explaining how ANU’s investments in fossil fuels were causing social and environmental damage and were financially irresponsible.
“Universities are public institutions, sustained by and entrusted to further the public good. They ought to be open and accountable to the concerns and interests of the public, and especially their local communities”, the letter said.
“It cannot be socially responsible to profit from the damage these industries cause. Fossil fuel extraction damages local health, ecosystems, water and agriculture, and burning these fuels damages our climate. Eighty per cent of the world’s fossil fuels must stay unburnt to meet our government’s own climate targets.”
In May, the university revealed in a document that it was reviewing “the current guidelines that the Investment Advisory Committee operates under as leading to the best ethical and financial results for ANU”.
It also said that ANU sold more than 600,000 shares in coal seam gas company Metgasco, because of various complaints. However, it also bought 190,000 new shares in another coal company, according to other documents.
The student association hopes that the new sustainable investment policy will look also at fossil fuels divestment. Ray Yoshida, from the environment department of the ANU student association, wrote to Young, saying, “We note the expanding divestment movement in the US, and urge ANU to lead this movement in Australia. We are concerned ANU will otherwise be left behind.”
In June, environmentalist Bill McKibben visited ANU and spoke to the public about the necessity of divesting from fossil fuels. He previously described Australia’s coal sector as a “rogue industry” and said that coal should stay in the ground if we want to tackle climate change.
Like our Facebook Page
How to Find an Eco-Friendly Termite Control Service Provider in Malaysia
Eco-Friendly Vegans Win Most Battles Not the War
3 Iconic Chicago Billboards Eco-Friendly Advertisers Can Learn from
EnviroSolar’s Abe Issa Discusses Success in Green Entrepreneurship
How Sports Could Be Impacted by Climate Change
What Eco-Friendly Patients Should Know about Online Therapy
6 Reasons Why Meal Delivery Services are Eco-Friendly
The Path for Retail’s Sustainable Future
4 Eco-Friendly Ways to Treat a Sinus Infection
4 Strategies for Eco-Friendly Real Estate Investors to Find Properties
How Managed Print Services Helps to Reduce Paper Waste
Why Scientists Are Concerned About ‘Forever Chemicals’ In Drinking Water
Meat Farming Is Only Getting Smarter, Easier & Eco-Friendlier
What is Eco-Friendly Homesteading and How Does it Affect Your Insurance?
Importance of Using a Water Purifier in an Area with High Pollution
Alternative Financing Ideas for Green Businesses that Shun Banks
Tencel Material Demand Shows Britain Is More Eco-Friendlier Than Ireland
How To Invest in Clean Energy Stocks in Only Five Easy Steps!
How To Secure Funding As An Eco-Entrepreneur?
4 Amazing Eco-Friendly Businesses Worth Starting in 2021
- Features8 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy9 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features8 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Invest10 months ago
The Eco-Friendly Evolution of Bitcoin Over the Years