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Durham University Offloads Fossil Fuel Investments After Student Backlash

Posted by Richard Ward in ,

Image courtesy of Flickr, Creative Commons

Durham University has decided to sell the shares it holds in fossil fuel companies after an internal review found the policy was no longer compatible with its green image.

The university said it wanted to focus on becoming a "major international partner" in green energy projects.

Its investments in fossil fuel extraction are reportedly worth less than £1.5m but will end as soon as possible after a commission was set up to review divestment options.

The commission was created after Durham Students' Union urged officials to withdraw investments from companies involved in fossil fuel extraction.

Commenting on the decision, Professor Cowling, who led the commission, said: "The decision to divest from companies involved in fossil fuel extraction is an important one for the university."

"Durham is a world top 100 university, a research partner of international standing and a significant employer in north-east England. We are committed not only to divestment, but to becoming a major partner in the future development of green energy."