Union Council calls on ICU to lobby Imperial for divestment
Council wants Imperial to divest from all fossil fuel companies within three years.
This week, following a contentious debate on the Israel-Palestine war, Union Council members voted to support a motion calling on Imperial to:
- ‘Make a public commitment to exclude all fossil fuel companies from their investment portfolio(s).’
- ‘Introduce a publicly accessible ethical investment policy that explicitly excludes all fossil fuel companies.’
- ‘Fully divest from all fossil fuel companies within three years.’
The motion was brought by Imperial Climate Action, the student activist group. It was seconded by Union President Camille Boutrolle, three other Officer Trustees of the Union (all but Yi Yang, Deputy President (Education)), and Trinity Stenhouse, president of the Royal College of Sciences Union (RCSU, representing science students at Imperial).
‘Imperial’s public commitment to continue investments in oil and gas companies helps to provide these companies with credibility and a social licence to continue their current operations with limited scrutiny,’ states the motion.
Imperial helps to provide these companies with credibility.
Noting Imperial’s ‘world-class reputation for scientific excellence and evidence-based thinking’, it argued that ‘divestment will have a far more powerful impact on driving change within the fossil fuel sector than behind-the-scenes shareholder engagement.’
Under its Socially Responsible Investment Policy, Imperial says it ‘will continue to invest in fossil fuels companies that demonstrate they are actively moving towards meeting Paris Agreement targets.’
Under its Socially Responsible Investment Policy, Imperial says it ‘will continue to invest in fossil fuels companies that demonstrate they are actively moving towards meeting Paris Agreement targets.’
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