Working group to meet again in June to discuss fossil-fuel divestment

College reviewing partnerships in light of Imperial Zero Index.

Photo: Imperial Climate Action

by Jamie John
on 24 May 2024

in Issue 1848

An Imperial College London working group will reconvene in June to discuss divestment from all fossil fuel holdings, following a meeting that took place earlier this month.

The College's Socially Responsible Investment working group met on Friday 10^th May to discuss divestment from all fossil fuel holdings. Felix understands that the group has not yet come to a decision on whether to divest.

An Imperial College London spokesperson said the following:

‘The Socially Responsible Investment Working Group met to consider Imperial College Union's request to reconsider Imperial's Socially Responsible Investment Policy.

‘Since 2020, Imperial adopted the policy of disengaging from fossil fuel companies that are not demonstrably working towards meeting the Paris Agreement targets, and using its position to influence and 'engage for change'. This approach drew upon the research and contributions from leading Imperial colleagues, stakeholders, and independent experts.

‘The approach to engage for change means that we are evaluating all of our partnerships in light of the Imperial Zero Index. The Working Group will meet again in June to consider its response.’

Imperial has come under pressure to change its policy on investment in fossil fuel companies.

The university’s portfolio does not currently hold stakes in any fossil fuel companies, but its investment policy has come under fire because it does not preclude such holdings.

Two weeks ago leading scientists, including the co-director of Imperial’s climate research institute, joined student activists calling for policy change.

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