20th April 2020 Matthew Kayanja
Oxford University has passed a motion requiring its endowment fund to divest from all direct investments in fossil fuel companies, and end future investment in funds that primarily hold stock in fossil fuel companies. The motion further requires endowment managers to request evidence of plans to achieve net-zero carbon dioxide emissions from companies across Oxford’s entire portfolio of investments.
The preamble to the resolution hails it as a chance to put Oxford “in a strong position to act as a world leader on climate conscious investment” in partnership with “the best available research on climate conscious business practises.”
The resolution was passed by Congregation, a decision-making body of the university made up of 5500 academic staff, members of governing bodies of colleges and societies as well as senior research, computing, library and administrative staff. Members were given until noon on the 20th of April to oppose or amend the resolution before a meeting of Congregation on the 28th of April, but with no such action being given by this time via email or post the motion was duly passed.
An Oxford University spokesperson stated that the passing of the resolution was due to be announced by the university on Thursday 23rd April in the Oxford University Gazette, at which point the university would be giving a full statement, but The Oxford Student has exclusively been informed of its passage as of today.
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