UNSW to divest from fossil fuels

5 March 2020
| By Laura Dew |
image
image
expand image

University of New South Wales (UNSW) Sydney has indicated its responsible investment intent by moving away from investment in fossil fuels.

The organisation will divest from direct ownership and any co-mingled funds that include equities and corporate bonds of companies who own or exploit fossil fuel reserves by 2025.

President and Vice-Chancellor Professor Ian Jacobs said there had been a ‘clear expectation’ from the UNSW community that it focused on climate change.

“Our divestment decision is a clear statement of UNSW’s responsible investment intent and the continuation of our long and impressive journey on climate action – it is worth remembering that more than 30 years ago, the solar cell technology which powers 50% of solar panels around the world was developed right here at UNSW.”

Other climate action initiatives from the University included its leadership of the ARC Centre for Climate Extremes which was working on making the Sydney campus powered by emission-free energy in the near future.

“The University’s environmental sustainability initiatives extend to the design of all new buildings at UNSW, energy, water and waste management on campus, and working to eliminate single-use plastics in food service,” Professor Jacobs said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 3 days ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 1 day ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

2 weeks 5 days ago