Fossil fuels, including coal, oil and gas, are the largest contributor to climate change, contributing to over 75% of greenhouse gas emissions.
The university’s divestment not only demonstrates the commitment to net zero carbon by 2030 and to act on areas beyond direct carbon emissions, but also an active response to the demands from students and society. We are currently working in partnership with our investors to move the sustainability agenda forward.
For our long term and medium term investment portfolios, the university’s investment manager only works with external fund managers that meet their own high standards. This includes Environmental, Social and Governance (ESG) exclusionary screening and sustainability policies and ensuring that their sustainable investment strategies do not have any exposure, direct or indirect, to fossil fuels.
Louise Watson, Chief Finance Officer at the University of Greenwich said:
“A key component of the University of Greenwich's This Is Our Time strategy is our commitment to net zero carbon by 2030. To support this critical objective, we worked with our bankers to structure a Responsible Investment Policy which explicitly requires exclusion of investments in companies whose primary business is the extraction, purification, and storage of fossil fuels. This demonstrates the University's commitment beyond its core activities to support combating global climate change and ensures we don't invest money in companies that benefit from fossil fuel exploitation.”
Simon Goldsmith, Head of Sustainability at the University of Greenwich said:
"The University of Greenwich is strategically focused on delivering the solutions that a sustainable planet needs and we are proud of our commitments and actions to date. Responsibility for our carbon footprint does not stop at the energy we use to heat and power our campuses. We know we need to act on our wider areas of influence and this includes where we make financial investments. Our Investment Policy provides a clear message that we avoid investing in companies whose primary business is fossil fuels."
