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Cherwell investigation reveals stunning investments by Oxbridge colleges in fossil fuels, arms, and tax havens

Cherwell article may be found here.

OCJC Statement on the investigation:

We at OCJC dare to imagine our colleges banking on a just and livable planet. After all, their own Fellows churn out cutting-edge research on the climate crisis and the limits of burnable carbon. But one year after the leak of the Paradise Papers, The Cherwell has uncovered a scandal of stunning proportions: our Oxford colleges invest in offshore, untaxed funds, with links to fossil fuels and arms, to the tune of nearly £150 million.

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Students at New in particular have the rare opportunity to see in sharp detail what costs — environmental and human — the College have decided their education is worth. We can quantify the extent to which New has aligned itself with BP and its Deepwater Horizon spill, Shell’s destruction of the Niger Delta, and Lazoil’s 10 new oilfields in Iraq by directly investing in those schemes (£450k). At New and Hertford, £.2million and £1 million respectively have gone to Rolls Royce and Mitsubishi’s weapons initiatives. At Trinity College Cambridge, the college has poured £8.2 million into direct investments in companies included on the list of the corporations that generate 71% of the world’s carbon emissions — with £1.7 million going to Exxon Mobil. But the bigger picture is that New, Hertford, Trinity Cambridge, and the other colleges implicated have bought heavily into the wider Oxbridge project to generate financial growth at the expense of human communities near and far.

And yet, this new information is still only the tip of the iceberg: the majority of Oxbridge colleges refused to respond to the Cherwell’s Freedom of Information Act requests, along with Oxford University’s central endowment fund, OUEM. This defiant lack of transparency is a strategic effort, not a passive oversight, to keep public knowledge limited at a time when universities, governments, and pension funds worldwide are making commitments to invest in a world they want to see — and in particular, to divest from fossil fuels.

We will repeat what we said last year when the Paradise Papers were leaked by the Guardian and revealed a long chain of OUEM’s offshore investments, because little has changed. Evidently, the University is concerned with positioning itself as a leader in sustainability, but not with actively following through on its pledges and addressing the roots of the climate crisis. In 2015, Oxford agreed to a watered-down, partial divestment of coal and tar sands which moved £0. Oxford and many of its colleges manage their endowment like a corporation, seeking to maximize returns regardless of the social and environmental costs. The Cherwell and Paradise revelations are alarming and disappointing, but they are in line––unfortunately––with the current Oxford administration’s practice of denial and obfuscation towards its investments.

We want to be very clear: investing is the act of tying one’s future to the future of an industry or effort. We ask our colleges, now louder than ever, what it will take if two embarrassing media leaks, the 2015 Paris Agreement, the groundbreaking Oxford Martin Principles for Climate-Conscious Investment, and the 2018 IPCC report that gives us only 30 years to reach a carbon-neutral economy, aren’t enough. Must we wait until ecological collapse reaches Oxford’s backyard for our colleges and university to invest like it wants to last for another nine centuries?

We don’t think so, because we know it can be done. St. Hilda’s and Queen’s College Cambridge have implemented plans to divest their endowments entirely from corporations bent on deepening and profiting from climate change. These are not radical decisions, but practical and principled ones fit for an institution that claims to take social and intellectual advancement as its primary task.

OCJC supports 25+ college campaigns for divestment from fossil fuels and invites any concerned college members to get in touch on our Facebook page, or join your college campaign athttp://bit.ly/collegedivest.

Oxford City Council votes to support disinvestment of the £2bn Local Government Pension Scheme from fracking

Local environmental groups gather outside Town Hall to support the motion and draw attention to recently jailed anti-fracking protesters

Oxford — On Monday evening, Oxford City Councillors voted overwhelmingly to call upon the Oxfordshire Local Government Pension Scheme to disinvest from companies engaged in fracking. The proposal reaffirmed the Council’s opposition to investment in all fossil fuel companies, and recommended redirecting such investments to renewable energy initiatives. The motion passed with 38 votes for, none against, and two abstentions.

 

The motion, proposed by Councillor John Tanner and Councillor Richard Howlett, both of Labour, cited investments of £84 million, or 3.85% of the £2 billion County pension scheme, in companies which practice fracking. Fracking refers to hydraulic fracturing, an energy extraction technique in which highly pressurized fluids are injected into deep rock formations, creating cracks into which oil or gas can flow. In the U.K., most fracking efforts target shale gas. The technique’s environmental risks inspired a national moratorium on fracking, (overturned recently), and mass protests at drilling sites.

 

The motion noted that the Oxfordshire Local Government Pension Scheme provides pensions not only for the City Council officers and certain staff, but also for the staff of 200 other employers in the county. The Pension Fund Committee has recognised in its Investment Strategy Statement that climate change poses a material risk to the fund, but has so far resisted calls to divest from fossil fuels.

 

Councillor Howlett expressed disappointment in the Local Government Pension Scheme’s continued fossil fuel investments, saying, “Council Pension funds should be going to support clean fossil-free energy which will secure a good return for members and help tackle climate change.”

 

Councillor Craig Simmons, Green Party member and leader of the Council’s Green Group, who previously worked on City Council divestment, called for greater understanding between Oxford City Council and Oxfordshire County Council. He explained, “When Chair of the Finance Panel, I worked with campaigners to ensure that the City Council divested from any direct investment in fossil fuels. The County Council needs to respect the wishes of the City Council and change its pension fund portfolio. At a time when we should  be reducing our dependence on fossil fuels, to invest in new forms of extraction is tragically irresponsible.”

 

Just before the start of the meeting at 5pm, community members and campaigners gathered at the Town Hall to express their own support for the vote and to thank Councillors supportive of the motion.

 

Fossil Free Oxfordshire, a local group that called for the gathering jointly with the Oxford Uni Climate Justice Campaign, has been campaigning since 2013 for the Local Government Pension Scheme to divest from fossil fuels. Campaigner Al Chisholm said, “In 2014 Oxford City Council became the first Local Authority in the UK to introduce a fossil fuel divestment policy. However, Oxfordshire County Council manages the pension fund and they are slow to recognise that taking money out of fossil fuels is the right thing – and indeed the financially wise thing – to do.”

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Both the Councillors proposing the motion and the campaigners said the vote represents solidarity with the three environmental activists who were imprisoned last week for their involvement in a peaceful protest at a fracking site Lancashire. Councillor Howlett also referenced the national government’s recent proposal to recategorise fracking sites as Permitted Development for which fracking companies would not need local planning permission, calling the change of status “an assault on local democracy.” He said, “Now more than ever we must stand with those fighting for a fracking free future.”

 

Senior figures from the City Council, as well as local MPs Anneliese Dodds and Layla Moran, have previously called on the Pension Fund to divest from fossil fuels, but so far the transfer of assets to more sustainable funds has not been forthcoming.

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Summer Recap: Meghan Fights Pipelines in the U.S.

We’re featuring a few OCJC members who spent their summers working for climate justice. Meghan Shea of Green Templeton College went back home to Pennsylvania, USA to work for her state senator on current legislation resisting fracking in her community. Screen Shot 2018-09-23 at 5.29.12 PM.png

I’m Pennsylvanian, born and raised, but although I live not too far from the Marcellus Shale, one of the largest natural gas fields in the world, I grew up blissfully unaffected by the extractive industry operating in my home state.

 

However, several years ago, a large pipeline project began encroaching on my home county. The Mariner East project is repurposing and building several large pipelines to bring natural gas liquids (like ethane, butane, propane — all byproducts of natural gas fracking) from the Marcellus Shale areas to port, where they can be shipped overseas to make plastics. Transporting natural gas liquids is not very well-regulated in the United States (even less so than natural gas pipelines!), and because of the complicated jurisdiction of the federal government versus state agencies, this project was able to be approved with very little oversight — and approved to travel through the most densely populated area of my county. This project runs directly adjacent to the public library where I got all my books as a child. It puts pipelines within 300 meters of schools and senior living facilities, and through the backyards of many families in the area where I grew up. And, the Mariner East project represents one of the first times in the United States that a pipeline carrying these particularly dangerous materials crosses highly-populated areas.

 

Mariner East has all the elements of a proper pipeline drama. It’s owned by Energy Transfer Partners (of DAPL infamy). The Pennsylvania Department of Environmental Protection has issued over 80 (!!!!!!) notices of violation, indicating that construction has damaged the local environment, over the past two years, resulting in a landmark $12.6 million civil penalty being issued to the company. Activists have been aggressively surveilled, arrested, and jailed. Various states agencies have halted pipelines construction, only to allow it to re-start again. Pipeline segments have had to be removed because of defects, private water wells near the pipeline have been rendered undrinkable, and sinkholes have appeared along the route. And citizens have banded together to fund risk assessments, file lawsuits, and protest the project.

 

I could talk on and on about the intricacies of the Mariner East project, but for the past two summers, I’ve been able to take action, albeit within the system rather than outside of it. Working in my state senator’s office in my hometown, I’ve been researching how other states better regulate their pipelines, drafting potential pipeline legislation, and helping to communicate this incredibly complex social and environmental issue to the public in my district. My state senator just introduced a new bill to create more stringent regulations for how pipeline companies must communicate with school districts along the route — a bill that I helped research and propose. It’s a minuscule effort to hold pipeline companies accountable, but it’s a part of the shift that citizens, environmental groups, and lawmakers in Pennsylvania are hoping to catalyze away from prioritizing the extractive industry and toward protecting our citizens and environment.

 

Working within the political system can feel incredibly disheartening. There are bills I feel so strongly about that may never get introduced, and even then, may never get passed into law. Despite the best efforts of my state senator and countless others, the Mariner East project is nearing completion, and there are many other pipeline projects racing for approval in Pennsylvania. Even the little incremental victories–the construction halts and new legislation passed and raised awareness–may not be enough to stop the continued expansion of the extractive industry in my home state and beyond.

 

But at the same time, there’s something so invigorating about seeing my community begin to mobilize around this cause — seeing people once apathetic about environmental justice issues researching federal regulations and filing lawsuits and holding their politicians accountable and monitoring pipeline construction. Even though the Mariner East project was able to escape notice until construction was already underway, my community is watching now and won’t be caught unaware again.

Summer Recap: Naomi Goes to PowerShift

We’re featuring a few OCJC members who spent their summers working for climate justice. Naomi Miall of Wadham College went to People & Planet’s Power Shift: Training for Change camp in Manchester — and lived to tell the story!

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Sitting on a train to Manchester, still nursing my Prelim wounds, I was completely unaware of what a magical week was in store for me.  I was en route to PowerShift, an annual student activism festival run by People and Planet.

People and Planet is a student network that supports student campaigns across the UK by running training sessions (such as PowerShift) and connecting campaigns. They currently focus on four campaigns: Fossil Free and Divest Barclays (calling UK universities and Barclays to divest); Sweatshop Free (calling Universities to join Electronics Watch which tracks the working conditions under companies supplying technology); and Undoing Borders (aiming to shift the narrative around refugees and asylum seekers in the media).power shift.png

Each day had a theme based around one of the campaigns run by People and Planet. The first was Fossil Free. Having been involved in OCJC, this was the campaign I knew the most about. It was very encouraging to speak to those involved in the successful campaigns at other Unis. Each day we discussed the campaign’s context, current progress and then planned for the future of the campaign. Interspersing these were a series of workshops on campaign strategy. I think the most valuable that I attended was on organising collectively where we discussed how to achieve leader-ful groups without resorting to hierarchy, and tools for participatory decision making and facilitation (we shared tips from each of our meetings and I was proud that our practice of having a Victory Officer to keep track of achievements was given much praise). Another very powerful workshop was on direct action, where we practiced a lock-on with some exciting props, discussed the access and emotional aspects of actions, and our favourite direct actions. One of the most memorable conversations I had was in appreciation of the Black Panthers’ action delivering hot meals and medical care free to children of colour – showing actions do not need to be dangerous or glamourous to be powerful.

As well as workshops a highlight was a panel discussion on solidarity in the student movement. This discussed what solidarity is (recognition of a shared oppression) and how important it is to have an awareness of the legacy of our campaigns. Climate crisis and other injustices in society are like an enormous block of marble, and our group has chosen to chip away at one part to shape, say a toe of the statue representing the society we want to reveal underneath. This is crucial — but we must not forget that we are part of a network of many other groups all with slightly different methods or priorities, all of which are necessary to build the statue.

People and Planet’s great strength lies in providing a network for some of these groups to have better communication and learn from each other. This was a big focus of the week, with workshops being facilitated by various participants and an emphasis on conversation and reflection. There were about 150 students present from Universities all over the UK, but also Europe with many coming from Ireland and Barcelona, even as far as Hong Kong. It was the first time I have been able to attend something with students from so many different Universities, and from such a range of courses and ages. I met some hugely inspiring people and it was amazing to share stories of our campaigns and experiences. This sharing is so crucial for keeping motivated and I learnt so much from it.

We ended with an action outside Samsung in Manchester, a company which does not currently allow its factory workers to Unionise.

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I really cannot recommend PowerShift enough! Although it would be worth it just for the workshops, it has so much more going for it too! Most camped (although dorm beds were also available), but this was very luxurious camping. We were set up in a field outside of Manchester and were lucky to have spectacular weather and a stunning full moon. The food was heavenly – all vegan and each meal using the leftovers from the last in really creative ways. I have never before, and doubt I will ever again, had such exquisite porridge or homemade pesto or flapjacks. Food is all cooked by just two chefs, but everyone takes a turn preparing veg or washing up for a few hours. Alongside the workshops there were organised activities. One evening was a screening of Power Trip, documenting the resistance movement to fracking in Lancashire – particularly powerful as whilst we were watching, 40 miles away an amazing 48-hour blockade of the same fracking site was underway (Shout-out to the members of OCJC involved!!). We also had morning yoga, a ceilidh (with a live band), and most memorably a talent show featuring truly spectacular stand-up, poetry, music, dance, story-telling. Every time I think back to that night I get shivers at how incredible and creative humans are. To top it all there was a pop-up bar and campfire every evening.

As next summer is much too long to wait for the next PowerShift, in autumn People and Planet organise a similar but smaller scale set of trainings in each region. The meeting for the South East will be held in the University of Surrey on the 16-18 November. If anyone is interested in attending contact People and Planet (universities@peopleandplanet.org). I am hoping to go too so we could make an Oxford clan. My contact is Naomi.miall@wadham.ox.ac.uk if you want to talk about it.

My thanks to OUSU who funded my ticket to such a powerful event.

 

 

ACTION REQUIRED: Send a letter to the Vice Chancellor!

Calling all students, alumni, staff, and faculty of Oxford University:

We have a task for youOxford’s Vice Chancellor Louise Richardson recently told us that she wasn’t aware that there was a campaign for full divestment, or that students still cared about the University’s role in a changing climate.

We invite anyone who is connected to Oxford to share a brief note on your experience of climate change and/or how you think Oxford should respond to it.

Email us your letter, or fill out this quick form.


We will be delivering a stack of letters to her on May 22, as we reiterate our demand that the university cease investing in climate injustice.

We hope you’ll add your voice to make clear that the Oxford community takes climate change and climate action seriously.     

You can also write a letter in person! We’ll be outside the Radcliffe Camera (with paper, pens, and cookies!) on Thursday, May 17 and Friday, May 18 from 12-2PM.

Divestment Takes Center Stage at #BoatRace2018

The world was watching Oxbridge at the #Boatrace2018 on Saturday, March 24, so we took action to communicate an urgent truth: Oxford and Cambridge have millions of pounds invested in fossil fuels, tying their futures to climactic destruction and injustice. We dropped a giant #OXBRIDGE DIVEST banner and released orange smoke to remind the thousands of spectators in London and around the globe—especially our university administrators—that time is running out. Oxford and Cambridge, will you continue to endorse climate change or will you divest?

The action has been covered in fifty seven media outlets to date! We hope that the University of Oxford saw all the coverage of the action in The Independent, The Times, The Telegraph, The Guardian, The Mirror, The Evening Standard, and many many more.

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BREAKING: Paradise Papers Reveal Oxford’s Offshore Investments

Yesterday, The Guardian broke a story from leaked Paradise Papers revealing that Oxford University and sixteen Oxford colleges are secretly invested in offshore, untaxed funds that finance projects from fossil fuel exploration technology to rent-to-buy retail schemes that prey on the U.K.’s lowest-earning people. The Oxford University Climate Justice Campaign condemns these investments and the larger Oxbridge project to generate financial growth at the expense of human communities near and far.

Shame on Oxford for its investment in deep-sea oil exploration and infrastructure, as it produces cutting-edge research on the climate crisis and limits of burnable carbon. Shame on Oxford for evading taxes in pursuit of maximum profit, as it claims to train the leaders of tomorrow in ethics, governance, and democratic principles and espouses a commitment to social mobility. Shame on Oxford for lying to its students, faculty, and the world, as the Vice Chancellor proclaims her support for the Paris Agreement’s goal of limiting warming to 1.5ºC and promises to reach that goal through “stewardship” of the University’s massive endowment. This is only more appalling in the context of increasing tuition fees and the scrapping of crucial maintenance grants, which have individualised the costs of higher education and shut out students from lower-income backgrounds.

Evidently, the University is concerned with positioning itself as a leader in sustainability, but not with actively following through on its pledges and addressing the roots of the climate crisis. In 2015, Oxford agreed to a watered-down, partial divestment of coal and tar sands which moved £0. Oxford manages its £5 billion endowment like a corporation, seeking to maximize returns regardless of the social and environmental costs. The Paradise Papers revelation is shocking and infuriating, but it is in line—unfortunately—with the current Oxford administration’s practices of denial and obfuscation and the University’s colonial, exploitative history.

The Papers unveil a complex string of investments that begin here at Oxford—most significantly, flowing from university workers’ pension funds (Universities Superannuation Scheme)—and end in fossil fuel extractive projects from the Texas Gulf Coast to Nigeria to Malaysia. Along the way, millions of Oxford’s pounds were invested in Royal Dutch Shell by way of Coller International, a private equity firm based in the Channel island of Guernsey and the recipient of £2.6m from the University and its colleges. Oxford’s funds helped Royal Dutch Shell develop projects like the Shell Technology Ventures Fund, which invests in fossil fuel “production and exploration technologies” that probe former colonies like Nigeria and Malaysia for their natural resources.

The ultimate result is untold quantities of untaxed dividends for Oxford, and a continuation of its legacy of exploring the planet with the intention of exploiting. Our expectation of the educational institution that claims to be the greatest in the world is simple: act in the interest of the planet and the people. Let’s envision a University that invests the pension funds of faculty and staff and its endowment in cooperatively-owned renewable energy (these projects exist around Oxford!) and other companies that are building a sustainable future for communities around the globe.

The Oxford Climate Justice Campaign calls for immediate change. We demand a university that pays its taxes. We demand divestment from all secret, offshore funds and transparency about where our endowment is invested. We demand full fossil fuel divestment. We demand that students be included in these investment conversations—and that we are listened to.

Dear Pope Francis: support Divestment!

At the time of posting, over 80 divestment organisations have signed this letter to Pope Francis! It calls on him to support the divestment movement and to Divest the Vatican, in light of his groundbreaking encyclical on the environment.

Most Holy Father,

We write to you as young people, as constituents of Jesuit institutions, other Catholic, Christian, and religious institutions, and non-religious institutions as people of goodwill, on behalf of an entire generation. We are standing on the precipice of climate catastrophe. Since the release of your encyclical “Laudato Si” in June, we have been inspired by your call for climate justice and the awakening of the Catholic and global community to the systemic causes of the climate crisis.

We have resonated with your criticism of the lack of response from our politicians and leaders in addressing climate change. St. Ignatius of Loyola urged us to see God in all things. Regrettably, many of our leaders are overlooking this important lesson.  It is remarkable how weak international political responses have been. The message that we are getting out to the world through our fossil fuel divestment work echoes your observation that “The failure of global summits on the environment make it plain that our politics are subject to technology and finance. There are too many special interests, and economic interests easily end up trumping the common good and manipulating information so that their own plans will not be affected.” We wholeheartedly agree with your analysis, Holy Father, and we see divestment as a means to strip fossil fuel special interests of their political power, which thus far has helped in blocking meaningful climate legislation to come to fruition. As you have taught, highly polluting fossil fuels must be replaced without delay, and that cannot happen while these interests have control of our political processes.

Additionally, fossil fuel divestment proclaims, as you did at the Second World Meeting of Popular Movements, that “there is an invisible thread joining every one of [the many forms of exclusion and injustice].” You asked: “Can we recognize it? These are not isolated issues. I wonder whether we can see that these destructive realities are part of a system which has become global. Do we realize that that system has imposed the mentality of profit at any price, with no concern for social exclusion or the destruction of nature?”

We answer yes. All around us, we see the frightening consequences of an extractive capitalist economy, colonialism, systemic racism, and other forms of injustice. Divestment as a tactic is pivotal to the climate justice movement in that it forces us to think of issues with intersectionality on a global scale. One can not truly address the climate crisis and environmental injustice issues without dismantling the larger system which allows these things to continue. By calling on our institutions to divest their endowments from fossil fuel companies, and reinvest those funds into renewable technology and into those communities which have been marginalized, we force dialogue on climate change in terms of a global system urgently in need of an overhaul.

Despite the colossal challenges that face our young generation, we have hope in the future and are fighting to secure a world for ourselves in which a just and stable future is possible. We have been inspired and invigorated by your witness to the Gospel, and your calls for real, structural change. We highly anticipate your September visit to the United States and the furthering of the conversation surrounding the changes that we urgently need. During your visit, we ask that you call on our universities, along with other institutions, to divest from fossil fuels. Some of America’s largest Catholic organizations still have millions of dollars invested in heavily polluting fossil fuel companies. Within a few years, this remarkably fast-growing movement has reached some incredible milestones, but unfortunately many of our own educational institutions, which cite Christian values, are ignoring your call for climate justice by refusing to divest. Additionally, we ask that you continue efforts to divest your own “campus,” as The Vatican has an equal responsibility as our universities and institutions to cut ties with the fossil fuel industry. We wholeheartedly believe in the Catholic values of stewardship for the Earth and for oppressed people, and we are offering our institutions the chance to live out these values as well. We are doing all that we can, but we need your help so that together we can take part in the “globalization of hope.”
We thank you again for your love and your leadership, Holy Father.

As young people for a just world,

(Click here to sign on behalf of your group)

Climate Justice at Boston College

Boston College Alumni for Divestment

Fossil Free LMU, Loyola Marymount University

Tufts Climate Action, Tufts University

Saint Mary’s College Sustainability Committee

Swarthmore Mountain Justice

Bowdoin Climate Action

Maine Students for Climate Justice

University of New Hampshire’s Student Environmental Action Coalition

Divest Central Michigan University

Student Environmental Alliance at Central Michigan University

Take Back the Tap at Central Michigan University

Divest Chico State

Fossil Free Caltech (Teachers for a Sustainable Future)

Fossil Free UCLA at University of California, Los Angeles

Fossil Free University of Tasmania, Australia

Fossil Free Monash University, Australia

Fossil Free RMIT, Melbourne, Australia

Boston University Students for a Just and Stable Future

Fossil Free San Francisco State University

Fossil Free MIT, Massachusetts Institute of Technology

DivestNOW! Cornell, Cornell University

Fossil Free NAU, Northern Arizona University

Fossil Free Lesley, Lesley University

Divest Carleton, Carleton College

Southwest Divestment Network, Divestment Student Network

DivestNU, Northeastern University

Fossil Free AppState, Appalachian State University

Fossil Free Reed College Alumni

People and Planet, Fossil Free UK, United Kingdom

Go Fossil Free Washington State University

Colorado College Student Divestment Committee

Go Fossil Free Ball State

Divest Barnard from Fossil Fuels

Divest Dartmouth, Dartmouth College

Fossil Free Lakehead, Lakehead University

Divest University of Washington

Fossil Free ND, University of Notre Dame

Fossil Free Warwick University, UK

Pacific University: Go Fossil Free

Fossil Free Cal, UC Berkeley

Fossil Free UC, University of California

DivestPBurgh, State University of New York at Plattsburgh

Go Fossil Free SBCC, Santa Barbara City College, California

Divest DU, University of Denver, Colorado

Green Jays at Creighton University

Fossil Free NU, Northwestern University

Columbia Divest for Climate Justice, Columbia University

Sierra Student Coalition, University of North Carolina at Chapel Hill

Fossil Free UCSC, University of California Santa Cruz

Divest Stonehill, Stonehill College

Stonehill College, Students for Environmental Action

New Progressive Alliance

University of Southern Maine: Go Fossil Free!

Fossil Free Yale

Divest VicSuper, Melbourne, Australia

Divest JC, Juniata College

Go Fossil Free, Penn State

Fossil Free University of Queensland

Divest James Cook University

Divest WNEU, Western New England University

Oxford University Fossil Free, UK

Brandeis Climate Justice

Hamilton Divests, Hamilton College

Fossil Free MU, University of Melbourne

350.org Australia

Fossil Free WashU, Washington University in St. Louis

Fossil Free Griffith University

Divest Tulane

Fossil Free ANU, Australian National University

Operation Noah

Climate Action 350-UW (University of Wisconsin-Madison)

350 Madison Climate Action Team

University of Iowa: Go Fossil Free

Oberlin Students for Divestment

Fossil Free Queensland University of Technology

Clarkson University Sustainable Synergy

Students United for Socioeconomic Justice, University of Texas at San Antonio
University of Illinois at Urbana-Champaign Beyond Coal

Climate Action Society at the University of Virginia

Student Environmental Alliance at Loyola University Chicago

Divest JMU, James Madison University

BREAKING: OXFORD UNIVERSITY REJECTS COALS AND TAR SANDS INVESTMENTS

In a statement just released by University Council, Oxford has committed not to invest in coal and tar sands fuel:

“Council encourages OUem (Oxford Endowment Management) to maintain its rigorous assessment of potential investments across a number of risk criteria, particularly social and environmental impacts, alongside other investment criteria. Council recognises that OUem’s Governance Policy is designed to avoid investment in sectors with the highest environmental and social risks, leading to its present situation of no direct holdings in coal and oil sands companies – one of the key points in the OUSU representation. Council has asked OUem to maintain this position and avoid any future direct investments in coal and oil sands.”

The full statement can be read here: http://www.ox.ac.uk/news-and-events/fossil-fuel-divestment

THE PRESS RELEASE ON THE DECISION CAN BE READ HERE: http://350.org/press-release/oxford-university-takes-a-moral-stand-on-coal-and-tar-sands/