Over the past week the University of Central Lancashire, UCLan, has announced that it will no longer invest endowments in firms involved in the extraction and distribution of fossil fuels. This is a big part of UCLan’s commitment to sustainability and ethical investment, and the university’s third-party fund manager will also not be investing in firms involved with fossil fuel reserves or fossil fuel-related equipment and services. This includes a wide range of companies and businesses across the oil, gas and consumable fuels industry, as well as energy equipment and the diversified metals and mining industry.
George Charles, Chief Finance Officer said:
“Sustaining and enhancing the well-being of people, places and the planet are amongst the most important challenges we face today. We have made these aspects of our current strategic plan as we know our students, staff, and stakeholders are concerned about the social, environmental and sustainability impact we have on society. We have not invested in fossil fuels for the last few years, but officially announcing our divestment from fossil fuel companies is an important step.”
UCLan’s extended commitment to sustainability includes working on a decarbonisation plan to calculate how it can bring its net zero targets forward, as well as the MaCaW and Eco-I North West projects. These are aiming to provide in-depth support to local companies to reduce their carbon emissions, responsible procurement of goods and services, and initiatives to support sustainable travel.
To read the university’s Ethical Investment Policy, visit – https://www.uclan.ac.uk/assets/financial-information
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