We've done it! UCL will completely divest from Fossil Fuels by the end of the year.
At the October UCL Council Meeting, agreement was reached for UCL to completely divest from fossil fuels.
I am very happy to say that from the beginning of next year, UCL will not be invested in fossil fuel companies, nor will it be able to buy stocks from these companies in the future Carol, Democracy, Operations and Community Officer – Students’ Union UCL
Carol, along with the Union’s Education Officer, Ashley, made the case for complete divestment at the UCL Council on Tuesday 15 October. A key part of their argument was to ensure that UCL would not only divest from fossil fuels, but also be prohibited from re-investing in the future.
This milestone change began in 2013 when a policy was passed at a Students’ Union Council meeting - the policy-making body at the Union. The policy mandated the Union to campaign for UCL’s complete divestment from fossil fuel companies, defined as companies that derive more than 5% of their revenue from the extraction or refinement of fossil fuels.
The campaigning group Fossil Free UCL was established and have been active on campus making the case for divestment since 2013. Recently, Fossil Free UCL have been in discussions with the UCL Investments Committee to develop the Socially Responsible Investment policy.
In March 2018 UCL students showed their overwhelming support for the divestment campaign by making their voices heard in a referendum. 85% of students who voted called for UCL to completely divest from fossil fuels and 93% of voters called for UCL to be completely transparent about its investments in the future.
This change is a direct result of the hard work by members of Fossil Free UCL and the openness of the members of UCL's Investment Committee. Through discussions and partnerships between students and members of UCL Council, we have taken an important step to fight the climate crisis.
I personally believe that this change in policy represents UCL’s commitment to a sustainable future, in-line with their new bold sustainability strategy. This change helps to define UCL as a socially responsible university that is taking a stand on the biggest issue of our generation. Carol, Democracy, Operations and Community Officer – Students’ Union UCL
Got your own big idea (or a small one) and want to make change at UCL? Tell us.