Imperial College London's endowment fund is investing heavily in fossil fuels. In 2016, Imperial College's direct investments in oil, coal and gas totalled over £5.4 million out of a £126 million endowment fund. At the moment, fossil fuel companies feature prominently in Imperial's own investment portfolio. Divestment is simple: the Divest Imperial group believe that a progressive, scientific institution like Imperial shouldn't be investing millions of pounds into any company with a track record for environmental damage and human rights violations. With nearly half of all universities in the UK having already committed to divest, Imperial risks being left in the dust.
Imperial College Union have divested its own fund in a democratic decision made last year at Union Council.
What can you do?
First of all, you can sign Divest Imperial's petition to show your support. What is the petition demanding? For Imperial College to immediately freeze any new investment in fossil fuel companies, divest from direct ownership and indirect investment in fossil fuels within five years and to implement a Responsible Investment Policy in line with the stated missions and aims of Imperial College London, with student and staff consultation. By removing its investments from fossil fuel companies, Imperial would be sending a strong message to the world about the importance of mitigating climate change.
Here's what Rhidian Thomas, Ethics & Environment Officer, had to say about Imperial's current stance:
As Ethics & Environment Officer, I spend a lot of my time campaigning for divestment in Imperial. Imperial says it's all about tackling 'global challenges'; in the face of one of the greatest challenges our climate has ever faced, we think that it's simply time Imperial put its money where its mouth is! I’m proud to be able to congratulate the Union for voting to divest its own fund in a landmark democratic decision. The Union’s shining example puts College to shame, and we think it’s about time Imperial got its act together; join us, and help clean up Imperial’s dirty act!
Convinced? Well what are you waiting for, you can sign the petition by simply clicking on the link below!
Divest Imperial is a grassroots campaign and everyone is welcome to get involved. To continue organising creative actions, hosting thought-provoking events, investigating and holding the College to account, and imagining a better university - we need you! Email us at firstname.lastname@example.org or click here to join the team.