Oxford University has confirmed it will not invest in coal and tar-sand companies.
The announcement comes after Oxford University Student Union’s (OUSU) campaign called for the institution to avoid investing in the coal and tar-sand industry.
Oxford University has a £2 billion fund, out of which 3% is invested in the energy sector including other fossil fuel companies.
Vice-Chancellor of Oxford University Professor Andrew Hamilton said: “Our investment managers take a long term view and take into account global risks, including climate change, when considering what investments to make.
“The University believes that approach to be the right one and today’s decision reinforces it by encouraging greater engagement and reporting on this crucial issue to the environment and all of society.”
Oxford University joins the University of London which cut ties with coal last week.