University of Bristol divests from ‘most carbon intensive’ firms

  The University of Bristol has divested its investments in companies that derive more than 5% of their income from the “most carbon intensive” sectors of the fossil fuel industry. […]

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By Priyanka Shrestha
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The University of Bristol has divested its investments in companies that derive more than 5% of their income from the “most carbon intensive” sectors of the fossil fuel industry.

It has been working with Rathbone Greenbank Investments, which provides specialised ethical and sustainable investment services.

The announcement follows a pledge made last year to focus investments in the energy sector “to companies which are having the greatest impact on reducing carbon emissions”.

Robert Kerse, Chief Financial Officer at the university said: “Our aim was to end investment in companies that derive more than 5% of their turnover from the extraction of thermal coal or oil and gas from tar sands by January 2018.

“I am very pleased that we have achieved this aim which supports the university’s strong commitment to sustainability and fighting climate change.”

The university has also been actively managing the wider impact of the Endowment Fund investments on climate change.

It claims embedded carbon in fossil fuel reserves associated with the Fund’s investments have decreased by 78% over the last nine months.