Cambridge University announced on Monday (Mar 18) that it would cease funding from fossil fuel companies following pressure from students and academics. This decision was also influenced by a report from former UN climate change envoy Nigel Topping, who recommended abandoning donations from such groups.
The university officially adopted the moratorium on Friday (Mar 15) in line with its commitment to combat climate change by transitioning to a zero-carbon world.
According to Topping’s report, donations from fossil fuel groups constituted 5.1 percent of overall research and philanthropy funding. “Over the last six years, fossil fuel funding has averaged £3.3 million ($4.2 million) per year, accounting for 0.4 percent of research and philanthropy funding and 0.1 percent of total university income,” the report stated.
Cambridge University has set ambitious goals to achieve net-zero greenhouse gas emissions by 2038 and aims to divest from all direct and indirect investments in fossil fuels by 2030.
“The university has acknowledged the urgency of the climate emergency and has taken decisive action to demonstrate leadership,” noted the Topping report. This marks the first instance of a UK university refraining from funding from fossil fuel groups.
Previously, concerns had been raised about Cambridge’s relationships with energy companies like Shell and BP, with fears that they could influence research on climate change and the environmental impact of fossil fuels.
According to the Financial Times, British oil and gas giants Shell and BP collectively provided at least £19.7 million ($25 million) in philanthropic and research funding to the university between 2016 and 2023.
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