University of Liverpool to sell fossil fuel investments
The University of Liverpool has agreed to stop investing in fossil fuel companies after students accused it of "profiting off the climate crisis".
The university has approved plans to sell its remaining £2.8m holdings in fossil fuel businesses by July 2022.
Student leaders said they were thrilled the university has agreed "to divest from this dirty industry".
The decision was linked to a "greater awareness of the impact of climate change," a university spokesman said.
The move follows a two-year campaign by the Liverpool Guild of Students.
"Fossil fuel companies have repeatedly abused the human rights of communities on the frontlines of fossil fuel extraction and led us into the climate crisis we are facing," said Deputy President Hannah Nguyen.
"Full divestment is a huge win for the Fossil Free movement, and it's all down to student activists at Liverpool who have campaigned tirelessly."
As of 31 July 2018, the university held £9m worth of investments in fossil fuel companies including BP, Shell and Exxon Mobil, according to the network of campaign groups People and Planet.
The decision to fully divest from fossil fuels follows the introduction of the university's ethical investment policy last year and is a direct result of lobbying by the guild, a spokesman said.
This exclusion will now cover all companies with significant revenues from fossil fuel extraction.