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Cardiff University has announced it will to stop investing in fossil fuels by 2021.
The University was named as one of the top 100 universities in the world last year.
The decision follows a meeting of Cardiff University’s Council. During the meeting – which was held today – the University’s draft ethical investment policy was discussed.
Chair of Council, Professor Stuart Palmer, said: “Council members have listened to the concerns of staff and students and considered a range of views.
“Council has asked the Investment and Banking sub-committee to consider its wider ethical investment code as well as the issue of fossil fuel divestment.
“The move to full divestment aligns the University’s investment decisions with our values and aims, and reaffirms our commitment to environmental sustainability, responsible investment and social responsibility.
“We will act quickly to start the process and anticipate being free of investment in fossil fuel companies by 2021.”
Professor Colin Riordan, Vice-Chancellor of Cardiff University, added: “Environmental sustainability is a core value of our strategy The Way Forward 2018-23 and the decision to divest from fossil fuels is the latest milestone in our journey.
“Along with our pledge to phase out the use of single-use plastic by 2023 – as outlined in our strategy – the move to divestment sends a clear and positive message that we are committed to environmental sustainability and tackling climate change.
“I would like to thank all who have shared their views on this issue.”