UNSW divests from fossil fuels

UNSW
@FossilFreeUNSW

The University of New South Wales (UNSW) has announced it will divest from investment in fossil fuel companies from 2025.

The University says the move will add to its credentials as a world-leader on climate science, renewable energy and sustainability.

President and vice-chancellor professor Ian Jacobs, said UNSW’s divestment of fossil fuel assets in its investment portfolio supports its net zero emissions goal, in line with the Paris Agreement commitment to limit global warming to 1.5°C.

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“UNSW has a proud history of being at the forefront of climate science and renewable energy and there is a clear expectation from our community that we forge a leadership role on climate change,” Professor Jacobs said.

“Our divestment decision is a clear statement of UNSW’s responsible investment intent and the continuation of our long and impressive journey on climate action – it is worth remembering that more than 30 years ago, the solar cell technology which powers 50 per cent of solar panels around the world was developed right here at UNSW.”

Twitter users are this morning congratulating Fossil Free UNSW, a group comprising students, staff and alumni that has been campaigning for five years to make UNSW fossil free.

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