UK universities urged to pull cash from fossil fuel giants

Anti-carbon divestment campaign targets £5bn of British funds

Damian Carrington: The Observer, Sunday 27 October 2013 08.25 AEST

An international campaign to urge large institutions to dump fossil fuel investments reaches the UK this week, following rapid success in the US.

The year-old divestment campaign, Fossil Free, has grown even faster than similar efforts that once targeted apartheid, tobacco and arms manufacturers. It now aims to focus attention on the £5bn invested in coal, oil and gas by the endowment funds of UK universities. The move comes as financial giants such as HSBC, Deutsche Bank and Goldman Sachs are starting to take seriously the prospect that global action to reduce carbon emissions could leave two-thirds of the world's proven fossil fuel reserves unburnable and worthless. (... article continues ...)

Read whole article here: http://www.theguardian.com/environment/2013/oct/27/fossil-fuel-divestment-campaign-uk