All eight Welsh Universities cut ties with fossil fuels industry

All eight Welsh universities have cut ties with the fossil fuels industry, following a landmark decision made by the University of South Wales (USW).

The decision has secured Wales as a global leader in striving for ethical investment in education.

USW’s choice to remove fossil fuel companies from its investment portfolio made it the final Welsh university to join the initiative. The university has also pledged to break from its association with companies involved in border security, detention, surveillance, and migrant deportation, setting a benchmark for ethical practices.

Speaking with The Pembrokeshire Herald, Rachel Elias-Lee, Chief Finance Officer at USW, said: “Our Ethical Investment Policy ensures we avoid investments in fossil fuels, arms, tobacco, and unethical industries. We are dedicated to achieving Net Zero Carbon by 2040, supporting renewable energy, and driving a low-carbon, sustainable future for all.”

Navid Sharif, Vice-President Activities at USW Students’ Union, added: “This milestone showcases what can be achieved when institutions listen to their communities. USW is leading the way, and we hope this inspires further progress across Wales and beyond.”

75 per cent of UK universities have now decided to stop their connections with the fossil fuel industry, according to student-led environmental justice network People & Planet.

Laura Clayson, Campaign Manager for Climate Justice at People & Planet, said: “This news is incredibly significant, particularly for a nation where fossil fuels have played a major role in shaping its history and landscape. It stands as an act of solidarity with frontline communities globally and in Wales, such as those affected by the now-closed Ffos-y-Fran open cast coal mine.”

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Students were at the forefront of this university-wide shift, securing 116 successful Fossil Free Campaigns and six Divest Borders Campaigns. Universities moving away from their links with the fossil fuel industry shows their willingness take accountability for climate action and their decision for ethical investments in sustainable futures.

André Dallas, Co-Director of Migrant Justice at People & Planet, added: “Students are clear that universities must stand for justice and progress, not only in their prospectuses but in their policies. Wales has turned its back on the fossil fuel industry—an extraordinary achievement.”

Cardiff University faced significant backlash in 2018 amongst university students, with some students partaking in hunger strikes to stand against fossil fuels taking up 4.5 per cent of its portfolio. However, following this, Cardiff University pledged to stop investing in fossil fuels by 2021.

In a media statement, Cardiff University announced “it is to stop investing in fossil fuels by 2021.

“The decision comes following a meeting of Cardiff University’s Council today [Tuesday 20th March, 2018] in which the University’s draft ethical investment policy was discussed.”

In the statement, Chair of Council, Professor Stuart Palmer, added: “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.”

Feature image credit: Google Maps