Trinity Hall outlines plan to partially divest from fossil fuels
They plan to divest from direct fossil fuel extraction over a period of six months
Yesterday Trinity Hall formally outlined their revised investment policy, in which the college committed to remove all investments from any company involved in fossil fuel extraction over a period of six months.
The policy also prohibits the college from making any future investments in companies that contradict the fulfillment of their “charitable mission” to reduce carbon emissions.
The plan additionally outlined aims to “substantially reduce” any indirect holdings that the college has in companies involved in the fossil fuel industry over a five year period.
Trinity Hall’s ambitious divestment commitment: https://t.co/RG4m103Err
— Trinity Hall (@TrinityHallCamb) November 12, 2020
In a statement uploaded to their college website, Chair of the Finance Committee, Professor Simon Guest, says that “at a time when environmental and social matters are becoming increasingly important in investment decisions, I’m pleased that we have taken a clear position on fossil fuel extraction.”
The college was previously ranked 28th out of the 32 institutions in Cambridge (the 31 colleges and the University as a whole) in a “full divestment ethical ranking” by Extinction Rebellion Cambridge. On this list, Trinity College ranked last, at 32, and Queen’s College ranked first, being labelled the most environmentally friendly college in Cambridge.
Of these new plans to partially divest, Professor Simon Guest, Chair of the college’s Finance Committee, said: “Trinity Hall has been very successful with its investment policy over recent decades, but we have not been explicit about our underlying investment philosophy. I am very grateful that our new Bursar, Tim Harvey-Samuel, has taken the opportunity to revise and communicate our strategy.
“At a time when environmental and social matters are becoming increasingly important in investment decisions, I’m pleased that we have taken a clear position on fossil fuel extraction.”
Numerous other colleges have pledged to make similar changes with fossil fuel investments. Among them are Queen’s, Christ’s, Lucy Cavendish and Clare Hall. There has still been no firm decision from Jesus College which is under increasing pressure from their student and teaching body to make plans to fully divest.
Trinity Hall now joins nine other colleges, such as St. John’s and Downing, with a promise to partially divest from fossil fuels.