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Australian National University staff call for end to fossil fuel investment

Tuesday, 15 Mar 2016 12:57:23

The group Fossil Free says the ANU invests about $43 million in fossil fuel assets. (ABC News: Niki Challis)

More than 450 academics and staff from the Australian National University have signed an open letter calling on the University Council to end investments in fossil fuels.

The letter calls on the university to investigate and disclose the ANU's investments in companies involved in fossil fuels, and to end current investments under a divestment regime by 2021.

ANU student group Fossil Free delivered the letter with the record number of staff signatures to the university's vice-chancellor Brian Schmidt.

Fossil Free spokeswoman and ANU student Zoe Neumayer said the university currently invests an estimated $43 million in fossil fuel assets.

"82 per cent of students voted in a referendum supporting fossil fuel divestment," she said.

"(We believe) the ANU needs to divest from fossil fuels in order to properly be a global climate leader."

The campaign is part of a national push across several campuses to stop the investment into fossil fuels by Australian universities.

In 2014, the ANU came under fire from members of the Liberal Party for its decision to divest itself of shares in companies like Santoa and lluka.

Vice-chancellor at the time Ian Young stood by the decision saying the call was in line with the stakeholders concerns.

But the recent appointment of vice-chancellor Professor Schmidt has given the campaign new impetus due to his strong stance on climate change.

Ms Neumayer said the divestment would not only help environmentally but would also help the university financially.

"From those previous two companies, ANU has saved billions of dollars from that divestment (in 2014)," she said.

"So it is incredibly financially important that they do so (now), as well as morally and ethically, so the ANU can be a global climate leader."

The open letter said the university currently has shares in Rio Tinto, BHP Billiton and Woodside.

The ANU has been contacted for comment.

AustraliaPlus


 

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