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King's College London Diverts Fossil Fuel Endowments To Clean Energy

by theguardian.com posted 1year ago 8941 views
King’s College London has endorsed a plan that would sink millions of its £179m endowment into clean energy, and drop investments in the most polluting fossil fuels. Archbishop Desmond Tutu, a King’s alumni, has previously intervened in the university’s refusal to divest from fossil fuels after a campaign by students. But on Wednesday a senior decision-making body of the university bowed to campaigners’ demands, and endorsed a new ethical investment policy that will end the fund’s exposure to tar sands and coal for producing electricity. King’s has an estimated £14.3-17.9m in fossil fuels, although it is not clear how much of that is in tar sands and thermal coal, which are extremely carbon intensive. The move is similar to one made by the Church of England last year.