Energy

Cambridge University plans to stop fossil fuel investments by 2030

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The Bridge of Sighs at St. John’s College, University of Cambridge.

Andrew Holt | The Image Bank Unreleased | Getty Images

The University of Cambridge said it would aim to “divest from all direct and indirect investments in fossil fuels” by the year 2030.

In a statement outlining its plans, the British university said Thursday the £3.5 billion ($4.53 billion) Cambridge University Endowment Fund (CUEF) also intended to “ramp up investments in renewable energy as it divests from fossil fuels.”

The move is set to be staggered. Among other things, the CUEF will: “withdraw investments with conventional energy-focused public equity managers” by December of this year; develop “significant…



Source cnbc.com

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