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University of Auckland Council defers fossil fuel divestment
University of Auckland Council defers fossil fuel divestment, will ‘consider’ issue further
Yesterday afternoon the University of Auckland Council deferred making any decision on whether to divest the University Foundations from fossil fuel investments, but said that it will consider the issue further.
This occurred after student representatives on University Council brought the issue to the meeting, accompanied by a report showing how removing investments in the fossil fuel industry helps the University fulfil its strategic plan, as well as a petition signed by more than 2800 students, staff and alumni calling for full divestment.
“This is a sign of progress, albeit slow progress,” said Alex Johnston, spokesperson for Fossil Free UoA, a student group advocating for divestment.
“The opportunity is there for the University of Auckland to join benchmark universities such as Victoria University, Australian National University and London School of Economics by putting its money where its mouth is on climate change and divesting from fossil fuels.”
“There is much to gain by divesting and much to lose by not doing so. It will help fulfil the University’s Strategic Plan to be a sustainable university of international standing, but avoiding it puts the reputation of the University at risk.”
“We look forward to working with the administration to help the University of Auckland come out on the right side of history,” said Johnston.
More than 500 universities, pension funds, churches and city councils around the world have removed over $3.4 trillion in investments from industries that contribute to climate change so far. The petition for the University of Auckland to divest had support from prominent alumni such as former Green Party co-leader Jeanette Fitszimons and Ecostore CEO Malcolm Rands.
Rands said that “it is time for leaders to be…well, leaders. As one of the principal thought leaders in New Zealand I thoroughly support my old alma mater, the University of Auckland, doing the right thing and divesting from fossil fuels.”
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