University of Washington to stop investing in fossil fuel companies in 5 years
The University of Washington board of regents on Thursday approved a resolution to begin exiting all direct investments in fossil fuel companies, with the goal of complete divestiture by fiscal year 2027.
Burning fossil fuels creates emissions that are the dominant cause of global warming, which experts say makes forest fires more likely and more severe. The regents' vote came one day before wildfire smoke moved into the Seattle metro area.
The UW joins at least around 1,550 institutions from around the world to commit to divesting from fossil fuels. This is according to a database maintained by advocacy organization Stand. Earth in partnership with the climate group 350.org. Among those who have committed to divesting are Harvard and Oxford universities, the Ford Foundation and the state of Maine.
In addition to complete divestiture by 2027, the UW committed to not renew indirect investments in funds primarily focusing on fossil-fuel extraction or reserves. The UW said both commitments include allowances for firms contributing to the transition to sustainable energy.
https://www.bizjournals.com/seattle/news/2022/09/09/uw-votes-halt-fossil-fuel-investments-5-years.html
= new reply since forum marked as read
