Press release – 8 February, 2015Sydney, 09 February 2015: Greenpeace welcomes today’s announcement by the University of Sydney to reduce the carbon intensity of its investments, but calls on the University to disclose the full details of its policy and move decisively away from all fossil fuel stocks.“The University of Sydney has taken an important step in the fight against dangerous climate change. However, the devil is in the detail. The University must declare which companies will be affected if its policy is to be credible,” said Greenpeace Climate and Energy Campaigner Nikola Casule.
“We know that to avoid the worst effects of dangerous climate change we must keep 80% of fossil fuel reserves in the ground. Yet, based on the details announced so far, the University of Sydney’s policy could still allow for investments in dirty coal mining companies like Whitehaven Coal.”
The University has committed to reducing the carbon footprint of its investments by 20% within 3 years by divesting from heavy polluters. The announcement comes after Greenpeace,
350.org
and Fossil Free USYD campaigns led the University to announce a review of its investments.
“Coal mining threatens to destroy global treasures like the Great Barrier Reef and we do not have the time for half-measures. Universities like Glasgow University have already sold all their shares in polluting fossil fuel companies and there’s no reason why Australian universities cannot do the same,” said Casule.
This weekend, thousands of people around the world will join
Global Divestment Day
rallies, urging big investors like Sydney University to divest from polluting fossil fuel companies.
In 2014, Greenpeace activists built a mock mine-site on the University of Sydney campus to highlight the
University’s $1 million stake in the controversial company, Whitehaven Coal.
For interviews or more information, contact:
Elsa Evers 0438 204 041 or Nikola Casule, 0428 769 307
For photos of Greenpeace’s mock mine-site on Sydney Uni campus, go to:
http://www.greenpeacemedia.org/
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