The University of Edinburgh has transferred GBP60m of its investments into businesses that directly benefit the environment.
The money has been divided between two dedicated funds that will help support cleaner, sustainable and climate-friendly ventures.
One fund invests in companies that address sustainability issues, including the need for greener products and low-carbon infrastructure, or that address challenges in sourcing sustainable water, energy and food.
The second fund invests in a range of sustainably focused themes, including renewable technologies, directly supporting a global transition to low-carbon and renewable energy.
The move forms part of the University’s climate strategy and is a major step in its commitment to make a significant, sustainable, and socially responsible contribution to Scotland, the UK and the world.
In 2013, the University of Edinburgh was the first university in Europe to become a member of Principles for Responsible Investment. In 2015, the University signalled its intention to support the transition to a low-carbon economy with the aim of being carbon neutral by 2040. So far the University has invested more than GBP30m in low carbon technology on campus, and since 2010 it has attracted more than GBP50m of funding for climate-related research.
Phil McNaull, the University’s director of finance, explains, “Since we joined the Principles for Responsible Investment, we have updated our policies on fossil fuels, modern slavery, and sustainable supply chains. This is another major change to our investment fund – to selectively invest in funds making a more positive contribution to environmental sustainability.”
Recent Stories