Queensland University of Technology to divest from fossil fuel investments

QUT has agreed to divest from fossil fuels.

After a two-year campaign by students and staff, the Queensland University of Technology (QUT) Vice Chancellor Peter Coaldrake has committed to divest the university’s $300 million endowment fund of its shares in coal, oil and gas companies.

The move, announced on September 2, means QUT has joined three other Australian universities — Australian National University, La Trobe University and the University of Sydney — in a global divestment movement to withdraw support from industries fueling climate change.

It followed an open letter a year ago from more than 120 QUT academics urging the university to divest.

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