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.

Like the article? Subscribe to Green Left now! You can also like us on Facebook and follow us on Twitter.

Become a Green Left supporter today and get the first month free!

Green Left aims to make all content available online, without paywalls. We rely on regular support and donations from readers like you.