Monash University's draft Environmental, Social and Governance statement has ruled out directly investing in fossil fuel production — currently about 10% of their investments — and commits to phase out indirect investments in coal production over the next 12 months.
While this is a great first step, the bad news is there is no mention of gas or oil.
The statement comes after more than a year of sustained pressure from staff and students for the university to divest from all fossil fuel investments and commit to completely ending their ties to the fossil fuel industry.
More than 500 higher education institutions worldwide, representing more than $3.4 trillion, have already committed to divest from fossil fuels.
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