The University of Sheffield has renewed its commitment to sustainable investment by becoming a founding signatory of a declaration of climate expectations. This covers a series of climate commitments the University expects from companies managing their investments.
The declaration of climate expectations lays out the minimum climate expectations from the companies managing its investments (asset managers). This builds on the divestment work from fossil fuel shares in 2019 to increase climate consciousness throughout the university.
The declaration includes commitments including: that asset managers should achieve net zero emissions by at least 2050; they should actively seek investments to address climate change; all investment holdings, voting records and engagement activities must be disclosed by the asset managers, among others.
The aim is to ensure that the University’s investments are managed responsibly, with no shares held in companies involved in oil and gas production, the manufacture of armaments, tobacco production or non-pharmaceutical products that have been tested on animals for cosmetic or other non-medical purposes.
The initiative has been co-ordinated by Students Organising for Sustainability (SOS-UK) and Friends Provident Foundation, in partnership with the Charities Responsible Investment Network (CRIN) and Responsible Investment Network –Universities (RINU).
The full declaration, as well as the list of signatories, can be found at www.cop26declaration.uk.
Jo Jones, Chief Financial Officer at the University of Sheffield said: “We understand the damage the fossil fuel industry continues to do to our planet and we are committed to investing our funds in a socially responsible way
Anesu Matanda Mambingo, Welfare and Sustainability Officer at the University of Sheffield’s Students’ Union, said: “This declaration is another example of students being an integral driving force in our response to the climate crisis. Tireless campaigning from student groups has created a legacy of positive sustainable change at the University of Sheffield, including its divestment from fossil fuels.
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