UK Universities Lead in Divesting from Fossil Fuels, but Europe Lags Behind

In recent years, universities across the UK have increasingly committed to divesting from fossil fuel companies, a move that follows years of campaigning by students and staff. Over three-quarters of UK universities have pledged to exclude oil and gas companies from their investment portfolios, with 115 out of 149 UK institutions publicly announcing their divestment. This is part of a broader effort by the “Fossil Free Universities” campaign, founded in 2013 by the student-led environmental group People & Planet. In Wales, all eight universities have now committed to severing ties with the fossil fuel industry, following a landmark decision by the University of South Wales.

Campaign Successes and Continued Funding from Fossil Fuel Giants

Despite these significant steps, investigations have revealed that UK universities continue to accept millions of euros in funding from fossil fuel companies. Between 2016 and 2023, 60 UK universities received at least €170 million from oil and gas giants such as Shell, BP, Petronas, and Total. Shell was the largest donor, contributing €62 million to British institutions during this period. This funding raises questions about the true commitment of these universities to cutting ties with the fossil fuel industry, as many continue to accept financial support from companies directly linked to the climate crisis.

The Power of Divestment and the Push for Ethical Investment

The divestment movement aims to sever financial and institutional ties with the fossil fuel sector, highlighting its harmful environmental and social impacts, particularly on communities directly affected by the climate crisis. Laura Clayson, Campaign Manager for Climate Justice at People & Planet, emphasized that these efforts are a direct act of solidarity with frontline communities fighting climate impacts. The ongoing push for divestment from fossil fuels is seen not only as an environmental imperative but also as a moral and ethical stand by universities to withdraw support from an industry contributing to the worsening climate crisis.

European Universities Remain Slow to Divest

While UK universities are making substantial progress, their counterparts across Europe have been slower to adopt similar policies. According to data from climate campaign group 350.org, only 15 universities in mainland Europe have committed to divesting from fossil fuels, out of 211 institutions globally. In Norway, for example, universities have continued to accept large sums from fossil fuel companies. Between 2016 and 2023, universities in Norway received €68 million from oil and gas firms, revealing a significant gap in the commitment to divestment across the continent.