As of last month, The University of Glasgow made a hugely significant political statement in committing to divest completely from fossil fuel companies. This means that it cut any financial ties or investments with the companies hell-bent on perusing financial gain at the expense of our planet. Glasgow was the first educational institution in Europe to do so, which led me to question if and when The University of Nottingham will follow suit.
Universities are organisations which supposedly invest in the future of young people: providing us with education and opportunities which will shape our lives. Therefore, from a moral perspective it seems skewed that such institutions do not take a stand against the use of damaging and unsustainable energy production which, if not stopped, will eventually destroy our planet for those of us who are left. There is no future for anyone if there isn’t a planet on which to live it.
There is no future for anyone if there isn’t a planet on which to live it
Furthermore, as a university which invests so much of its funds and efforts in scientific research, Nottingham should be at the forefront of the campaign for sustainable energy. Essentially, we should know better. In its Environmental and Social Justice Policy file, it states that ‘banks that fund new fossil fuel projects and exploration for fossil fuels are incompatible with UoNSU [University of Nottingham Students’ Union] stance on environmental issues.’
Many similar statements, expressing strong support for environmental development projects, follow in the manifesto. Yet, there is no explicit declaration that the university does not and will no longer invest any money in fossil fuel companies. Our university clearly has a good understanding of the importance of this issue but does it actually ever intend to, quite literally, put its money where its mouth is?
If enough businesses, local governments and universities divested from fossil fuel companies, it would send out a strong and unanimous message to world leaders
There are arguments against divestment which claim that it has little impact, as it does not damage fossil fuel companies financially; you are only moving your money from one uncaring, profit driven, multinational corporation to another. However, I think to focus on this is to miss the point entirely. If enough businesses, local governments and universities divested from fossil fuel companies, it would send out a strong and unanimous message to world leaders and, as a result, weaken the political power and control that these companies currently hold. The more that universities join Glasgow in the protest for cleaner, environmentally viable methods of energy production, the more momentum the movement will gain. It’s about drawing attention to an issue that is more easily ignored.
Climate change has been described by the United Nations as ‘an existential treat to human existence’
The question, then, in my opinion, isn’t whether The University of Nottingham should divest but maybe, how highly this objective should be prioritised. Climate change has been described by the United Nations as ‘an existential treat to human existence’. In his recent speech at the UN summit meeting on climate change, actor-come-environmental-activist, Leonardo DiCaprio pointed out that, “This disaster has grown beyond the choices that individuals make. This is now about our industries and governments around the world taking decisive, large scale action.”
Surely we should ask ourselves what is going to aid the students of Nottingham more in the long run: more variety of food in the Portland canteen; better sports facilities on University Park Campus; or a clean and healthy planet for us and our children to live on once our three short years here are over. The University of Nottingham should carefully consider where its priorities lie and act accordingly.
Maddie Waktare
Image courtesy of Pete Markham via Flickr
Will you join us in Nottingham on 14th February for Global Divestment Day?
Thousands will be closing their accounts with fossil fuel banks like HSBC, NatWest, and moving their money to bank with the greener alternatives. Doing this together will send those banks the divestment message. See the website for more info. Hope to see you!