The move, coming just weeks away from the UN COP26 climate conference in Glasgow, makes the university, which lies in the heart of Europe’s “oil and gas capital”, the 90th in the UK to commit to divestment.
A federal judge agreed with conservation groups that fracking and drilling will worsen air quality in a region where smog levels have exceeded federal pollution standards and threaten public health.
Going forward, BU will phase out any investments in companies that extract oil and natural gas. The University’s endowment, more than $3 billion, will not have any direct investments in fossil fuel companies.
There are currently 1,046 active wells, 637 idle wells, and 2,731 abandoned wells in unincorporated areas of the nation’s most populous county.
The Dutch Advertising Code Committee is ordering multinational oil and gas company, Shell, to stop ads that dubiously claim customers can make their fuel purchases “carbon neutral” by paying for carbon offsets.
President Bacow said the school’s endowment had no direct investments in fossil fuel exploration or development companies as of June and will not make such investments in the future.
Intesa’s exclusion covers all financial products and services, as well as advisory services, and applies to projects and companies involved in exploration, production, and pipeline transport of Amazon oil.
The world is officially rid of one particularly insidious fossil fuel that for decades was a major cause of public health problems in developing countries, especially in Africa.
Despite the country having a substantial amount of potential oil deposits, the government has stated that the country has ceased further exploration in an effort to combat climate change and focus on sustainable development.
Whatcom County’s council unanimously passed a measure that bans the construction of new refineries, coal-fired power plants and other fossil fuel-related infrastructure.
