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.
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.
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.
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.
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.