The University of Edinburgh announced that it is divesting from fossil fuels, making them the largest UK university endowment fund to be free of coal, oil and gas holdings. Prior to this, in 2015, the university committed to divesting only from companies involved in coal and tar sands. This decision comes after a six year divestment campaign run by the university's People and Planet group.
The University of Edinburgh is the latest in a growing number of organisations that have committed to divesting from fossil fuels, demonstrating that companies can take decisive action to tackle climate change by re-evaluating their investment portfolio. If more organisations follow suit, will this impact the price of oil adversely? How is this likely to affect the renewable sector?