Saturday, May 23, 2015

oxford alumni divest

In my recent feature on “25 years of climate change failure” I reported among other things the ongoing campaign of Oxford students to persuade the University to divest its massive £ 3.8 billion endowment from all fossil fuel investments.

After deferring the decision in March, the university’s governing body has last Monday chosen a path of the smallest possible action which, with a lot of good will, could be spun as “doing something”. Specifically, the university has asked its money people not to buy any investment in coal or tar sands in the future, as these are the dirtiest kinds of fossil fuels. As I understand it, the university doesn’t hold any such investments at the moment anyway, so it’s not divesting from anything, it’s just promising not to commit any major crimes against our climate in the future. (While they’re sorting out their ethics, maybe they could also pledge not to buy or sell any slaves?)

Nearly 70 Oxford alumni have now protested against this failure to act more decisively by handing back their degrees. The photos below are from a slightly improvised reverse degree ceremony held today outside the University Offices in Wellington Square (proper degree ceremonies are held at the Sheldonian Theatre hence the pun “Shelldonian”). The 59 degrees sent in beforehand were lined up at the start of the event, to which the nine participants added theirs in the course of the ceremony. At the end, the alumni successfully divested from the black stuff, namely the gowns and mortarboards.

Prominent alumni who have pledged to hand their degrees (although I’m not sure if they already have) include environmental campaigner George Monbiot and solar entrepreneur Jeremy Leggett.

All photos my own.

Further reading

Other reports on the university's decision:

Damian Carrington in the Guardian

Miriam Chapman on Fossil Free UK

Similar problems elsewhere:

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