**Update** Oxbridge Demands Review of Policies, Not A Blanket Drop of Fossil Fuels
Since the writing of the original post, an official ‘launch’ of the Oxbridge joint statement took place in London, where Lord Deben made some very key clarifications about his position on fossil fuel divestment following misreporting by The Independent. As we uncovered in our post, the statements do not call for blanket divestment from fossil fuels; in fact, Lord Deben clarifies that he and the other 300 academics are supportive of the opposite: active investment. In his own words, as reported by BusinessGreen:
“This document doesn’t call for disinvestment – it calls for active investment. Disinvestment, in my view, is an action which I understand, but it’s a [Donald] Trump-like action. It says ‘I’m going to avoid being associated with the things I don’t like. I will not go to try to change the things I don’t like.’”
The piece continues:
“He advocated not banning investment in fossil fuel companies altogether but choosing to invest in companies that are actively working to transition away from the fuels of the past and embrace the fuels of the future. ‘We should be investing where we can make a difference,’ he said. ‘It’s not disinvestment, it is choice investment. It’s choosing where your investment will use your voice where it will be listened to.'”
We continue to question Lord Deben’s position that morally-led investments are particularly important for academic institutions to make – Harvard University President Drew Faust’s position that the endowment “should not be used as a weapon to exert pressure on one group or another,” is a leading view – but his efforts to stymie misinformation and instead advocate for being an informed investor are noted.
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