The University of Sheffield renewed its commitment to helping the environment by becoming a founding signatory of a climate change declaration
Launched by Students Organising for Sustainability (SOS-UK), a nationwide student-led environmental sustainability charity, the COP 26 declaration outlines expectations for companies to manage their investments in an eco-friendly way.
Sheffield announced its participation in the declaration on November 11, joining several other universities who have pledged to uphold the declaration, including the University of Sussex, Lancaster University, and the University of Bristol.
Named after this year’s United Nations Climate Change Summit, which took place in Glasgow from October 31 to November 12, the COP 26 declaration states that asset managers should adopt an investment strategy to achieve net zero emissions by at least 2050, should vote in favour of all future climate resolutions, and regularly disclose all investment holdings and voting records.
Sheffield’s endowment investment policy states, that the university’s investments have no shares held in companies involved in oil and gas production, the manufacture or sale of tobacco production or non-pharmaceutical products that have been tested on animals for non-medical purposes.
Jo Jones, Chief Financial Officer at Sheffield said: “We understand the damage the fossil fuel industry continues to do to our planet and we are committed to investing our funds in a socially responsible way.”
The university has already taken steps towards reducing its reliance on fossil fuels, such as only using renewable electricity on campus and creating a target of being net carbon neutral by 2038.
Anesu Matanda Mambingo, Welfare and Sustainability Officer at Sheffield’s Students’ Union, said: “It’s encouraging to be working with a University who are willing to listen and take the lead in responsible finance which helps to protect our future.”
“I look forward to us remaining ambitious and intentional in our work to further develop an endowment policy which has the biggest possible positive impact on people and planet.”
The full declaration, as well as the list of signatories, can be found at www.cop26 declaration.uk.
