UNSW will not divest from fossil fuels

A well-oiled student newspaper has a large enough staff to cover all of the events. Here at NewsforUNSW, that is not the case – yet! Until then, we will surely miss a couple big stories, despite trying to cover as much as we can. While ARC student elections occupied most of the focus, more news came out UNSW’s decision concerning divestment. They decided not to divest their $50 million in fossil fuels, citing the university is not an institution with a political leaning. Instead, the economics of the university should be taken aside from the research produced. There was overwhelming support in favor of this motion.

You can read the University’s statement, here.

Below are the UNSW equities, according to a PDF linked to the university’s statement.

Courtesy of UNSW
Courtesy of UNSW

The Sydney Morning Herald’s environment editor Peter Hannam wrote the news article, UNSW’s fossil fuel stance ‘a complete failure of leadership.’ In the Australian’s higher-education recap, they say UNSW signs a Faustian pact, questioning the university’s stance: “Does this mean that Harvard or UNSW would have invested in apartheid-era South Africa? HW guesses the devil is in the detail.”

What are your thoughts on the matter? This is the case where a campus newspaper with a strong presence could post an editorial or two, which would carry a heavy say. This is the school that you pay to attend. Make your voice heard!

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