Otago divestment decision leaves Auckland falling behind

FOR IMMEDIATE RELEASE

14 September 2016

Otago divestment decision leaves University of Auckland falling behind

The University of Auckland has been shown up on its climate change policies by yesterday's decision of the University of Otago Council to divest from fossil fuel investments.

Otago became the second University in New Zealand to commit to fully dumping fossil fuel investments due to concerns about funding climate change, following in the footsteps of Victoria University which divested in 2014.

"The University of Auckland needs to catch up with its competitors and show some leadership on climate change," said Fossil Free University of Auckland spokesperson Alex Johnston.

"We congratulate the University of Otago for standing on the right side of history by divesting, and call on our Vice Chancellor, Stuart McCutcheon, to do the same."

"When it's our future on the line, it is unacceptable for our University to be funding climate change through its investments. We challenge Stuart McCutcheon to step up and catch up," said Johnston.

The University of Otago joins over 500 other institutions around the world that have divested assets worth approximately $3.4 trillion USD from oil, gas and coal companies due to the limited amount of carbon that can be burnt to avoid catastrophic climate change.

The University of Auckland is the only major university in New Zealand without some form of ethical investment policy, which means it can invest in tobacco, weapons, and fossil fuel companies.

Said Johnston "A university that teaches about the devastating impacts of climate change should be doing everything it can to limit those impacts. Fossil fuel divestment is a practical, powerful and effective way of doing this."

On Thursday, a Fossil Free UoA event will showcase leadership on climate change from staff, students and community activists to highlight the Vice-Chancellor's own lack of leadership on the issue.

ENDS

Notes to editor:
Leadership on Climate Change event: https://www.facebook.com/events/174045913020687/
Divestment commitments: http://gofossilfree.org/commitments/
Otago University divestment decision: http://www.voxy.co.nz/business/5/262794
Fossil Free UoA website: www.350.org.nz/fossilfreeuoa

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