The University of Bristol has stopped investing in all fossil fuel companies and joined calls for all UK other universities to do the same.
The move follows a pledge made two years ago by the university to change its investment policies. Last year it also became the first in the UK to declare a climate emergency. 
It is now campaigning with Bristol Students’ Union and the Bristol branch of the Universities and College Union (UCU) to urge all other universities to divest from the fossil fuel industry over the next four years.
The Universities Superannuation Scheme (USS) is estimated to have investments totalling around £1bn in fossil fuel companies – classified as non-renewable energy resources, including oil and coal, which release carbon dioxide when they burn, adding to the greenhouse effect and increasing global warming.
University of Bristol chief operating officer Robert Kerse said: “Collaboration between students and staff has been instrumental in bringing about this change. Our community is now focussing on the £1bn of fossil fuel investments held by the USS pension scheme.
“We have signed a joint statement between the university, Bristol Branch of UCU and the Bristol Student Union calling on USS to exit these investments and urge other institutions to join forces between students and staff to do the same.
“The resources owned by fossil fuel companies pose a material threat to our planet and could diminish in value as the world gradually reduces its use of fossil fuels.”
Student society People & Planet is a group of passionate activists dedicated to making the University of Bristol more ethical. It is a merger of the former Fossil Free and Undoing Borders campaigns.
Its president Hannah Syed said: “We were shocked to learn that USS has over £1bn invested in fossil fuel companies.
“Many of our lecturers devote significant energy exploring the issues of climate chaos with us. Yet their pensions are heavily invested in the industry most responsible for climate change.
“This means our fees are funding the climate crisis and putting all of our futures at risk. Students have a duty to support their staff and call for the USS to fully divest from fossil fuels.”
Bristol UCU president James Thompson added: “UCU has campaigned vigorously for a decade on climate change, building alliances with students and environmental organisations. We are proud to join with the University of Bristol, and People and Planet, in calling on USS to divest from fossil fuels.”
