The University of Glasgow is divesting from fossil fuels. In a dramatic decision, the university court voted today to become the first European institution of higher education to cease "profiting from the wreckage of the climate," as Bill McKibben puts it. Glasgow will "begin divesting £18m [$29 million] from the fossil fuel industry and freeze new investments across its entire endowment of £128m."
Glasgow joins thirteen US colleges and universities that have already made this commitment. Five of those institutions are in California, but the two statewide educational research systems are not yet included — the University of California and California State University. And Stanford University has begun divestment from coal stocks only. There is much more to be done in the state, and 350 Bay Area is supporting students and alumni working to change their institutions' policies.
McKibben called today's decision “a dramatic beachhead for the divestment movement,” pointing out the centrality of Glasgow to the birth of the industrial revolution. Naomi Klein added that students are "sending an unequivocal message that fossil fuel profits are illegitimate – on par with tobacco and arms profits."