Plymouth Marjon University has announced its divestment from fossil fuels, updating its Ethical Investment Policy to exclude all fossil fuel investments from its portfolio. This move also forms part of Plymouth Marjon University’s larger sustainability strategy.
Plymouth Marjon is one of 12 members of the Cathedrals Group of UK universities to commit to Fossil Free, taking the percentage of those with divestment commitments to 80% of the group.
The University is the latest success of the UK-wide Fossil Free campaign, which has seen two-thirds of universities commit to divestment. The campaign, coordinated by student-led campaigning charity People & Planet, demands universities exclude the fossil fuel industry from their investments, in recognition of the industry’s role in the climate and ecological crisis.
Laura Clayson, Climate Campaigns Manager at People & Planet, said:
“It is incredible to learn that Plymouth Marjon University will be excluding fossil fuel companies from their investment holdings. Divestment is a meaningful act of solidarity with both the Indigenous and frontline communities engaged in daily resistance to fossil fuel extraction and those being impacted by the unfolding climate crisis. We look forward to the fossil fuel industry being excluded from Plymouth Marjon recruitment opportunities next.”
Simon Arthurs, Chief Operating Officer and Finance Director at Plymouth Marjon University, said:
“At Plymouth Marjon University we actively embed sustainability in everything we do, aiming to make the university one of the greenest in the country. Our Marjon Zero programme includes one of the biggest ground source heat pump installations in England and installation of more than 2000 solar panels. We are also absolutely committed to ethical investment and procurement and have worked closely with our governing body to agree a commitment to divestment from fossil fuels which we're very proud of. So, as well as using sustainable energy on campus, we ensure that our investments are not contributing to climate change."
Plymouth Marjon is in the third phase of its Marjon Zero project which aims to make the University carbon free by 2030. Marjon has already made leaps toward this target, installing solar panels and ground source heat pumps, replacing lighting, and making operational changes to reduce waste.
The next phase of Marjon Zero sees the University begin to retrofit its current buildings. The latest works featured a new heating system in the University’s halls of residence and will see improvements to its original 1970s buildings.
You can learn more about the Marjon Zero project here, and find out more about People & Planet here.