The University of Edinburgh has moved £60 million of its investments into businesses that directly benefit the environment as part of the university’s overall climate strategy.
The money has been invested into dedicated funds that support a cleaner, more sustainable and climate-friendly future, according to a University of Edinburgh statement.
The first fund invests in companies that tackle a range of sustainability issues, including the need for greener products and low-carbon infrastructure, as well as companies that address challenges such as sourcing sustainable water, energy and food.
The second fund invests in a range of sustainably focused themes, such as renewable technologies, to directly support the global transition to low-carbon and renewable energy.
The move is part of the university’s climate strategy to become carbon neutral by 2040. It has invested more than £30 million in low carbon technology and campus, and since 2010 has attracted more than £50 million in funding for climate-related research.
In 2013, Edinburgh became the first university in Europe to become a member of Principles for Responsible Investment, a UN initiative that aims to make the global financial system more sustainable.
“Since we joined the Principles for Responsible Investment, we have updated our policies on fossil fuels, modern slavery, and sustainable supply chains,” said Phil McNaull, director of finance at the university.
“This is another major change to our investment fund – to selectively invest in funds making a more positive contribution to environmental sustainability.”
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