Fossil Free University of Bristol have submitted a motion to NUS NAtional Conference 2018 #NUSNC18 calling for a boycott of Barclays and to support the divest barclays campaign
Title: Divest Barclays
Submitted by: Bristol SU
- Burning fossil fuels is the primary contributor to climate injustice. However, projected fossil fuel investment in new fields, mines, and transportation infrastructure over the next twenty years is worth $14tn.
- Barclays is a major financier of new fossil fuel infrastructure responsible for $12.5bn of financing between 2014 and 2016, and the worst UK high street bank in 2016 with $4.4bn.
- Barclays finances projects violently imposed on local communities like Keystone XL, Cerrejón coal mine in Colombia and fracking in North Yorkshire.
- Barclays increased its financing of coal extraction projects to $982m since 2015 ($585m), despite signing the Paris Accord.
- UK universities have led the fossil fuel divestment movement eroding the social license of fossil fuel companies. The next step is to revoke the finance they need to expand.
- NUS has live policy supporting the fossil fuel divestment and positive reinvestment movement and policy committing NUS to prioritise campaigning against climate change.
- Student campaigners with People & Planet are campaigning for Barclays to stop financing fossil fuel companies and extraction projects using a strategy of creative action and institutional boycotts
- Sheffield SU, Bristol SU, Trinity St David SU and Young Labour have policy to boycott Barclays and support Divest Barclays campaigns.
Conference further believes
- Institutional boycotts are an effective tactic leveraging collective power and demands of NUS and SU membership.
- NUS used the same tactics against Barclays during South African apartheid. Now NUS should stand in solidarity with communities resisting fossil fuel projects funded by Barclays.
- NUS should boycott Barclays until they stop financing nall fossil fuel companies and nextraction projects globally, including: a) Not banking with Barclays; b) No financial dealings with Barclays; c) Not allowing Barclays to sponsor, advertise or recruit at NUS events or across its digital platforms; d) To not accept awards sponsored by Barclays; e) No other dealings with Barclays.
- NUS should write to Barclays explaining the boycott and publicly call on Barclays to stop financing fossil fuels.
- NUS should encourage all of its political and corporate partners to boycott Barclays.
- Society and Citizenship zone to work with SU Officers to increase the number of SUs and university Barclays boycotts, incorporate fossil free finance into SU and NUS officer trainings, linking with organisations including People & Planet, London Mining Network and 350.org.
- Society and Citizenship zone to work with Further Education zone to ensure FE is prioritised in Divest Barclays.
- NUS should introduce policy to the European Students’ Union for them to boycott Barclays and support fossil free finance campaigns.