Barclays is a major investor in fossil fuel infrastructure across the globe it's time for them to halt their support for the fossil fuel industry before they crash the climate or the economy. Students in the network decided they would build a movement that will get unis to break ties with Barclays, build a mass boycott, end sponsorship deals and show Barclays up for the climate criminal that they are.
At the Barclays Annual General Meeting (AGM), the Chairman John McFarlane told shareholders that the bank would be withdrawing their financing of fracking company Third Energy - licensed to frack in Ryedale, North Yorkshire. Barclays owned a 97% controlling stakes in Third Energy. This was a huge victory for the anti-fracking and climate justice movement in the UK, showing the power of organising and building coalitions in our local communities.
UK emerges as campaign’s world leader as nine new institutions announce commitments . Over a third of universities in the UK have made fossil free commitments, as nine new UK universities have committed to never invest in fossil fuel companies. This brings the total to fifty four institutions which have taken action to exclude fossil fuel companies from their investment portfolios.
The number of UK higher education institutions vowing to exclude fossil fuel from investments grew to 43 - a significant milestone as it meant over a quarter of UK universities were now committed to divest from fossil fuels.
Glasgow University became the first academic institution in Europe to divest from the fossil fuel industry, in a turning point for the Fossil Free campaign!
After 12 months of campaigning, led by the Glasgow University Climate Action Society and involving over 1,300 students, the university court voted to begin divesting £18m from the fossil fuel industry and freeze new investments across its entire endowment of £128m.