Fossil Free UTAS will speak with students today about the divestment campaign which is targeting the University of Tasmania’s (UTAS) fossil fuel investments.
Spokesperson Sophia Mallick said that today presents an excellent opportunity to talk with new students about the divestment campaign.
“The social, environmental and economic dangers of fossil fuels are clear; it is time for UTAS to divest from fossil fuels.”
“UTAS has an opportunity to lead by becoming the first university in Australia to divest entirely from the fossil fuel industry,” said Ms Mallick.
“We know that UTAS has a $253 million investment portfolio.”
“But of this $236 million is managed by third parties and the industry allocation of these investments is not publicly disclosed,” said Ms Mallick.
“Right to information documents reveal that 10% of UTAS’s direct investments are in the fossil fuel industry, they have increased their fossil fuel exposure exponentially over the past 18 months.”
“We estimate that UTAS has a total of $25.3m invested in an industry that is destroying the planet and the Australian way of life,” said Ms Mallick.
“UTAS must reverse course and begin an urgent review of their investment policy,” said Ms Mallick.
Website: fossilfreeutas.com act.350.org/letter/divest_UTAS
Facebook: facebook.com/fossilfreeUTAS
Sophia Mallick
