LONDON, March 19, 2024 (BSS/AFP) - Britain's Cambridge University confirmed
on Monday that it has adopted a moratorium on new funding from fossil fuel
companies after a campaign from students and academics.

The decision to halt funding until a review is carried out follows
recommendations in a report by former UN climate change envoy Nigel Topping
last year.

Cambridge said the suspension was adopted on Friday "having regard to its
commitment to address climate change through a transition to a zero?carbon
world".

According to the Topping report, the university receives relatively small
donations from industrial partners, amounting to 5.1 percent of all
research/philanthropy funding.

At an average of œ3.3 million ($4.2 million) per year over the last six
years, fossil fuel funding amounts to 0.4 percent of research/philanthropy
funding and 0.1 percent of total university income, it said.

Cambridge's decision was first reported by the Financial Times on Monday,
which said the university had accepted œ19.7 million from oil giants BP and
Shell between 2016 and 2023.

The university has a target to reach to achieve net-zero greenhouse gas
emissions by 2038. It plans to divest from all direct and indirect
investments in fossil fuels by 2030.

"The university has recognised the urgency of the climate emergency and taken
action to demonstrate leadership," the Topping report said.

"This includes decisions to divest from fossil fuels in the endowment, commit
to science-based targets, launch Cambridge Zero and align sources of funding
with the University's own ambition."