Scots universities signed up to a COP26 green network of academic institutions committed to tackling climate change have shares worth nearly £5.2 million in fossil fuel firms and arms companies. An investigation by The Ferret ahead of the 2021 United Nations Climate Change Conference in Glasgow, aka COP26, can reveal that both Glasgow and Strathclyde universities invest in Royal Dutch Shell and BP. Glasgow University also invests in Halliburton, a US firm which operates in the oil and fracking sectors.
The Ferret 24th Jan 2021 read more »
The Bank of England is under pressure to rethink its financial backing of oil and gas companies after being warned by an influential group of MPs that it risks creating a “moral hazard”. The Commons’ environmental audit committee has written to Andrew Bailey, governor of the Bank, warning that the institution threatens to undermine Britain’s efforts to tackle climate change by buying bonds issued by oil and gas companies. The warning comes ahead of the United Nations’ COP26 climate conference, which Britain is hosting in November.
Times 25th Jan 2021 read more »
The UK North Sea is the most attractive basin in the world for oil and gas firms that want to develop big offshore projects on a key measure, experts said this week. It was described as a boost for the region, and a surge in offshore oil and gas developments is expected.
Herald 24th Jan 2021 read more »