In a move exemplifying increasing global awareness about climate change and its adverse impacts, Swansea University made a commitment in 2019 to divest its investments in fossil fuels. This significant step was hailed as a welcome change with potential to set an example for other educational institutions. Now, further pushing boundaries, the university is contemplating cutting off the recruitment pipeline to the oil and gas industries, a decision that may deliver a major blow to these already struggling sectors.
1. Swansea University committed to divest its investments in fossil fuels in 2019, demonstrating increasing global awareness of climate change and its impacts.
2. The university's divestment was seen as a positive change that could serve as an example for other educational institutions.
3. Swansea University is now considering stopping recruitment to the oil and gas industries which could significantly impact these already struggling sectors.
4. The higher education sector, including institutions like Swansea University, provide a significant part of the workforce for oil and gas industries, and their divestment can reduce the influence of these environmentally harmful industries.
5. Divestment in these industries sends a strong message to them and impacts their ability to attract top talent, which could hinder their growth and innovation potential.
According to a report from People and Planet, as of 2020, over half of UK universities have made a commitment to divest from fossil fuel companies.
One of the critical strategies to fight fossil fuel dependence involves focusing on the educational sector that supplies the workforce to these industries. This focus is warranted since the higher education sector, including prestigious institutions like Swansea University, have traditionally functioned as a significant recruitment pipeline for oil and gas industries. By committing to divestment of investments in these industries in 2019, Swansea University has shown a path for other universities to follow. This step can go a long way in reducing the influence and operational capacity of these environmentally harmful sectors. Not only does such divestment send a powerful message to such industries, but it also affects their ability to attract the best of talent, thereby curtailing their growth and innovation potential.