At Britain’s legendary Oxford College, students and administrators have rallied against a delay in administrative decision making. That delay is a landmark decision that would result in millions worth of divestment in fossil fuel producing companies. Oxford’s administration has been deliberating about divesting their capital in fossil fuel companies, and reallocating those funds to low carbon alternatives and environmentally conscience companies. In light of the recent protest, students believe that Oxford decision makers have taken too long.
We at Arizona Recycle support the Oxford Fossil Free campaign. Oxford manages an immense amount of capital, and a movement towards green investments would surely encourage others to follows suit. Amongst the protestors was the previous director of Finance, John Clements, who had this to say: “we are bitterly disappointed about the university’s failure to come to a decision. Oxford should be leading the movement away from investments in all world-destroying fossil fuels companies to more sustainable forms of energy.”
His statement is not without merit. A recent finding by the school itself indicated that oil firms have access to three times as much oil as the environment could possibly handle.
Many firms have already led the charge away from investment in fossil fuel companies that are deleterious to the environment. Amongst the pioneers are Stanford, the British Medical Association, and the Rockefeller brothers. If the trend in divestment becomes wide spread, history as we know it will be significantly altered. At Arizona Recycle, we believes it will be altered for the better.
Not only will the movement help preserve the environment, but it will also shake up the global distribution of wealth, and hopefully alleviate inequality. It is no surprise that oil conglomerates hold a significant piece of the capitol pie. Reducing their portion of wealth would be far from the worst thing to every happen.