U.K’s National Trust To Divest from all fossil fuel companies within the next three years

The National Trust has announced it will sell off its investments in oil, coal and gas companies to better protect the planet.

The charity – which with 5 million members is Britain’s biggest – said it was taking the decision because fossil fuel companies had made little progress in switching to greener alternatives.

They issued the following statement:
The impacts of climate change pose the biggest long-term threat to the places we care for. We take our responsibilities towards the environment very seriously and are committed to playing our part in helping the UK achieve net zero emissions.

We will do everything we can to protect the natural environment and we’re changing our investment policy to support this.

Returns from our investments are vital for helping us protect and care for special places across the nation. They enable us to look after the natural environment and keep our membership fees affordable.

As part of our commitment to our conservation aims, we’re stopping investment in fossil fuel companies within three years. Our current investment policy requires that no investment is made directly in companies which derive more than 10 per cent of their turnover from the extraction of thermal coal or oil from oil sands. Under the new policy there will be no investment in such companies.

The new measures include:

Divesting from all fossil fuel companies within the next three years.

Establishing a long-term goal to continue the reduction of the carbon footprint of the investment portfolio.

Increasing engagement with companies currently invested in, to continue to make material improvements in their environmental performance.

Actively seeking out opportunities to support green start-up businesses.

Source / More : National Trust