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Cambridge university's endowment fund targets net zero emissions by 2038
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Cambridge university's endowment fund targets net zero emissions by 2038
The University of Cambridge pledged on Thursday to reduce the climate-warming emissions from its investments to net zero within 18 years, a first among academic institutions under pressure from students to do more to combat climate change. The 800-year-old British university said it would rebalance its 3.5 billion pound ($4.5 billion) endowment fund to ensure that it stopped contributing to global warming by 2038 - ahead of many other climate-concerned investors, who have tended to set a 2050 deadline. 'Cambridge is one of the world's leading scientific universities and our plans are to align our investment portfolio with the science,' Tilly Franklin, the university's chief investment officer, told Reuters television.
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