University of Oslo is criticized for coal investments

University of Oslo is criticized for coal investmentsOslo. Blindern.Universitetet of Oslo (UiO). Photo: Jon Olav Nesvold / NTB scanpix

The University of Oslo (UiO) has money placed in coal companies the oil fund has withdrawn from. – Remarkable,   the Future in our hands(Fremtiden i våre hender) believes .

Last week Norges Bank announced that it has decided to exclude 52 companies that have been involved in coal production from the oil fund. UiO invests in two of these companies, Xcel Energy and American Electric Power, through its management foundation Unifor,  Universitas writes.
According to the student newspaper several environmental organizations have  criticized UiO for their coal investments for a long time. Conductor Arild Hermstad in  the Future in Our Hands (FIOH) believes it is time that the university rids itself  of all its shares in companies involved in fossil fuels.
– It is remarkable that the university does not pay more attention to this. What you do with your savings is more important than  sorting paper, he said, referring to the University’s committment to recycling and it describing itself as a green university.
Rector Ole Petter Ottersen at the University of Oslo writes in an email that Unifor will establish a fossil strategy during 2016.


Source: NTB scanpix / Norway Today