Cambridge is right to join the flight from fossil fuels. But divestment is just a start

The financial system is what's driving the climate emergency. It needs a complete structural overhaulIt's been a year of considerable blows to the fossil fuel industry. Thursday's announcement that Cambridge University's will divest its endowment fund from fossil fuel corporations is another considerable win for campaigners, who have spent many years doggedly demanding change from an institution that - despite being a global leader in scientific research and education - has been obstinate about severing its many ties to the fossil fuel industry, including significant research funding from Shell and BP.Of course, serious questions will doubtless be raised about why a full decade is needed to shift money out of direct fossil fuel investments, and until 2038 to arrive at a "net-zero portfolio". And the absence of a commitment on cutting the university's close research ties with fossil fuel companies is also sure to draw some ire. Continue reading...