Climate crisis: Wellcome sells some fossil fuel investments as climate leaders call for full divestment

Abstract

The Wellcome Trust, one of the world’s top scientific research funders, has sold its stakes in a number of large fossil fuel companies, including BP and Shell, although it still retains some fossil fuel investments. The sales follow years of pressure on the charity to divest from fossil fuels because of the industry’s impact on human and planetary health. However, in a statement published on 19 July,1 Wellcome said that the sale of the stock was part of a wider investment decision to concentrate its holdings in “non-cyclical industries” resulting in a move away from many commodities based businesses, rather than from pressure to divest. Wellcome is thought to have owned a stake of more than £300m (€356m; $364m) in BP and Shell. Wellcome’s statement …