Emma students pledge to cut ties with polluter bank

Students cite the bank’s ties with the fossil fuel and arms industry as the reason for the move

XR activists condemn NatWest's investments at a sit-in last year (30/10)Varsity

by Jack Evans

Friday February 18 2022, 12:16pm

Emmanuel College's student union has pledged to stop banking with NatWest, citing their investment in fossil fuels and the arms industry. The vote passed unanimously.

The proposal came from the union’s green officer (29/01), joining other Cambridge and Oxford JCRs and MCRs which have made similar pledges.

The pledge includes support for the Boycott Banks’ Destruction campaign which started at the end of last year and is pushing for MCRs and JCRs to leave banks who invest in fossil fuels and the arms industry. Among them Lloyds, Barclays, HSBC, and NatWest.

Emmanuel College continues to bank with Barclays, despite criticisms of the bank’s investments in fossil fuel companies.

When asked for comment, the green officer said that as “an independent body, we felt very strongly about banking more ethically ourselves before opening up conversation with college about their banking practices”.

They also said that the transition is still in “the beginning stages”, but discussion over alternative banks is underway.

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