The University of Tasmania will divest all investment in fossil fuels by the end of next year as part of its commitment to a “zero-carbon economy”.

Vice-chancellor Rufus Black made the announcement on Monday, effectively extending a 2018 decision to end direct investment in fossil fuels to also cover indirect investments, via managed funds. “As a university that operates in an island place, we understand that we need to work with, and not against, our ecologies and ecosystems,” he said. “We are deeply committed to ­delivering sustainable outcomes and have embedded the United Nations Sustainable Development Goals across our strategies and operations.”

According to Fossil Free UTAS, which hailed the announcement, the university has about $10m remaining in fossil fuel investments.

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