The University of Edinburgh announced it has completed its divestment from fossil fuels — marking a significant milestone in its plan to become carbon neutral by 2040.

The divestment sees the university remove its direct and pooled investments in companies involved in the extraction and production of fossil fuels such as coal, tar sands, oil and gas from its portfolio.

The university said it has now invested more than £170 million in low carbon technology, climate-related research and businesses that directly benefit the environment since 2010.

University Principal Peter Mathieson said: “As a university with a global reputation for researching climate change and supporting policymakers and communities worldwide to mitigate and adapt to its impacts, it is important that our own investments and operational decisions act on that knowledge.

“By shifting our investments out of fossil fuels and into organisations and funds that positively impact society and the environment, we’re playing our part in fostering a lower-carbon, healthier, more sustainable and equitable future.”