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| Leading health experts call on Wellcome to divest from fossil fuels | Leading health experts call on Wellcome to divest from fossil fuels |
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| A group of high-profile health practitioners, including the editors of the Lancet and British Medical Journal (BMJ), have called upon the Wellcome Trust to divest from fossil fuels in an open letter published on Thursday in the Guardian. | |
| Among the signatories are Anthony Costello, director of the University College London (UCL) Institute for Public Health, Martin McKee, Professor of European Public Health, Fiona Sim, chair of the Royal Society for Public Health, Richard Horton, editor of medical journal the Lancet and Fiona Godlee, editor of the BMJ. | Among the signatories are Anthony Costello, director of the University College London (UCL) Institute for Public Health, Martin McKee, Professor of European Public Health, Fiona Sim, chair of the Royal Society for Public Health, Richard Horton, editor of medical journal the Lancet and Fiona Godlee, editor of the BMJ. |
| Costello said that divestment was necessary because of the potential for climate change to cause “extremely serious health effects and catastrophe” and to signal to the public that “transition to a zero carbon economy is a global priority”. | Costello said that divestment was necessary because of the potential for climate change to cause “extremely serious health effects and catastrophe” and to signal to the public that “transition to a zero carbon economy is a global priority”. |
| Related: Do no harm: the Wellcome Trust should not profit from the fossil fuel industry | Related: Do no harm: the Wellcome Trust should not profit from the fossil fuel industry |
| The letter calls upon the Wellcome Trust – the world’s second largest health funder – to show leadership on divestment in the name of the age-old principle of medical ethics: “do no harm”. So far it has been signed by 73 doctors, nurses and academics. | The letter calls upon the Wellcome Trust – the world’s second largest health funder – to show leadership on divestment in the name of the age-old principle of medical ethics: “do no harm”. So far it has been signed by 73 doctors, nurses and academics. |
| It reads: “divestment rests on the premise that it is wrong to profit from an industry whose core business threatens human and planetary health, bringing to mind one of the foundations of medical ethics – first, do no harm.” | It reads: “divestment rests on the premise that it is wrong to profit from an industry whose core business threatens human and planetary health, bringing to mind one of the foundations of medical ethics – first, do no harm.” |
| Writing in the Guardian in March, director of Wellcome Trust Jeremy Farrar argued that divestment is “a grand gesture” and that engagement with fossil fuel companies is a more effective way to tackle climate change. | Writing in the Guardian in March, director of Wellcome Trust Jeremy Farrar argued that divestment is “a grand gesture” and that engagement with fossil fuel companies is a more effective way to tackle climate change. |
| The letter rejects this argument; it reads: “we believe that, in aligning organisations’ investments with their aims and values, it goes beyond a “grand gesture”. The question is not only one of direct, short-term impacts, but of leadership. Health organisations such as the Wellcome Trust have considerable moral and scientific authority, and a decision to divest has the potential to influence policy-makers, other investors and the public, in the UK and internationally. | The letter rejects this argument; it reads: “we believe that, in aligning organisations’ investments with their aims and values, it goes beyond a “grand gesture”. The question is not only one of direct, short-term impacts, but of leadership. Health organisations such as the Wellcome Trust have considerable moral and scientific authority, and a decision to divest has the potential to influence policy-makers, other investors and the public, in the UK and internationally. |
| The letter was co-ordinated by the global health NGOs MedAct and the Climate and Health Council, who are also inviting other global health practitioners around the world to sign the letter on the Guardian’s website. | The letter was co-ordinated by the global health NGOs MedAct and the Climate and Health Council, who are also inviting other global health practitioners around the world to sign the letter on the Guardian’s website. |
| David McCoy, director of MedAct, said: “All those who’ve signed would be supportive of Wellcome’s aims, but firmly believe that the Trust has got it wrong on this issue. We’re inviting doctors, nurses, midwives, psychologists, dentists, pharmacists, physiotherapists, allied health and community health workers, health researchers and lecturers from around the world to add their name to this letter and join the growing global health divestment movement. If you’re part of a professional association, university, hospital or other health organisation, this is a way to pressure your own institutions from within, to divest.” | David McCoy, director of MedAct, said: “All those who’ve signed would be supportive of Wellcome’s aims, but firmly believe that the Trust has got it wrong on this issue. We’re inviting doctors, nurses, midwives, psychologists, dentists, pharmacists, physiotherapists, allied health and community health workers, health researchers and lecturers from around the world to add their name to this letter and join the growing global health divestment movement. If you’re part of a professional association, university, hospital or other health organisation, this is a way to pressure your own institutions from within, to divest.” |
| The move follows the publication on Tuesday of the major new report on health and climate change by the UCL/Lancet commission. The letter has been signed by co-chairs of the commission, Prof Hugh Montgomery, director of the UCL Institute for Human Health and Performance and Prof Anthony Costello, director of the UCL Institute for Global Health. | The move follows the publication on Tuesday of the major new report on health and climate change by the UCL/Lancet commission. The letter has been signed by co-chairs of the commission, Prof Hugh Montgomery, director of the UCL Institute for Human Health and Performance and Prof Anthony Costello, director of the UCL Institute for Global Health. |
| Montgomery said: “I think the Wellcome Trust are essentially a great organisation ... For me, the argument that such a small stockholder can really influence the direction of travel of a large fossil fuel company doesn’t appear credible. Some such companies are saying that they ‘accept that reserves must stay in the ground’, but then drill for more reserves beyond that. Shell is an example. Those two positions don’t add up. I do understand that divesting is to a degree symbolic – but its a really big symbol when an organisation as noble and credible as the Wellcome Trust takes such action.” | Montgomery said: “I think the Wellcome Trust are essentially a great organisation ... For me, the argument that such a small stockholder can really influence the direction of travel of a large fossil fuel company doesn’t appear credible. Some such companies are saying that they ‘accept that reserves must stay in the ground’, but then drill for more reserves beyond that. Shell is an example. Those two positions don’t add up. I do understand that divesting is to a degree symbolic – but its a really big symbol when an organisation as noble and credible as the Wellcome Trust takes such action.” |
| Costello said he was signing the letter for “political” reasons: “divestment sends a signal to the public to reduce the social licence of the fossil fuel industry. Given what we know of the current science and trends – the potential for extremely serious health effects and catastrophe – we need to send a signal to the public that the transition to a zero-carbon economy is a global priority,” he said. | Costello said he was signing the letter for “political” reasons: “divestment sends a signal to the public to reduce the social licence of the fossil fuel industry. Given what we know of the current science and trends – the potential for extremely serious health effects and catastrophe – we need to send a signal to the public that the transition to a zero-carbon economy is a global priority,” he said. |
| The publication of the letter also comes on the first anniversary of the decision by the British Medical Association (BMA), the representative body of doctors in the UK, to divest from fossil fuels. | The publication of the letter also comes on the first anniversary of the decision by the British Medical Association (BMA), the representative body of doctors in the UK, to divest from fossil fuels. |
| Robin Stott, co-chair of the Climate and Health Council called upon the Wellcome Trust to follow their leadership. “We feel strongly that the time for stepping up to the plate in the health profession is now here. We must acknowledge the BMA’s leadership – they have been extremely helpful in galvanising the rest of the profession. It would be marvellous if the Wellcome Trust committed to divestment and joined the growing body of health professionals tackling climate change.” | Robin Stott, co-chair of the Climate and Health Council called upon the Wellcome Trust to follow their leadership. “We feel strongly that the time for stepping up to the plate in the health profession is now here. We must acknowledge the BMA’s leadership – they have been extremely helpful in galvanising the rest of the profession. It would be marvellous if the Wellcome Trust committed to divestment and joined the growing body of health professionals tackling climate change.” |
| In March, the Guardian launched a campaign calling on the Wellcome Trust and the Bill and Melinda Gates Foundation – the world’s largest charitable foundations – to divest from the top 200 coal, oil and gas companies. | In March, the Guardian launched a campaign calling on the Wellcome Trust and the Bill and Melinda Gates Foundation – the world’s largest charitable foundations – to divest from the top 200 coal, oil and gas companies. |
| Current research shows that in order to meet the target to keep the rise in global temperatures to 2C – agreed by international negotiators as necessary to avoid catastrophic and irreversible levels of climate change – between two-thirds and two-fifths of current fossil fuel reserves must remain in the ground. | Current research shows that in order to meet the target to keep the rise in global temperatures to 2C – agreed by international negotiators as necessary to avoid catastrophic and irreversible levels of climate change – between two-thirds and two-fifths of current fossil fuel reserves must remain in the ground. |
| Farrar said in March: “We consider individual companies on their merits, including the extent to which they meet their environmental responsibilities, when we decide whether or not to invest or stay invested ... when we are not satisfied that a company is engaging with our concerns, we are perfectly prepared to sell.” | Farrar said in March: “We consider individual companies on their merits, including the extent to which they meet their environmental responsibilities, when we decide whether or not to invest or stay invested ... when we are not satisfied that a company is engaging with our concerns, we are perfectly prepared to sell.” |
| In April, a group representing one million medical students worldwide published an open letter calling upon the Wellcome Trust to divest from fossil fuels, on the basis that the fossil fuel industry poses a greater risk to human health than tobacco. | In April, a group representing one million medical students worldwide published an open letter calling upon the Wellcome Trust to divest from fossil fuels, on the basis that the fossil fuel industry poses a greater risk to human health than tobacco. |
| A spokesperson for the Wellcome Trust said: “The range of individuals and organisations working to improve health is wide and it would be surprising if this community did not contain a diversity of opinion about how best to reduce carbon emissions. The Wellcome Trust believes that engagement with the small number of energy companies in which we invest gives us the best opportunity to contribute to change, but we understand and respect the views of those who disagree.” | A spokesperson for the Wellcome Trust said: “The range of individuals and organisations working to improve health is wide and it would be surprising if this community did not contain a diversity of opinion about how best to reduce carbon emissions. The Wellcome Trust believes that engagement with the small number of energy companies in which we invest gives us the best opportunity to contribute to change, but we understand and respect the views of those who disagree.” |