The Royal Pharmaceutical Society (RPS) is set to cease all its remaining financial investments in fossil fuels latest by the end of 2022.
The decision taken today (November 17) at the RPS Assemble, is part of the organisation’s “continued drive to become an environmentally responsible organisation.”
Calling it a significant move, RPS president Claire Anderson said: “RPS will divest from fossil fuels as soon as possible.
“RPS will instruct its investment managers immediately to ensure that we will be completely disinvested by the end of 2022 and hopefully sooner.”
Environment and human wellbeing have always been a core consideration of RPS investment, however it was not enough to offset the negative impacts of climate change, the organisation said.
To further its efforts against climate change, RPS adopted the approach of ‘Responsible Investing’ to drive change in the companies it invests in.
Anderson said: “We’re committed to tackling the climate and ecological emergency both as an organisation and working with colleagues across the pharmacy profession.
“But pharmacy can’t act alone. We’re calling on the pharmaceutical industry, governments across GB and other stakeholders to work with us to make the changes that are needed to tackle the climate emergency.”
RPS is also encouraging the profession to reduce the environmental impact of medicines, having its current long-standing investments fully integrated with the principles of ESG.
RPS is also a signatory to the Professional Bodies Climate Action Charter and will shortly become a member of the UK Health Alliance on Climate Change.