Bendigo environmentalists have welcomed La Trobe University’s decision to fully divest from fossil-fuel related companies and called on other institutions to follow suit. 

Bendigo Sustainability Group president Chris Weir said BSG and its members were “excited” about this week’s announcement from La Trobe and said he expected other regional bodies to review their investment policies. 

“We would hope regional financial institutions review their investment policies in light of this announcement,” Mr Weir said. 

“In particular, it would be great to see local superannuation trustee organisations review their investment policies and begin investing in solar technology, which is really the powerhouse of the future.” 

Mr Weir said he would like council to follow the lead of Mount Alexander Shire, which last month became the sixth local government in Victoria and 22nd in Australia which preference investments to financial institutions that do not invest in or finance the fossil fuel industry.

“Certainly we believe the City of Greater Bendigo is doing great work on undertaking a renewable pathway and it would be great see it review its investment and superannuation strategy,” he said. 

Council’s current investment policy does not include a provision encouraging moving its investments away from coal, oil and gas. 

Organisation support director Kerryn Ellis said the matter would be considered when the city’s investment policy was reviewed in December 2017.