A SCOTTISH university at the centre of a row over its investment in fossil fuels has backed down over the issue.
Edinburgh University is to write to three of the world's biggest fossil fuel producers telling them it intends to stop funding them within the next six months.
The university said it was targeting the companies because they were involved in coal or tar sands production, which are high carbon-emitting industries.
However, the university will continue its investments in other fossil fuel companies.
Professor Charlie Jeffery, the institution's senior vice-principal, said the decision by the investment committee was an important step forwards.
He said: "This decision underlines the recent commitment made by the university to address the challenge of climate change though its responsible investment policy.
"We will act quickly to reduce harmful emissions through divestment, reinforcing the work we do to act on climate change through research and teaching."
The move was welcomed by student protestors, who have waged a three-year campaign calling for the university to divest from the world's top 200 fossil fuel companies.
Kirsty Haigh, a student campaigner with Edinburgh People and Planet action group, said: "We are glad to see the university finally accept that there are lower carbon alternatives to coal and tar sands, but it should have never taken this long.
"The university is pledging to engage with these companies for the next four weeks before divesting, but have refused to outline what that means. It is crucial that they follow through and fully divest from them."
The move came as more than 300 graduates threatened to stop financial contributions to the university unless it changed its stance.
Dr Richard Dixon, director of Friends of the Earth Scotland, who was among the signatories of the letter, said "destroying communities and trashing the planet" was not deserving of alumni donations.
Earlier this month, students from Edinburgh University occupied a management building to protest over the institution's original decision to maintain investments in fossil fuels.
More than a dozen campaigners staged a sit-in in the foyer of Charles Stewart House, in Chambers Street, in response to what they describe as the university's "reckless and irresponsible failure".
The students pledged to remain in occupation until the university, which has a £290 million endowment, made a commitment to divest from fossil fuels. However, the protest came to an end after concerns over the way it was being policed by security guards.
WWF Scotland director Lang Banks said: "This is a welcome move by the University and we hope it marks the beginning of the end for their investments in climate-trashing fossil fuels.
"The students and staff are to be congratulated for their persistence on this important global issue, as I am in no doubt this would not have happened had it not been for their campaign.
"The science is clear, to protect our climate the vast majority of known fossil fuel reserves must remain unburned and in the ground."
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