Former students occupied an Oxford building on Monday to protest the university’s failure to decide about divesting funds from fossil fuels.
Campaigners expected an announcement from the university, following discussion of a divestment proposal put forward by students.
But an Oxford spokesperson said time was needed to consider “serious issues” involved in the investment change.
The demonstrators said there was no excuse for delaying the decision.
They point out that firms have discovered three times more fossil fuel than can be safely burned without excessive risk to the climate.