Premier and Climate Change Minister Peter Gutwein said the state government took climate change seriously but didn't commit to divesting investment opportunities.

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"The Tasmanian Government holds a number of investments across government and in its government businesses," he said.

"Investment strategies are made on the best available advice to diversify risk and achieve long-term sustainable returns."

The University of Tasmania on Monday announced it would divest $10 million it had invested in fossil-fuel aligned companies and would no longer invest in such.

It is part of a broader shift at the university to become a leader on climate change to encourage others to follow.

Climate Tasmania Launceston member David Hamilton said shifting away from fossil-fuel companies, projects and services was part of a broader global shift.

However, it was one that the Tasmanian Government had not made much headway on, despite being invested in climate change policies such as renewable energy.

Mr Hamilton said while those actions were admirable, meaningful action on climate change required bold leadership and decisions on fossil fuels.

"The Tasmanian Government hasn't taken any significant strides towards reducing our reliance on fossil fuels," Mr Hamilton said.

"Divestment [like the decision made by UTAS] is part of a broader global movement, and it sends a strong message that these companies no longer have social licence."

Mr Gutwein said the state government had made significant strides in the area and continued to do so.

"We continue to pursue opportunities to lead Australia in the transition to a low emissions economy," he said.

Last week, the government tabled a bill to legislated its renewable energy target.

Mr Gutwein pointed to its target to double renewable energy by 2040 and the establishment of a hydrogen market as evidence of its success.

However, Mr Hamilton was critical of those moves, saying more substantial commitments on fossil fuels would lead to meaningful change.

He said reducing reliance on fossil fuels was a two-step strategy - first to increase renewable energy, then the second was to electrify everything.

"Tasmania has done really well on the first step, but we've not done anything significant in the second step," he said.

Mr Gutwein said the government planned to transition government fleet to electric vehicles and are rolling out a statewide electric vehicle charging network.