Climate change has been described as the most serious challenge of our generation. Under the United Nations Copenhagen Accord, countries have agreed to limit warming to 2 degrees to prevent dangerous climate change.
Moreover, investing in fossil fuels poses a serious financial risk. According to recent research led by Professor Lord Stern at LSE, two-thirds of current fossil fuels reserves are unburnable if climate change is to be kept to the globally-agreed limit of 2 degrees of warming [3].
In this regard, we call upon the Endowment Fund Board to issue explicit guidance to ensure the funds are divested away from fossil fuels, for the sake of current and future generations.
References:
[1] FOI Request
[2] People & Planet, Platform, 350.org:
http://peopleandplanet.org/dl/fossil-free/knowledge-power-report.pdf
[3] Carbon Tracker Initiative Report (Carbon Tracker & The Grantham Research Institute, LSE) :
http://www.carbontracker.org/wastedcapital
