Divest PSC From Fossil Fuels

Screen endowment investments in fossil fuels now, then freeze and reinvest that portion in renewable energy. In short, "Invest in Nature!" Here is the petition from SEA and previously supported by SGA:

Call for Divestiture of Fossil-Fuel Stock in The Investment Fund for Foundations (TIFF)

Students for Environmental Action (SEA) respectfully request on behalf of the Student Government Association that the College begin divestiture proceedings of any portion of college endowment portfolios, which are found to be invested in the stock of companies whose sole purpose is the extraction of fossil fuels.

Whereas many of TIFF’s college members are signatories of the American College and University Presidents’ Climate Commitment, any such investments in major fossil fuel companies are in direct contradiction to the respective institutions’ Climate Action Plans.

Therefore, in solidarity with other leading institutions of higher learning in the spirit of sustainability, we respectfully demand that TIFF Board Members join the growing fossil fuel divestiture movement in holding the industry accountable for the greenhouse gas pollution it is emitting free of charge.

If such action cannot be performed due to the nature of the TIFF investment portfolio, we then request that the Finance Committee of the Board of Trustees begin exploring other investment strategies, which support renewable and sustainable investment funds.

Paul Smith’s College promotes itself as a college committed to ecological sustainability. We openly advertise in multiple ways that our color is green. Such statements will be quickly determined to be green-washing and a hallmark of hypocrisy if it is discovered that we have not begun divestiture from fossil fuel companies. At this point in our history, we need to take a longer view toward the future, and understand the harmful effects of a business as usual investing to maximize quarterly profits is leading to. As a college committed to environmental stewardship we can no longer afford to not be green. If not us, then who? If not now, then when? It is at this moment, on the brink of reaching the tipping point on global climate change that the buck stops here.

We are just beginning to see the wave form of colleges withdrawing from companies whose sole mission amounts to the environmental degradation of the planet. Many of these colleges will in effect be creating a market for a higher level of socially responsible investing. It makes good sense for Paul Smith’s College to investigate these renewable portfolios for the health of all concerned. It is this purpose that we request the Finance Committee of the Board of Trustees to commence as soon as possible. We would also very much appreciate meeting with the committee prior to the May commencement ceremony on campus.

Sincerely – Students for Environmental Action