Ohio University - Main Campus: Go Fossil Free!
To: President Roderick McDavis
Investing in our future through the means of companies that condemn that very same future is unethical and unsustainable. The business model of fossil fuels is rooted in environmental destruction to a point where we will reach human climate disaster if we do not act now. We call on Ohio University, among many others, to immediately freeze any new investment in fossil-fuel companies, and to divest within five years from direct ownership and from any commingled funds that include fossil-fuel public equities and corporate bonds. This is also in accordance with benchmark 21 of FY 12 Ohio University Sustainability Plan.
Why is this important?
Climate change is accelerating. We are witnessing the increasing impacts of a warming planet more and more consistently; in this last year alone our country experienced record-breaking heat, droughts, and hurricanes, which impacted hundreds of thousands of people and cost our country hundreds of billions of dollars. Hurricane Sandy alone caused $50bn in damages. Experts agree that global warming caused by humans burning fossil fuels will continue to accelerate and intensify these tragic climate disasters. The scientific consensus is clear and overwhelming; we cannot safely burn even half of global fossil-fuel reserves without dangerously warming the planet for several thousand years. As public pressure to confront climate change builds, we call on Ohio University to immediately freeze any new investment in fossil-fuel companies, and to divest within five years from direct ownership and from any commingled funds that include fossil-fuel public equities and corporate bonds. We believe such action on behalf of Ohio University will not only be a sound decision for our institution’s financial portfolio, but also for the wellbeing of its current and future graduating classes, who deserve the opportunity to graduate with a future not defined by climate chaos.