100 signatures reached
To: Carleton University’s Board of Governors
Divest Carleton University From Fossil Fuels
We, the undersigned students, staff, and alumni at the University of Carleton, along with concerned citizens, call upon Carleton University’s Board of Governors to respond to the seriousness of climate change and immediately freeze any new investment in fossil-fuel companies, including the top 200 fossil-fuel companies (as defined by the Carbon Tracker Initiative), Enbridge Inc., Kinder Morgan Inc., TransCanada Corporation, and any subsidiaries of these companies. We also call upon Carleton University’s Board of Governors to completely divest from direct ownership and from any commingled funds that include fossil-fuel public equities and corporate bonds within three years.
Public pressure to confront climate change is building and we believe such action on behalf of the University of Carleton will not only be a sound decision for your financial portfolio, but also for the well-being of current and future graduating classes, who deserve the opportunity of a future that isn't defined by climate chaos.
Why is this important?
Climate change is no longer a future state. It's here and accelerating. We are witnessing the increasing global impacts of a warming planet more and more consistently. Just in the last few years, extreme weather, record-breaking heat, droughts, hurricanes, and flooding have impacted hundreds of thousands of people with a cost of hundreds of billions of dollars. The vast majority of scientists and climate experts agree that global warming is caused by human activity and that burning fossil fuels will continue to accelerate and intensify these tragic climate disasters.
Furthermore, the huge dependence on government subsidies and political rules makes the fossil fuel sector more risky and volatile as a financial investment. There is growing evidence that the sector is greatly over-valued. When a true cost is placed on carbon emissions, these shares will be worth substantially less. Analysis of historical data shows that over the past seven years, eliminating the fossil fuel sector from a global benchmark index would have actually resulted in a slightly higher return.
It is unconscionable to pay for our education with monies that will then be invested to support the fossil fuel industry and condemn the planet to climate disaster. We ask you to join a growing movement of diverse groups and organizations around the world that are committed to a clean energy future by moving the University of Carleton’s endowment away from fossil fuels and into sustainable investments.
This petition is sponsored by 350 Ottawa, a local chapter of 350.org.
The list of top 200 fossil-fuel companies can be found at the following link: