To: University Board
Divest @ DCU
We call on Dublin City University and its subsidiaries to immediately freeze any new investments in fossil fuel companies, and to commit to divest at the soonest possible date but no later than 2020 from direct ownership and from any commingled funds that include fossil fuel public equities and corporate bonds.
Why is this important?
The current relentless use of fossil fuel reserves is too high to ensure that the average global temperature does not reach a 2 ̊C rise. Climate change and fossil fuel markets are interconnected. The use of fossil fuels contributes to the majority of greenhouse gases (GHG) emissions. Efforts to abate GHG emissions to mitigate climate change will likely affect global fossil fuel markets. This means anyone who has investments in fossil fuel companies will suffer huge devaluation. By actively investing money in fossil fuels we are not acting responsibly.
We believe divestment from fossil fuels will ensure the welfare of future generations of graduates, staff and the wider DCU community and also for the institution’s financial portfolio. We need to stick to our Strategic Plan and develop and implement a comprehensive Environmental Sustainability Strategy and divest from fossil fuels.