100 signatures reached
To: Rev. Kevin Wildes, S.J., University President & Board of Trustees
Divest Loyola From Fossil Fuels
We, members of the Loyola community, call upon Loyola 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 our University will not only restore the ideals of our institution, but also assure that our students graduate with a future not defined by climate chaos.
Loyola University of New Orleans, as a Jesuit institution, is bound to uphold a certain set of ideals. These Ignatian ideals are faith, truth, justice, and service. There is no justice in an apathetic response to climate change. We do no service to our brothers and sisters with whom we share this earth. Loyola cannot honor the 450 years of Ignatian tradition if we do not act.
Why is this important?
Climate change is accelerating, and we here on the Louisiana Gulf Coast are already feeling its impact. Louisiana coastal wetlands are eroding at the rate of one football field per hour as sea levels rise. Oil drilling in the gulf contributes to this land loss. The most recent National Climate Assessment report warns that Louisiana will see billions of dollars in increased disaster costs as early as 2030. This is the effect of a rise in global temperatures attributed to the burning of fossil fuels. According to the United Nations coalition of scientists, in order to prevent a global climatic catastrophe, no more than one-third of the earth’s carbon reserves owned by fossil fuel companies and governments can be extracted from the earth. Although aware of this fact, major fossil fuel companies continue to extract fossil fuels. These fossil fuel emissions disproportionately impact people of color, indigenous communities, and low-income neighborhoods. Through its investments in these companies, Loyola is supporting their efforts and injustice. Loyola students who pay tuition, as well as its donors are unwitting accomplices in perpetuating the social injustices that arise from climate change. Divesting is an ethical obligation for our community, and the future of our planet.
How it will be delivered
We will collect all signatures and determine the most effective form of delivery in person or through email.