500 signatures reached
To: President Gertler
We, the undersigned University of Toronto students, staff and alumni, call upon U of T to appropriately respond to the reality of the climate’s impending destabilization by making an immediate statement of its intention to fully divest from fossil fuel companies within the next five years and to immediately stop investing new money in the industry.
Why is this important?
➽➽➽ Burning fossil fuels causes CLIMATE DESTABILIZATION
➽ Stocks in fossil fuels are OVER-VALUED & UNSUSTAINABLE
➽➽ Divestment makes FINANCIAL + ETHICAL sense for U of T
To avoid dangerous climate destabilization the world needs to urgently move from carbon-intensive fossil-fuel production to carbon-neutral energy production. Fossil fuel companies have more than five times the reserves of carbon than can safely be burned, yet they continue to search for more reserves and increase their emissions.
The high stock value of fossil fuel companies also rests on the dubious assumption that all of these fuels will be burned. In a world where fossil fuel production and consumption must be curtailed these stocks are significantly over-valued and divestment makes both financial and ethical sense.
The University of Toronto is heavily invested in fossil-fuel companies, with a significant portion of its ~$1.5 billion endowment devoted to this unsustainable industry. The danger of climate destabilization obliges us to transition away from fossil fuels in the very near future.