100 signatures reached
To: The Board of Trustees
Divest Drew University's holdings from fossil fuels within 5 years
Why is this important?
Help us to get Drew University to join the growing number of schools divesting from fossil fuels (ie selling our investments in fossil fuel companies). In this call to action, we will discuss some of the ethical and financial reasons for divesting.
Given the clear academic consensus that climate change is a calamitous reality, our tuition dollars should not be invested in businesses that contribute to this problem (at the expense of our generation as well as future ones). If Drew University truly has the best interest of its students at heart, it must not financially support industries that jeopardize our future.
Thus far, Drew has placed a commendable emphasis on environmental issues. We have an Environmental Studies and Sustainability program, a sustainability office, and off campus programs dedicated to both the study of ecosystems and the disastrous impact that fossil fuels have on them. It is important that the sustainability-minded approach that characterizes our academics be manifested in the school’s financial actions as well. Moreover, as an educational institution, we should not be financially supporting businesses that have actively spread misinformation concerning climate change and other environmental issues. Specifically, fossil fuel companies have worked exceedingly hard to discredit forms of alternative energy.
Not only do these investments contradict the academic nature of our university, we feel that supporting fossil fuels is fiscally irresponsible in the long run. As indicated by the points below, the growing academic consensus is that our current fossil fuel production is not financially sustainable.
1. Global conventional oil discoveries peaked in the 1970s.
2. Conventional oil production in the U.S. peaked around 1970 and has been in decline ever since. Likewise, conventional oil production has peaked in most other major oil producing countries- including Russia, Venezuela, the United Kingdom, Mexico, and Norway.
3. New alternative sources of oil (such as Kerogen and tar sands) are expensive to obtain and not cost effective.
4. Other universities (and even some nations) are already divesting and selling their holdings in the fossil fuel industry. It is important that we divest now before the prices of fossil fuel stocks fall and we get left behind.
This is a call to action in response to the challenges facing our generations. You can be a part of Drew University’s proud history of leading the way in fostering global change (as seen in our role in the anti-apartheid movement or our current efforts to embrace globalization and become one of the most international colleges in the country). This divestment movement is a rare opportunity to take significant action and meet these challenges head-on. With your support, Drew can continue leading the way. After all, what good is our education if we don’t use it?