To: President Loren Swartzendruber
Eastern Mennonite University: Go Fossil Free!
Because of Eastern Mennonite University's commitment to stewardship, and a desire to live our call towards "doing" justice, it is imperative that we also live out these values in our financial investments. For these reasons, we call on Eastern Mennonite University to join with other Mennonite Education Agency schools in freezing any new investment in fossil-fuel companies, and to divest within five years from any commingled funds that include fossil-fuel public equities and corporate bonds.
Why is this important?
Climate change is accelerating.
We are witnessing the increasing impacts of a warming planet more and more consistently; in this last year alone our country experienced record-breaking heat, droughts, and hurricanes, which impacted hundreds of thousands of people and cost our country hundreds of billions of dollars. Hurricane Sandy alone caused $50bn in damages.
Experts agree that global warming caused by humans burning fossil fuels will continue to accelerate and intensify these tragic climate disasters. The scientific consensus is clear and overwhelming; we cannot safely burn even half of global fossil-fuel reserves without dangerously warming the planet for several thousand years, and threatening the lives of many.
As public pressure to confront climate change builds, we call on Eastern Mennonite 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 Eastern Mennonite University, and the Mennonite Education Agency, will not only be a sound decision for our institution’s financial portfolio, but also for the well-being of its current and future graduating classes, who deserve the opportunity to graduate with a future not defined by climate chaos.
