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  • SOAS: DIVEST FROM FOSSIL FUELS
    If you think we have a lot of poverty, conflict and injustice in the world today, imagine a world with 4 degrees C of global warming. This is where we are headed by the end of this century, according to the most recent projections, if we carry on emitting CO2 the way we are now. [1] Those who will be hit hardest and first live in countries of the Global South, which lack the resources to adapt to this dramatic change in climate. Yet these people have made virtually no contribution to this problem. The responsibility for these emissions, and the power to reduce them, lies with the industrialised economies of the Global North. So far, we have failed to take action. Our governments and institutions continue to invest vast sums in companies extracting oil and gas, giving them huge public subsidies that have helped to make them the most profitable companies in the world. SOAS is famous for our passion for promoting the peoples and cultures of Africa and Asia. Yet when faced with the problem of climate change, which poses the greatest threat in human history to those very peoples and cultures, SOAS too has failed to take action. SOAS still holds investments in a number of fossil fuel companies. We need to shift our money away from these companies today if we are to have any hope of preventing climate disaster. By divesting from fossil fuels, SOAS will join dozens of other universities, religious institutions and local governments across the world that have already committed to going fossil free. Together, we can make a substantial dent in the financial support that the fossil fuel industry needs to survive. We will also send an important signal to our governments and private sector about the urgent moral and financial imperative of shutting down fossil fuels. In doing this, we form part of an illustrious history of university divestment campaigns shifting public opinion on the great moral issues of our day-- from the anti-apartheid campaigns of the 1980s to SOAS’ own divestment from the arms trade in 2005. “To anyone who continues to deny the reality that is climate change, I dare you to get off your ivory tower and away from the comfort of your armchair. I dare you to go to the islands of the Pacific and see the impacts of rising sea levels… to the large deltas of the Mekong, the Ganges, the Amazon, and the Nile where lives and livelihoods are drowned… to the vast savannas of Africa where climate change has likewise become a matter of life and death … And if that is not enough, you may want to pay a visit to the Philippines right now.” -Philippines delegate Yeb Sano at the opening of the UN climate negotiations on 13 November 2013, before embarking on a hunger strike [1] http://www.climatechange2013.org/images/uploads/WGIAR5_WGI-12Doc2b_FinalDraft_All.pdf
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    Created by SOAS students Picture
  • University of Pennsylvania: Go Fossil Free!
    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. As public pressure to confront climate change builds, we call on The University of Pennsylvania 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 The University of Pennsylvania will not only be a sound decision for our institution's financial portfolio, but also for the wellbeing of its current and future graduating classes, who deserve the opportunity to graduate with a future not defined by climate chaos.
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    Created by Brendan Sculley
  • Divest St Paul's School from Fossil Fuels
    Because it is unconscionable to pay for our education with investments that will condemn the planet to climate disaster, and because our continued investments in fossil fuels violates both our School's founding Statement and our basic belief in goodness with knowledge, we call on St Paul's School to immediately freeze any new investment in fossil-fuel companies, and to divest within one year from direct ownership and from any commingled funds that include fossil-fuel public equities and corporate bonds. We would prefer to divest responsibly in top 100 polluters first.
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    Created by Divest SPS Picture
  • Whitman College: Go Fossil Free!
    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. As public pressure to confront climate change builds, we call on Whitman College 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 Whitman College will not only be a sound decision for our institution’s long-term financial stability, but also for the wellbeing of its current and future graduating classes, who deserve the opportunity to graduate with a future not defined by climate chaos. Additionally, divesting would reinforce and legitimize Whitman's environmental commitment while also reflecting our institution's progressive social stance.
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    Created by Sierra Dickey
  • Oxford Academics for Fossil Fuel Divestment
    We believe Oxford should divest for three main reasons: (I) To demonstrate support for its own scholars; (II) To show leadership in a time of unprecedented transition; (III) To honour its fiduciary duties. I. Oxford scholars are global leaders in calling for an end to our collective dependence on fossil fuels. The University of Oxford should support them. Oxford academics are among the lead contributors to the most recent Inter-governmental Panel on Climate Change (IPCC) reports. These reports warn that 80% of the reserves fossil fuel companies currently oversee must remain underground to avoid dangerous climate tipping points. They also show that the tools required to limit global warming to 2°C are available and affordable but that international efforts must be significantly enhanced. Oxford academics are also at the forefront of research into the economic consequences of climate change, highlighting, for instance, the financial implications of ‘stranded’ fossil fuel assets. Former Oxford scholars, now working outside the university, have pioneered similar research into the “carbon bubble.” This analysis is now driving global debate about the systemic financial risks associated with the future collapse of overvalued fossil fuel assets, which will occur when governments regulate to stave off catastrophic climate change. Fossil fuel companies, meanwhile, are failing to heed the advice of Oxford academics, and that of so many others. Instead, they are actively exploring for new fossil fuel reserves; they are refusing to accept the concept of ‘stranded’ assets; and they are lobbying government not to regulate carbon emissions. In short, they are behaving irresponsibly and threatening our future. Oxford scholars demonstrate the environmental and economic imperative to end our dependence on fossil fuels. By divesting, the University can amplify the voice of its academics and signal to policy makers the need to act now on climate change. II. The University of Oxford has a responsibility to show leadership in tackling one of the greatest challenges we as a society currently face. Climate change is an emergency and opinion leaders are rising to the challenge, calling for immediate change. A major focus is divestment from fossil fuels. Anti-apartheid campaigner Desmond Tutu, former Irish president Mary Robinson, World Bank president Jim Yong Kim, the British Medical Journal, the UNFCCC’s executive secretary Christiana Figueres and Lord Stern all agree. In the words of Tutu, “It makes no sense to invest in companies that undermine our future.” The University of Oxford has its own reputation as a leading institution, both in the UK and globally. It predates fossil fuel companies, and it will outlast them. To help secure that future, though, Oxford can make a powerful statement by divesting its endowment from fossil fuels. This action would, moreover, accord with the University’s own commitment to ensuring “it makes investment decisions responsibly and with integrity” by “[taking] into account social, environmental and political issues in order to maintain its ethical standards.” III. Oxford University has a fiduciary duty to divest from fossil fuels. As Oxford academics and staff, we support the university Council and Oxford University Endowment Manager (OUem) in their efforts to fulfil their fiduciary duties. We nevertheless encourage them to consider how climate change risks challenge standard interpretations of what these duties entail. Fiduciary duty is an ambiguous legal concept. It is generally thought to mean the responsibility of a trustee, investment manager or other financial intermediary to ensure maximum short-term returns on investments. The Kay Report and the Law Commission review both question this “short-termism.” They instead call on fund trustees to consider “longer term factors which might impact on company performance, including questions of sustainability or environmental and social impact.” As already noted, concern over the long-term financial viability of fossil fuel investments is spreading rapidly. This thinking is, moreover, moving into the financial mainstream. The Norwegian sovereign wealth fund, the largest such fund in the world, is considering divesting from fossil fuels, HSBC has published reports warning against the future risks of fossil fuel investments, and Blackrock has responded by creating fossil free asset portfolios. Given these growing concerns over long-term environmental sustainability and financial stability, we encourage the university to fulfil its fiduciary duties by divesting from fossil fuels. In conclusion: By divesting from fossil fuels, Oxford University can support its scholars, show leadership, and adopt the best investment practice, both from an ethical and financial perspective. As Oxford academics and staff, we therefore urge our university to take action on climate change and divest from fossil fuels.
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    Created by Michaela Collord
  • Santa Clara University: Go Fossil Free!
    We will surpass the manageable global warming temperature threshold within 15 years if we do not take immediate action to drastically reduce carbon emissions. Fossil fuel companies contribute most egregiously to this terrifying reality. To address this issue, the divestment campaign is urging cities, schools, religious institutions, and other organizations around the world to divest from the top 200 fossil fuel extraction companies as listed by the Carbon Tracker Initiative. Santa Clara University should be the next to divest. Although the world’s wealthiest countries produce the vast majority of carbon emissions globally, the unsettling reality is that the poorest countries are the least equipped to deal with the effects of climate change. According to the Intergovernmental Panel on Climate Change, “even under the most conservative scenario, sea level will be about 40 cm higher than today by the end of 21st century,” which will “increase the annual number of people flooded in coastal populations from 13 million to 94 million,” mostly in already impoverished South and East Asian countries. Globally, climate change introduces the threat of food shortages, risks to households in low-elevation areas, spread of diseases, and increases in the intensity and frequency of tropical storms: tragedies that will affect the world’s poor disproportionately. Jesuit values urge us as educated and empathetic individuals to take action against this profound injustice that has already begun to afflict the world’s most vulnerable. As a leading Jesuit university, SCU strives to instill in the minds and hearts of its students the values of competence, conscience, and compassion. These Jesuit values, if genuinely practiced, compel us as globally minded citizens and engaged members of the SCU community to demand that our university becomes a leader in the fight against climate change, rather than continuing to contribute to the most formidable issue our world has ever known. For us to truly embody the “three C’s,” we feel it is imperative that our university take a definitive stand against this industry that blindly disregards the wellbeing of our world’s most vulnerable communities, while threatening the viability of a livable future for all. Divestment from these top 200 companies is a crucial step in curbing irreversible damage to our planet, and showing through action, rather than through words alone, that Santa Clara University does not support the morals and practices of these corporations. By divesting, SCU will create an avenue for long term financial stability, remain true to its core values, and continue to be a leader among Jesuit universities in sustainable action and social justice. Fossil Free SCU is a coalition of the Santa Clara Community Action Program's environmental justice club B-LEJIT (Bronco Leaders for Environmental Justice Investigating Truth) and GREEN Club. Questions? Contact: fossilfreescu@gmail.com
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    Created by Claire Overholt
  • Fossil Free KTH
    Fossil Free har kommit till KTH! Fossil Free är en internationell kampanj som verkar för att gemensamma tillgångar (skattepengar och andra resurser) som investeras i olja, kol och gas, lyfts ur investeringen (desinvesteras). Det är inte många institutioner idag som placerar sina tillgångar i vapenindustrin - det är helt enkelt betraktat som omoraliskt. Människor håller med varandra om att vapen inte är okej att stödja. Det vi nu insett är att även olja, kol och gas kan ses som vapen: Vapen riktade mot oss, klimatet och vår framtid. Är det då verkligen moraliskt att ha sina pengar placerade i en industri som utsätter oss alla för fara, en industri som bevisligen spenderar miljarder årligen på att genom lobbyism och klimatskeptiska tankesmedjor förhala all politisk handling riktad mot en förnybar omställning? "If it's wrong to wreck the climate, then it's wrong to profit from that wreckage!" Det finns även starka finansiella incitament för att desinvestera ur fossilindustrin. Vi har råd med absolut max en 2-gradig global medeltemperaturhöjning. För att hålla oss under 2 grader har vi råd att släppa ut max 565 gigaton koldioxid i atmosfären fram till 2050, detta enligt rapporten “Unburnable Carbon” från Carbon Tracker Initiative. Enligt samma rapport sitter dock fossilindustrin redan på gas-, kol- och oljekällor som vid utvinning och förbränning skulle orsaka utsläpp av 2 795 gigaton koldioxid. Utifrån detta kan vi räkna ut att 80% av befintliga fossila bränslen måste lämnas under jord, ifall vi vill bibehålla ett någorlunda stabilt klimat på jorden! Det innebär också att de pengar vi har placerade i dessa bränslen kommer att försvinna i tomma intet så snart alla inser att vi måste lämna 80% under jord - detta är en finansiell bubbla, också känd som "fossilbubblan", som förmodligen kommer att spricka inom en snar framtid. Inte vill väl vi förlora 80% av värdet på stora delar av våra tillgångar? För vidare information besök http://gofossilfree.org/about/ och se gärna "Do the Math", en film som beskriver problematiken med att fossilindustrin ges fria tyglar (med stöd av våra pengar):
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    Created by Jenny Svensson
  • Divest the Head-Royce Endowment From Fossil Fuels
    Dear Members of the Head-Royce Board of Trustees: The United Nations and the international scientific community have agreed that a rise in global temperatures of 2 degrees Celsius would lead to catastrophic runaway climate change. That rise would be triggered by the emission of approximately 565 more gigatons of carbon dioxide. According to the Carbon Tracker Initiative, the proven reserves of the world’s fossil fuel companies total 2,795 gigatons of carbon dioxide. At present, the fossil fuel industry plans to extract, sell, and burn those reserves in their entirety. This creates a future that is terrifying and unacceptable to us as students and citizens of the Head-Royce community. Fossil fuel companies absolutely must change their behavior if we are to hold out hope for long, healthy, and safe lives for ourselves and our children. Since our political system has been ineffective in taking a stand against the fossil fuel industry, we have turned to our academic institution. As you all know, parts of the Head-Royce endowment are invested in the fossil fuel industry. We find this incompatible with the school’s mission. The first goal of the current strategic plan is “to strengthen our initiatives to become a sustainable, model green school in all areas of program, operations, finance and facilities.” If we aspire to be a model green school in any area, but particularly in the realm of finance, Head-Royce must divest from the fossil fuel industry. The school also has a moral imperative to divest. If it is wrong to destroy the climate, it is also wrong to profit from that destruction. Divestment is a prudent financial choice. According to a Citigroup report released in March, global oil demand could peak within seven years. Bernstein & Co. assert that coal demand is already falling in every country except China, and demand there will begin to fall within four years. With the recent increase in concerns about a carbon bubble, or the overvaluation of fossil fuel companies due to the erroneous belief that all of their reserves are burnable, we feel that the endowment would be better invested elsewhere. The benefits of divestment could also reach far beyond its environmental impact. Divestment would generate positive press for the school, potentially eliciting better relations with the local community, increased alumni and outside donations, and an even better reputation amongst potential applicants and their families. Furthermore, divesting from fossil fuels is the most important action Head-Royce can currently take to fight climate change. According to a University of Oxford study published this October, "the outcome of the stigmatisation process, which the fossil fuel divestment campaign has now triggered, poses the most far-reaching threat to fossil fuel companies" (Ansar et al. 2013). The dozens of institutions and municipalities that have already pledged to divest, including the cities of San Francisco and Seattle, have begun the process of removing the social license of the fossil fuel industry and drawn attention to the carbon bubble. A pledge from you in the coming year would make Head-Royce the first secondary school in the country to divest from fossil fuels, constituting another important step in the movement and inspiring our peer institutions to follow suit. You have a fiduciary responsibility to the members of our community, an obligation that we know you do not take lightly. That obligation entails making the best choices for the future of Head-Royce’s students. Addressing climate change is the most important action you can take to safeguard our futures. We therefore request that the investment committee immediately freeze any new investment in fossil fuel companies, even if that means moving the endowment into different mutual funds, and divest within five years from direct ownership and from any commingled funds that include fossil fuel public equities and corporate bonds. Sincerely, Dylan Carlson and Thomas Peterson Upper School Student Body Co-Presidents
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    Created by Thomas Peterson
  • Phillips Exeter Academy: Go Fossil Free!
    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. As public pressure to confront climate change builds, we call on Phillips Exeter Academy 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. The Academy, according to its Environmental Mission Statement, must foster a culture of environmental awareness, and educate the community about sound environmental practices. Such action would fill our environmental requirements and responsibilities. Divestment will not only be the right decision for our institution's financial portfolio, but also for the wellbeing of its graduating classes, who deserve the opportunity to graduate with a future not defined by climate chaos.
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    Created by Justin Landowne
  • Franklin and Marshall College: Go Fossil Free!
    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 $50 billon 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. As public pressure to confront climate change builds, we call on Franklin & Marshall College 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 Franklin & Marshall College will not only be a sound decision for our institution’s financial portfolio, but also for the wellbeing of its current and future graduating classes, who deserve the opportunity to graduate with a future not defined by climate chaos.
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    Created by Spencer Johnson