Urge the University of California to divest from fossil fuels
To: Marie N. Berggren, Chief Investment Officer, Vice President-Investments, and Acting Treasurer
The earth is warming and we need to act fast to stop the devastating trend. The average temperature in the U.S. has increased by about 1.5 degrees Farenheit since 1895, with more than 80% of the increase occurring since 1980 . The extraction and burning of fossil fuels are clearly and...…
The earth is warming and we need to act fast to stop the devastating trend. The average temperature in the U.S. has increased by about 1.5 degrees Farenheit since 1895, with more than 80% of the increase occurring since 1980 . The extraction and burning of fossil fuels are clearly and directly associated with greenhouse gas emissions linked to climate change. While claiming to be responsible stewards of the environment, the University of California system continues to invest in fossil fuels through the General Endowment Pool. All investments in fossil fuels contribute to fundamentally unsustainable practices, both in terms of climate change and toxic pollution, which threaten the social and environmental wellbeing of all societies.
Leadership in sustainability requires that an institution enact policies beyond what other similar institutions have put in place. In the past, by divesting from Sudan, South Africa, and tobacco, the University of California endorsed the view that in holding investments in an industry, the institution is partially accountable for the impacts of the decisions and actions of said industry. We urge the Regents of the University of California to take the same stance with climate change and act as leaders by divesting from fossil fuels.
 "National Climate Assessment and Development Advisory Committee (NCADAC) Draft Report," 11 Jan 2013. U.S. Global Change Research Program.
8,229 people signed the petition
The University of California currently has investments in the fossil fuels industry, including coal mining and burning, petroleum extraction, and natural gas extraction. The Associated Students of California call upon the Regents of the University of California, in its commitment to leadership in sustainability, to divest from fossil fuels by taking the following actions regarding the General Endowment Pool (GEP):
Instruct asset managers to stop any new investment in fossil fuel companies; andTake appropriate steps to ensure that, within 5 years, none of its directly held or commingled assets include holdings in fossil fuel public equities and corporate bonds as found on the Carbon Tracker list; andRelease quarterly updates, both detailing progress made towards full divestment and providing information on the holdings of the endowment pool and of index funds within the GEP.
The University of California has affirmed its commitment to "responsible stewardship of resources and to demonstrating leadership in sustainable business practices," and to having a "net zero impact on the Earth's climate". We urge the Regents to abide by this statement and divest from fossil fuels.
And on May 16, 2013, we--the students of the University of California--went going to the Regents to ask them to divest! With the presence of every UC, the multitude of signatures on our petition, and the kind of support and media this movement has gotten so far, we made an impression!
July 14-16, we're going again to the Regents to present to them a report on why they should divest.
Then again in September we'll make our presence known as we try to get on the agenda!
 "Sustainable Practices Policy": http://www.ucop.edu/ucophome/coordrev/policy/sustainable-practices-policy.pdf
Invite friends to sign the petition
Thanks for signing the petition!
Spread the word by inviting friends
Selected friends ()
0 of 1 batches sent
Check the "Don't ask again" box below and you won't have to confirm the next time you send invitations