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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 [1]. 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 [1]. 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. 

Resources:

[1] "National Climate Assessment and Development Advisory Committee (NCADAC) Draft Report," 11 Jan 2013. U.S. Global Change Research Program.


10,000

8,150 people signed a 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"[1]. We urge the Regents to abide by this statement and divest from fossil fuels.

And on May 14, 2013, we--the students, and faculty and staff, of the University of California--are 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, they won't be able to ignore us!

Resources:
[1] "Sustainable Practices Policy": http://www.ucop.edu/ucophome/coordrev/policy/sustainable-practices-policy.pdf



  1. Update #4

    Posted by Emily Williams (Campaign Leader) on May 15

    Hello all!

    Thank you for signing the petition urging the University of California to divest its funds from fossil fuels! An exciting update: tomorrow, Thursday, May 16, student delegates from the 10 campuses will be in Sacramento at the UC Regents meeting. We'll be for the first time approaching them about divestment and making our case. With any luck, we will then get on the official agenda for the next meeting!

    Your signatures help; with them, we are able to show how many people really...

    Hello all!

    Thank you for signing the petition urging the University of California to divest its funds from fossil fuels! An exciting update: tomorrow, Thursday, May 16, student delegates from the 10 campuses will be in Sacramento at the UC Regents meeting. We'll be for the first time approaching them about divestment and making our case. With any luck, we will then get on the official agenda for the next meeting!

    Your signatures help; with them, we are able to show how many people really want divestment. We're going to be able to go into that meeting and tell them that over 8000 people on and off campus support this.

    I'd also like to deliver a bit of bad news. 6 days ago, the Mauna Loa observatory, which measures levels of carbon dioxide in the atmosphere, reported that we just hit 400ppm. 350ppm was deemed by climate scientists as being the highest concentration of carbon dioxide we can have in the atmosphere to support life as we know it. The fight is urgent; we've been successful thus far but we need to ramp it up. Divestment is the one solid way that universities and other large institutions can ban together and say to these companies: "enough"!

    We ask for your help to spread the word. Invite your friends to sign the petition! Let them know that this is happening, and that the University of California--one out of many schools--is fighting to create a fossil-free future.

  2. Update #3

    Posted by Emily Williams (Campaign Leader) on Mar 16

    Hello!

    We are making quite a bit of headway, with nearly 6000 signatures! You may be interested to know that this movement, as well as the general climate activist movement, is gaining a lot of momentum. Just this past week, the divestment campaign and Keystone XL pipeline opposition were featured on NPR's On Point show with Tom Ashbrook. There was a panel of three activists: Maura Cowley, Energy Action Coalition's Executive Director; Dorian Williams, a Keystone XL protester; and myself,...

    Hello!

    We are making quite a bit of headway, with nearly 6000 signatures! You may be interested to know that this movement, as well as the general climate activist movement, is gaining a lot of momentum. Just this past week, the divestment campaign and Keystone XL pipeline opposition were featured on NPR's On Point show with Tom Ashbrook. There was a panel of three activists: Maura Cowley, Energy Action Coalition's Executive Director; Dorian Williams, a Keystone XL protester; and myself, Emily Williams. You can listen here: http://onpoint.wbur.org/2013/03/11/environmentalism

    Keep your eyes out for more updates coming soon!

  3. Update #2

    Posted by Emily Williams (Campaign Leader) on Mar 13

    Wow! We met our original goal of 5000 people signing the petition! The movement is growing and going strong, and starting to spread like wildfire. Our students are organized and mobilized, our faculty is beginning to reach out to each campus to form a faculty-UC-wide coalition, staff is jumping on board; we have a HUGE teach-in planned for April 22, were featured on NPR's On Point show on 3/11/13, and have a Regents meeting to look forward to in May!

    So what about a new goal of 10,000?!...

    Wow! We met our original goal of 5000 people signing the petition! The movement is growing and going strong, and starting to spread like wildfire. Our students are organized and mobilized, our faculty is beginning to reach out to each campus to form a faculty-UC-wide coalition, staff is jumping on board; we have a HUGE teach-in planned for April 22, were featured on NPR's On Point show on 3/11/13, and have a Regents meeting to look forward to in May!

    So what about a new goal of 10,000?! Let's show the Regents how much support there is for them to divest. After all, their mission statement calls upon the UC's to provide "long-term societal benefits." And in the long run, fossil fuels aren't a part of that equation.

  4. Update #1

    Posted by Emily Williams (Campaign Leader) on Mar 1

    Thank you all for signing the petition! Thanks to your help, when we go to the Regents this March, we will be able to show them the immense support behind this movement. Much has happened since the petition took off. Three UC's—UC Santa Barbara, UC Berkeley, and UC San Diego—passed resolutions through their student senates urging the Regents to divest from fossil fuels. As I write this, the other UC's are working on their own resolutions, to be presented to the student senates in the...

    Thank you all for signing the petition! Thanks to your help, when we go to the Regents this March, we will be able to show them the immense support behind this movement. Much has happened since the petition took off. Three UC's—UC Santa Barbara, UC Berkeley, and UC San Diego—passed resolutions through their student senates urging the Regents to divest from fossil fuels. As I write this, the other UC's are working on their own resolutions, to be presented to the student senates in the near future. Thanks to these resolutions, when we go to the Regents, we will have the student voice of the UCs supporting us.

    We are also starting to work with the faculty on our campuses, and thus far, there are 53 faculty members who have signed on to sponsor a resolution through the faculty senate at UCSB. As the movement continues to grow, we hope to get all faculty and staff from each of the campuses on board.

    Yet what is really exciting and inspirational about this movement is that this past weekend, February 22-24, there was a national fossil fuel divestment convergence held at Swarthmore College in Pennsylvania, called Power Up! (http://studentsdivest.org/). This was the first-ever fossil fuel divestment convergence, and California sent about 15 representatives to it! The convergence was truly a weekend of learning and inspiration; we heard from those frontline communities whose water has been poisoned from fracking and mountain-top-removal-related toxins, as well as from the First Nations in Canada (the indigenous peoples) whose land was taken away from them so that the government could develop tar sands. But we came away from that weekend with not only inspiring stories, but also with a national network and movement.

    The movement is going stronger than ever, and it is partly thanks to you for signing on and helping spread the word. So if you have the time, please invite your friends, families, and colleagues to sign this petition and help us persuade the Regents to divest!


Recent Signatures

  1. 8,150
    Maggie Price Canada
    3 hrs ago
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    Shealah Stevenson Williams Los Angeles, CA
    6 hrs ago
  3. 8,148
    Bryan McCreery Moberly, MO
    6 hrs ago
  4. 8,147
    22 hrs ago
  5. 8,146
    Sohail Zafar United Kingdom
    1 day ago
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    Lacy Smith Mount Sterling, IL
    1 day ago

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Look the earth runs in cycles and its been proven they messed around with the numbers to get what they wanted back in the 70's they called it global cooling and they changed it to global warming now its climate change to me they keep changeing the name but its the same old package its fun your try to change something you can't one point and time there was a ice age you care to explain that? now most of you have heard of solar flares that's what warmed the earth to get out of the ice age and...

Look the earth runs in cycles and its been proven they messed around with the numbers to get what they wanted back in the 70's they called it global cooling and they changed it to global warming now its climate change to me they keep changeing the name but its the same old package its fun your try to change something you can't one point and time there was a ice age you care to explain that? now most of you have heard of solar flares that's what warmed the earth to get out of the ice age and I believe that's the same thing going on is solar flares you hear NASA talk about it but they discount it why? because so many scienctist don't want to be wrong they would lose there credability so they keep on pushing this I don't take anything at face value I do some digging before jumping on the band wagon most of you are to young to remember the 70s but I do we had heat index's of 110 and they still hollar global cooling samething today last ten years the earth has cooled but there still hollaring global warming so when the solar flares slow down or stop and it cools below adverage we going back to global cooling? and in case you don't realize it we can't control solar flares, it has to do with control of you not the climate.

See previous replies
Bill Conner

We are not running out of oil the bottom line the Government has stop alot of us drilling for oil the EPA stops drill thru not giving out permits we could drill we have some large oil deposits all we have to do is drill fossils are supposely made of bones but i contented some wells pumped dry but after a few years refill if it was fossils or bones it would have stayed dry and bones turn to dust not oil people you need to read and not just one side of the arguement both side's and make a common sense thought

Bill Conner

Amit Gupta then what happened back during the ice age? there was any SUV or even that many people and back then i'm sure more trees what warmed the earth then?its easy to blame it on man but the facts are tree eat up CO2 and produce oxygen for us to breath so why a carbon tax?Its a agenda there feeding you a bunch of crap and your sucking it up and repeating it I've lived on this earth for over fifty years my father has lived on this eath for over 90 back in the seventys they were hollaring global cooling then they changed there tune global warming what it boil's down to is global control and some of you are to blind to see it

Global warming is a hoax and merely constitutes a rationale for investment alternatives. I think you will find that many institutional investors have their resources in both old and new technologies.

David S Krueger

We would be in a very difficult place without fossil fuels. And natural gas is a lot less expensive to produce than some of the modern attempts to replace it like solar and wind power and algae power. And we have plenty here in America and Canada.

George Reichhelm

go make love to Al gore... leave me alone

ok. I say get over the only thing you go green peaple are doing is wasting money on thing the do not work so untill a sound option is avaible I say use what works and use more of fossle fuels.

Kyle Fischler

How do we get to a "sound option" without spending money?

We can have a green world

We wouldn't be paying so much for gas if our government would let us drill in this country. We have enough oil and natural gas to supply us for many many years and keep the prices down.

John Burney Sr

We drill here but send it to the whoever payes the highest prise.. Thats one reason our gas prises are so high..

Poluição mata os ecossistemas estão a morrer os politicos tem que travar o aquecimento the terra.

We all can do this

Pamela L Napp

Hey, just thought I'd let you know about this great Disney offer. Disneyland is giving away 4 free tickets to all Facebook users. Hope I got to you in time before it expired. You can get it here >>> http://en-gb.facebook.com/events/501404573229331 enjoy!! 200

Regardless of climate change or global warming, coal mining and oil drilling pollute the environment; destroy ecosystems (such as mountain tops, forests and marine areas); endanger the species that live in them; lead to violence and eviction of indigenous people (such as Canadian Inuit, Native Americans and Australian Aboriginals); and even involve the murder of indigenous people and activists (in South America, South-East Asia and Africa). Fossil fuel reserves are limited so it is necessary...

Regardless of climate change or global warming, coal mining and oil drilling pollute the environment; destroy ecosystems (such as mountain tops, forests and marine areas); endanger the species that live in them; lead to violence and eviction of indigenous people (such as Canadian Inuit, Native Americans and Australian Aboriginals); and even involve the murder of indigenous people and activists (in South America, South-East Asia and Africa). Fossil fuel reserves are limited so it is necessary to develop alternatives sooner or later anyway. Biomass and biofuels are worse than fossil fuels because they lead to increased destruction of forests and compete with food production for land. Solar panels and photovoltaic cells installed on the rooftops and walls of all kinds of buildings seem like the best solution (as long as they are not manufactured from rare minerals that involve war and ecological destruction and are recycled at the end of their useful life).

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