Urge the University of California to divest from fossil fuels
- Posted to University of California Fossil … by Emily Williams
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...
…8,165 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"[1]. 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!
Resources:
[1] "Sustainable Practices Policy": http://www.ucop.edu/ucophome/coordrev/policy/sustainable-practices-policy.pdf
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Update #4
Posted by Emily Williams (Campaign Leader) on May 15Hello 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...
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Update #3
Posted by Emily Williams (Campaign Leader) on Mar 16Hello!
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,...
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Update #2
Posted by Emily Williams (Campaign Leader) on Mar 13Wow! 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?!...
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Update #1
Posted by Emily Williams (Campaign Leader) on Mar 1Thank 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...
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