Update #5 ·

Update on May 31, 2013

BIG NEWS! UC Santa Barbara's Faculty Senate just passed a resolution to urge the UC Regents to divest! The resolution is formally entitled, "A Resolution Calling on the Regents to Divest the UC's General Endowment Pool of Fossil Fuel Holdings." What does that mean? Now the precedence has been set. Other faculty senates can now pass resolutions similar to UCSB's, which will give the UC system huge momentum to push on to success!

The press release is copied below:

UCSB Faculty Senate Votes in Favor of Fossil Fuel Divestment

Thursday, May 30, in an
historical move, the UCSB faculty senate voted in favor of fossil fuel
divestment; the first in the University of California system to do so. Emily
Williams UCSB Fossil Free Coordinator said, "We were just so overwhelmed, it
was incredible. You could just feel the happiness and pride of the people I've
been working with for the last year." The debate in senate was fiercely fought
but the determination, the competence, and the persuasiveness of the Fossil
Free divesters won out. UCSB has set
a precedent that faculty senates across the UC system, and the nation, can and
will follow now. This is the latest in a series of victories for the
California-wide divestment movement. Just earlier this week Stanford University's
student government also voted in favor of fossil fuel divestment. As of now
seven UC student governments have voted in favor of divestment. The conviction
that "if it is wrong to wreck the climate, then it is wrong to profit from that
wreckage" is spreading across the country, and is inspiring thousands of people
to do what science urges and morality demands. The Fossil Free Movement has
seen great success, exhibited once again with this milestone victory. With
science on their side, with financial expertise on their side, and most
importantly with morality on their side, the Fossil Free movement is becoming a
truly formidable force.  John Foran, a
professor at UCSB, stated "[it] was a historic day for the University of California,
and for UC Santa Barbara.  On that day we took a big step toward making
the way we think about the long-term economic health of the university
consistent with its strong commitment toward building a sustainable future, and
saw the faculty agree with a far-sighted student call to rein in the obscene
power of the fossil fuel industry to continue to destroy the planet, corrupt
our political system, and profit at the expense of ensuring an unlivable planet
for generations to come.  I hope that this message ripples out far and
wide, to colleagues at the other UCs, to academic communities everywhere, and
to the global climate justice movement whose goals we support."

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