University of Utah says no to fossil fuels

By Ryan Pleune

Correction: Mr. Pleune is not a representative of the University of Utah or the U of U Academic Senate; his views are his own.
U of U Academic Senate says YES to DIVEST and to align all investments with the principles and values of the University: The University of Utah Academic Senate made history in its vote to divest the U’s endowment from fossil fuel stocks today and to create a permanent Socially Responsible and Environmentally Sustainable Investment Advisory Committee to inform all investments so that they align with sustainability and social justice considerations.
The University of Utah will be the largest institution, followed by University of Hawaii, to join an international movement of over 500 institutions divesting over $3.4 trillion in 200 companies listed in the fossil free index. A recent addition to this list is the Leonardo Museum and the U of U made motions today to join this effort.
The question of divestment has been under debate at the University for over 4 years when students collected over 1200 signatures petition the president to divest. U of U Senior Matt Kirkegaard was a sophomore when he started the petition and he says “This recommendation for fossil fuel divestment represents a historic step against climate change as divestment escalations ramp up at universities across the country. I am proud the Academic Senate has chosen to reject fossil fuels and instead invest in the futures of its students.”
The University of Utah Academic Senate has been researching for 2 years ways to divest its endowment from fossil fuels with the recommendation from last year’s committee to create “By September 2016, the adoption of a policy clearly delineating that the principles and values of the University will guide and inform all investments with a view towards incorporating environmental sustainability and social justice considerations.”
Today’s vote is a resolution taking a first step guiding a few principles and values of the University and how they should influence divestment from fossil fuels: “Continued investment in the fossil fuel industry is risky business and incongruent with climate science and incongruent with the University’s education, sustainability and leadership values. Divestment is our moral, ethical and fiduciary responsibility.”
The Academic Senate voted 44 to 40 with 2 abstentions in favor of divestment. While President Pershing has yet to approve the decision, the University of Utah operates under a shared governance procedure and “The faculty has a right to a meaningful role in the governance of the university; . . . it has a right to participate in decisions relating to the general academic operations of the university including budget decisions and administrative appointments.” Faculty have exercised their right under the banner of sustainability education claiming that Divestment is our moral, ethical and fiduciary responsibility. We have no right to invest in the destruction of the climate our students will inherit. They emphasize that this will not directly cut any scholarships and research money coming from the fossil fuel industry and it does not prohibit charitable donations from the fossil fuel industry. In fact, as a matter of reparations for climate change and for obfuscating climate science the industry is encouraged to donate more money towards sustainability research and student scholarships.
Last fall another activist group affiliated with 350.org submitted a petition of over 54,000 signatories asking the Natural History Museum of Utah (an affiliate of the University of Utah) to divest from fossil fuels.
Activists with that campaign expect the director of the Museum, Sarah George, to issue a statement of recognition and support similar to the one issued by the Leonardo early last week.