Katic: UBC’s fossil fuel investments
Does this bother you?
That’s over 4.5 million in oil and gas investments. (Read the full report [pdf]).
Bill McKibben thinks we might want to change this:
If their college’s endowment portfolio has fossil-fuel stock, then their educations are being subsidized by investments that guarantee they won’t have much of a planet on which to make use of their degree. (The same logic applies to the world’s largest investors, pension funds, which are also theoretically interested in the future – that’s when their members will “enjoy their retirement.”) “Given the severity of the climate crisis, a comparable demand that our institutions dump stock from companies that are destroying the planet would not only be appropriate but effective,” says Bob Massie, a former anti-apartheid activist who helped found the Investor Network on Climate Risk. “The message is simple: We have had enough. We must sever the ties with those who profit from climate change – now.”
