by Prescott College, Arizona, EcoWatch, March 2, 2014
The Prescott College Board of Trustees has approved a landmark fossil fuel divestment
resolution, making a commitment to shift endowment investments from the
200 largest fossil fuel corporations to clean, green energy companies
and other socially responsible investments aligned with institutional
values. The college is proud to stand behind this resolution as a part
of a long-standing commitment to environmental responsibility and social
justice.
The divestment initiative at Prescott College was first developed by
recent graduate Kara Kukovich, who prepared a report on the ethical,
financial and environmental reasons for fossil fuel divestment at
Prescott College. The proposed action gained widespread support from
students, faculty, staff and executives at the college, and was approved
by all major internal governance committees within a few short months.
“We are excited about the Divestment Resolution, it reaffirms our
commitment to environmental responsibility and social justice,” said
Interim President John Van Domelen, “These have been our core values
from since inception nearly a half century ago, long before the
emergence of the sustainability movement.”
The resolution establishes an investment filter to remove the largest
200 fossil fuel corporations listed by the Carbon Tracker Initiative,
over the next three years, as a means to apply core values with a goal
of reducing risk while increasing financial and social return on
investment. The college also included a clause to engage in advocacy
encouraging current investment managers to develop fossil free
investment fund products that would also serve their other clients.
Divestment of fossil fuel investments builds on previous climate
action, as the college was one of the first signatories to the American
College and University Presidents’ Climate Commitment, the higher
education protocol for reducing institutional and global greenhouse gas
emissions. A long-term Climate Action Plan is also in final stages of
development, with a comprehensive series of projects to minimize
greenhouse gas emissions through investments in energy conservation,
renewable energy, and carbon offset origination.
Earlier this year, the college was awarded LEED Platinum
certification from the U.S. Green Building Council for a new, high
efficiency student housing facility, the Village, that has recently been
confirmed as “net zero” for electricity—generating more solar power
than it consumes for heating, cooling, plug loads and lights, while
powering other campus buildings and reducing the overall campus carbon
footprint.
“Divestment is a next step that makes sense for our Prescott
College’s ethos,” said James Pittman, Prescott College alum and director
of sustainability, “We are fulfilling our mission and changing history,
encouraging students to think critically and act ethically with
sensitivity to both the human community and the biosphere.”
Prescott College was one institution among hundreds in public and private sectors considering divestment for climate action,
and now proudly joins a pioneering group of a dozen other colleges and
universities, seven major metropolitan cities and 15 other
municipalities, two counties and more than 20 religious institutions
that have committed to a divestment resolution.
Global climate change
from human-caused greenhouse gas emissions is a tremendous risk source
for humanity, with potential to significantly disrupt economic, social
and environmental stability on the planet. Divestment campaigns are a central strategy for social change in response to climate change, and are being promoted by 350.org and
other organizations. These strategies are based on success of similar
approaches used in the 1970s and 1980s to encourage the South African
government to shift from Apartheid to policies based on racial equality
and fair governance.
http://ecowatch.com/2014/03/01/prescott-college-fossil-fuel-divestment/
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