On November 26 at 11:00 AM PST (1:00 PM CST / 2:00 PM EST), Bill McKibben from 350.org and Billy Parish form Mosaic will be talking about the transition from a fossil fueled economy to the sustainable economy of the future. The Google Hangout will be moderated by Green for All’s Phaedra Ellis-Lamkins.
You can join the Hangout by following this link: https://plus.google.com/u/0/events/c0kkngjk7fq2livm5qi33ne7j0g.
Reinvest Vanderbilt in The Tennessean
Reinvest Vanderbilt Co-Chair Sommers Kline and SPEAR’s Vice President of Recycling Patrick Burton have a great letter in The Tennessean calling on the Board of Trust to take up reinvestment at their November 2013 meeting. “We are asking the Board of Trust to make a formal pledge to strive for a socially responsible endowment, including a promise to no longer invest directly in fossil-fuel stocks. If there are currently no direct investments of the Vanderbilt endowment in fossil-fuel stocks, the pledge would be largely preventive for future investments. If there are direct investments in fossil-fuel stocks, it probably would be an insignificant portion of the endowment.”
Thanks SPEAR for the awesome Reinvest Vanderbilt banner on the Rand Wall
Divest for success
SPEAR’s VP of Publicity Zach Elliott writes in Inside Vandy that reinvestment will help Vanderbilt “redefine our legacy as a campus with a conscience.”
Reinvest Vanderbilt was happy to welcome 350.org and the Southern Energy Network to campus for a divestment training.
Big oil is not ready
Reinvest Vanderbilt board member Skyler Hutto writes that oil companies’ investments in alternative energies have been insufficient, and until they get serious about becoming true energy companies, responsible investors should not hold their stocks. “In social and political movements of past decades, universities have taken the lead in asking for a change as investors. Each institution controls millions if not billions in capital, and more importantly, these institutions have loud voices. In the ‘80s, colleges divested from South African companies to oppose Apartheid. In the ‘90s, they divested from tobacco companies because of the irresponsible practices of those businesses. Now it is time for universities, including Vanderbilt, to divest from fossil fuel companies that refuse to seriously add green energy to their portfolio.”
Don’t hate the player, change the game
Reinvest Vanderbilt Co-Chair Mike Diamond writes that bad incentives, not bad people, are to blame for the climate crisis, and the best way for universities to help fix these incentives is through divestment. “By selling off any equities the endowment directly holds in coal and oil and by committing to not purchase any new ones, Vanderbilt could send a clear message that fossil fuel stocks are not sustainable investments. It’s not because these companies set out to be evil; they’re just responding rationally to the incentives they face. It is up to us to change these incentives. It is up to us to ensure that sustainability is the default policy. It is up to us to divest.”
Simply, we ought to divest
Reinvest Vanderbilt Co-Chair Katie Ullmann explains how reinvestment is only logical (literally) in The Vanderbilt Hustler.
Reinvest Vanderbilt board member Molly Corn makes the case for reinvestment as “just business” in The Vanderbilt Hustler. “Those who choose to invest in clean energy early will reap generous rewards in the future, but they are also choosing to responsibly limit carbon dioxide emissions that are currently having disastrous effects on the environment. Successful investment requires responsibility: Almost all financial disasters can be linked to overly available credit and speculation. The finiteness of fossil fuels provides us a unique opportunity in which the altruistic option will inevitably become the economical option, so just business can truly be just business.”
The Conservative Case for Reinvestment
Reinvest Vanderbilt Co-Chair Mike Diamond makes the conservative case for divestment in The Vanderbilt Torch, Vanderbilt’s conservative and libertarian commentary magazine. Whatever your political beliefs, we can all agree that protecting our planet is a top priority.