The combination of divesting resources from fossil fuels and investing in green technologies and renewable resources is a necessary and viable step toward reducing climate change and preserving our planet.
Divestment Definition
Divestment, in the industrial sense, is the reduction of some asset, usually money, for ethical, political, or financial objectives. The global divestment movement is pushing the idea of transferring financial investment away from fossil fuels and into renewable energy sources like solar and wind. This movement began in earnest two years ago and has since gained considerable traction. This grass roots, youth lead initiative began at university campuses and has spread to religious organizations, large corporations, and entire cities. Overall, 60 religious organizations, 20 colleges and universities, including Stamford, and 26 American cities have either divested or called for divestment. (5)
Divestment is a proven political and environmental technique that has been used against big tobacco, and most notably, South African Apartheid. But with major universities, like Harvard ($36.4 Billion endowment)(4), refusing to eliminate or even reduce investment in oil, gas, and coal companies, what is the future of this movement? Events like Global Divestment Day are continuing to put the political and media spotlight on this issue to drive change and awareness.
Divestment Day
Global Divestment Day was a worldwide event Feb 13-15 aimed at demanding divestment of fossil fuels and investment in renewables from governments, universities, and financial and religious institutions. There were 450 events held across 60 countries. The Facebook event page has 3.5k confirmed attendees while actual attendance was reportedly in the tens of thousands . These events included sit ins, rallies, vigils, speak-outs, and parades. (3)
Divestment Definition
Divestment, in the industrial sense, is the reduction of some asset, usually money, for ethical, political, or financial objectives. The global divestment movement is pushing the idea of transferring financial investment away from fossil fuels and into renewable energy sources like solar and wind. This movement began in earnest two years ago and has since gained considerable traction. This grass roots, youth lead initiative began at university campuses and has spread to religious organizations, large corporations, and entire cities. Overall, 60 religious organizations, 20 colleges and universities, including Stamford, and 26 American cities have either divested or called for divestment. (5)
Divestment is a proven political and environmental technique that has been used against big tobacco, and most notably, South African Apartheid. But with major universities, like Harvard ($36.4 Billion endowment)(4), refusing to eliminate or even reduce investment in oil, gas, and coal companies, what is the future of this movement? Events like Global Divestment Day are continuing to put the political and media spotlight on this issue to drive change and awareness.
Divestment Day
Global Divestment Day was a worldwide event Feb 13-15 aimed at demanding divestment of fossil fuels and investment in renewables from governments, universities, and financial and religious institutions. There were 450 events held across 60 countries. The Facebook event page has 3.5k confirmed attendees while actual attendance was reportedly in the tens of thousands . These events included sit ins, rallies, vigils, speak-outs, and parades. (3)
Divestment at Northeastern
Northeastern’s own campaign to divest from fossil fuels is run by the DivestNU student organization.
“Divest Northeastern University (DivestNU) is a coalition of almost 20 student groups committed to a university-wide campaign advocating that the university divest its endowment from the fossil fuel industry.” (6)
DivestNU used global divestment day, and its proximity to Valentines Day, to focus on faculty engagement. They distributed valentines to faculty promoting their support of an open letter to the university. These notes read, “roses are red, violets are blue, the ice caps are melting, and we need you.”
For more information, or to get involved visit their website:
http://divestnu.org/
Northeastern’s own campaign to divest from fossil fuels is run by the DivestNU student organization.
“Divest Northeastern University (DivestNU) is a coalition of almost 20 student groups committed to a university-wide campaign advocating that the university divest its endowment from the fossil fuel industry.” (6)
DivestNU used global divestment day, and its proximity to Valentines Day, to focus on faculty engagement. They distributed valentines to faculty promoting their support of an open letter to the university. These notes read, “roses are red, violets are blue, the ice caps are melting, and we need you.”
For more information, or to get involved visit their website:
http://divestnu.org/
http://divestnu.org/wp-content/uploads/2015/02/[email protected]
More Information and Getting Involved:
1. #bankonus : Divestment Escalation Pledge
https://docs.google.com/a/husky.neu.edu/forms/d/1DeT1fT_guq0A6SmPzDy0yFT1CRrS0GYHQgv4HlsXyGk/viewform
2. http://www.huffingtonpost.com/bill-mckibben/why-you-should-join-globa_b_6670628.html
3. http://gofossilfree.org/wrap-up/
4. http://www.bostonglobe.com/metro/2015/02/12/harvard-sit-protests-school-investment-fossil-fuels/ScEzi0yUch67nfDtZ8NX8L/story.html
5. http://www.huffingtonpost.com/dave-pruett/global-divestment-comes-o_b_6526176.html
6. http://divestnu.org/
1. #bankonus : Divestment Escalation Pledge
https://docs.google.com/a/husky.neu.edu/forms/d/1DeT1fT_guq0A6SmPzDy0yFT1CRrS0GYHQgv4HlsXyGk/viewform
2. http://www.huffingtonpost.com/bill-mckibben/why-you-should-join-globa_b_6670628.html
3. http://gofossilfree.org/wrap-up/
4. http://www.bostonglobe.com/metro/2015/02/12/harvard-sit-protests-school-investment-fossil-fuels/ScEzi0yUch67nfDtZ8NX8L/story.html
5. http://www.huffingtonpost.com/dave-pruett/global-divestment-comes-o_b_6526176.html
6. http://divestnu.org/