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Agenda Item FA 19-47

Submitted by the Faculty Affairs Committee

Faculty Association Resolution on Fossil Fuel Divestment

10/03/19: Adopted

Faculty Association Resolution on Fossil Fuel Divestment


Whereas, the United Nations Intergovernmental Panel on Climate Change, the U.S. National Climate Assessment report, and the overwhelming scientific evidence are now pointing to the urgent need to address the rapidly changing climate due primarily to the human combustion of fossil fuels and resultant emissions of greenhouse gases; and

 

Whereas, the University of North Florida lists as one of its six values “Responsibility to the Natural Environment”; and

 

Whereas, the University of North Florida has formally signed on to the Sustainability Tracking,

Assessment & Rating System (STARS) and the American College & University Presidents' Climate Commitment (ACUPCC) both of which include among its rating system and tangible actions endowment investment policies aimed at sustainability and climate-friendly investment; and

 

Whereas, the faculty at major institutions of higher education (e.g. Harvard, Cornell, University of Maine, University of Buffalo) are now taking the lead in communicating (through petitions, open letters, and faculty Senate votes) their desire for divestment of endowment funds from fossil fuel corporations; and finally

 

Whereas, the UNF Student Senate in Fall 2016 passed a resolution brought by the student organization DivestUNF supporting divestment from fossil fuel corporations;

 

Therefore, Be It Resolved that The Faculty Association of the University of North Florida, in support of the spirit and substance of the DivestUNF resolution, calls upon the UNF Board of Trusties and the Foundation Board to immediately freeze any new direct investment in the largest 200 coal, gas and oil companies; divest from direct ownership and from any commingled funds that include fossil-fuel public equities and corporate bonds within 5 years; and diligently explore opportunities for reinvestment of such funds in clean, alternative, renewable energies and sustainable economic activities.