Divest UNF & David Jaffee (COAS):
David Jaffee provided the committee with a background to the issue regarding investment in fossil fuels, and why he feels that the Faculty Association should pay more attention to where the university is investing. He indicated that the university has values that were defined by a Task Force several years ago. One recommendation was that the university apply their values to its endowment fund. However, UNF Foundation Board established a socially responsible investment policy that endorses an institutional neutrality. Jaffee would like the Faculty Association to advocate for the establishment of a Social Responsibility Investment Advisory Committee that would provide transparency to the investment process and recommend applying the university’s values to its investment portfolio.
The student group DivestUNF then gave a presentation that explained their history, recent activities, and their request. Divest UNF for Climate Justice is a student-led initiative calling the University of North Florida to divest the endowment from fossil fuel extraction companies. Their group was established because it was their wish to maintain the values of the university that drew/attracted them to UNF. They are asking President Delaney, the UNF Board of Trustees, and the UNF Foundation to:
Immediately freeze any new investment in the largest 200 coal, gas and oil companies that own oil, gas and coal reserves that represent a significant percentage of the entire global market.
Divest from direct ownership and from any commingled funds that include fossil-fuel public equities and corporate bonds within 5 years.
Diligently seek ethical reinvest options in clean energy solutions and the Jacksonville community.
They request the Faculty Association consider drafting a letter of support.