Responsible Endowments Coalition
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REC is a student-founded, student-driven organization that believes that colleges and universities can create a more just and sustainable world by investing their collective $400 billion in more socially and environmentally responsible ways.
1 climate change research provider by institutional investors, in collaboration with the Climate Accountability Institute, today reveals that 71% of all global GHG emissions since 1988 can be traced to just 100 fossil fuel producers. This group is the source of 635 billion tonnes of GHGs emitted since 1988, the year human-induced climate change was officially recognized. The data also shows that 32% of these legacy emissions come from companies that are public investor-owned, highlighting the power of investors in the transition to a sustainable economy." Those left holding investments in fossil fuel companies will find their investments becoming more and more risky over time.
Congratulations to the activists at York University! "The York University Advisory Committee on Responsible Investment (YUACRI) has voted to recommend the University's divestment from arms manufacturers and fossil fuels. YUACRI was established in 2012 to integrate environmental, social and corporate governance (ESG) considerations into investment management processes and ownership practices concerning York's $413 million endowment fund. Nina Macapinlac began supporting York endowment activists in 2016.
"Columbia University, New York, will divest certain coal industry investments in support of addressing climate change, Lee Bollinger, the university president, said in a message posted on the university’s website. University trustees have agreed to divest from companies deriving more than 35% of their revenue from thermal coal production, he said. 'Divestment of this type is an action the university takes only rarely and in service of our highest values,' Mr. Bollinger said in a statement Monday. ' Congratulations to Columbia Divest for Climate Justice and REC organizers who have long supported this campaign!
"Barnard College’s board of trustees voted to divest from energy companies that deny climate change, putting into question the $286 million endowment’s relationship with its money manager Investure. The board approved the measure Saturday, saying the college will 'distinguish between companies based on their behavior and willingness to transition to a cleaner economy.' “I have been involved with divestment movements for 3 years now, and every step of the way I realize more and more how deeply entrenched the fossil fuel industry is with almost every kind of institution, including our own college endowments. The road block to divestment is the desire to make profits in the short-run, but the argument for divestment is that climate inaction will destroy all means of profits in the long-run.”