An email was sent out to the DU community from Chancellor Rebecca Chopp and Board of Trustees Chair Doug Scrivner to update students on the Board’s decision to divest from fossil fuels on Tuesday, Jan. 24. Their decision, the email concluded, was not to divest.
The email stated: “Regarding divestment, the Board adopted the task force recommendation that divestment in fossil fuel companies, or any other industry, would not be an effective means of mitigating global warming nor would it be consistent with the endowment’s long-term purpose to provide enduring benefit to present and future students, faculty, staff and other stakeholders. Rather, the University of Denver’s greatest ability to mitigate climate change and foster a sustainable future lies in deploying its core competencies: education, research and the ability to foster informed community discourse and in accelerating its sustainability in its operations.”
While the Board of Trustees decided not to divest from fossil fuels, they chose to adopt a policy that addresses the issues of climate change, as well as sustainable development.
The email highlighted their new policy:
“1) Establishing a revolving ‘green fund’ to investigate new efforts related to sustainability in the operations of the University. The University will create this fund with an initial $5 million and will look for donor support to increase this fund.
2) Further investment in the University’s sustainability efforts, both financially and in terms of human capital, that will include new organizational structures and reporting.
3) Working with the Board of Trustees and investment managers to make available an alternative type of investment vehicle that may offer donors the ability to have their contributions invested in a manner that aligns with their social objectives regarding sustainability.”
Divest DU, a student run organization that has been demanding the University’s divestment from fossil fuels for three years, responded to the Board’s decision on Facebook:
“Today, in response to three years of student activism from Divest DU and months of deliberation, Chancellor Chopp and the Board of Trustees announced that they will not pursue fossil fuel divestment as a way to combat climate change. However, our fight is NOT over. We will not stop until the University of Denver commits to full fossil fuel divestment. We are disappointed in this decision but are more fired up and committed than ever to fight for divestment! In light of President Trump’s recent Executive Orders to continue the Keystone XL and Dakota Access Pipeline projects, it is absolutely unacceptable that our administration has chosen to side with the fossil fuel industry instead of the future of its students.”
