rich 1.0 Action Network https://actionnetwork.org <link href='https://actionnetwork.org/css/style-embed-v3.css' rel='stylesheet' type='text/css' /><script src='https://actionnetwork.org/widgets/v6/form/academic-open-letter?format=js&source=widget'></script><div id='can-form-area-academic-open-letter' style='width: 100%'><!-- this div is the target for our HTML insertion --></div> Fossil Free RMIT https://actionnetwork.org/groups/fossil-free-rmit https://can2-prod.s3.amazonaws.com/forms/photos/000/243/681/normal/DSC3533_(1).jpg An open letter to RMIT University from members of its community: In full awareness of the urgent need to act on climate change, we, the undersigned, call on the University to: 1.Publicly commit to cease any further (increased) investment in fossil fuels; 2. Publicly commit to divesting entirely from fossil fuels within a specified time period (for example, within the next five years) 3. Publicly report regularly on the fossil fuel exposure and carbon intensity of its investments Climate change is not simply an economic and environmental problem, but an issue of social justice, intergenerational equity, and the viability of future human endeavours. Our sense of urgency in signing this letter cannot be overstated. As members of the academic community of RMIT University we believe that it is our moral responsibility to show leadership in combating the global threat of climate change in order to ensure a liveable future for ourselves and all species, and for generations to come. The Intergovernmental Panel on Climate Change (IPCC), the International Energy Agency (IEA), the World Bank and other reputable authorities all warn of a four degree Celsius rise in average global temperatures by 2100 if greenhouse gas emissions continue to increase at their current rate. Recent experience of weather extremes and natural disasters here and across the world is only the beginning of a new and more volatile climate regime. Despite its small population, Australia is a major contributor to climate change. It is the largest per capita emitter of greenhouse gases globally and among the world’s 20 top aggregate emitters based on its domestic emissions alone. Australia is also the world’s second largest exporter of coal and, if the emissions embodied in its coal exports are taken into account, Australia is the world’s sixth largest direct and indirect emitter of carbon dioxide. In order to be part of the solution to the threat of global warming, we must diminish our domestic reliance on fossil fuels and replace them with clean, renewable sources of energy. We must also wind back our coal exports. We now know that fossil fuels cause climate change of unprecedented destructive potential. We also know that many in this industry spend large sums of money to mislead the public, deny climate science, control legislation and regulation, and suppress alternative energy sources. By divesting from its financial involvement in fossil fuel production and export, RMIT will send a strong leadership message to the wider community that the time of fossil fuel reliance must come to an end. In addition to the moral imperative for fossil fuel divestment, there are strong financial reasons for such a move. Financial analysts and international organisations such as the World Bank recognise that fossil fuel assets now bear material and growing financial risks. Climate policies intended to keep global warming below 2 degrees Celsius, coupled with increasingly affordable renewable energy technologies and socio-political pressure to keep fossil fuels in the ground will mean that our reliance on fossil fuels as an energy source will diminish rapidly in the future. Fossil fuel resources and associated technologies face a recognised risk of becoming stranded assets. Moving away from fossil fuels is not only an ethical choice but also a smart business move. Recent pronouncements from authoritative quarters support our call for action. Christiana Figueres, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) states that the “continued and dangerous rise in greenhouse gases . . . is in large part the direct result of past investments in . . . fossil fuels.” She warns that “institutional investors who ignore climate risk face being increasingly seen as blatantly in breach of their fiduciary duty.” (January 15, 2014) Taken directly from the university’s sustainability policy: “To express RMIT’s commitment to transforming itself into an organisation that models institution-wide excellence in response to national and international calls for tertiary education to play an influential role in helping shape a sustainable future. In formulating this Policy, RMIT acknowledges that its identity and location, as well as its teaching and learning and research activities afford a particular sphere of influence that predisposes RMIT as a significant force to advance the sustainability agenda.” The objective of which is defined as: “To embed sustainability principles and practices throughout learning & teaching, research and operational activities.” Honouring these commitments, as well as numerous others throughout the vision, mission, values and sustainability policy is central to maintaining the University’s integrity and reputation as a credible institution and leader in its field. We request that RMIT University shows courage, applies prudent risk management and acts as a progressive leader on the Australian and global stage in the area of climate change abatement. We ask that the University divests its direct and indirect investments in fossil fuel assets. By doing so, RMIT will be joining a growing number of higher educational institutions that have already committed to divest from fossil fuels. Signed,  https://actionnetwork.org/forms/academic-open-letter