Tell the University of Richmond to stop investing in fossil fuels
University of Richmond Board of Trustees: Investment Committee; Kathleen Hughes Bettencourt, Vice Rector; R. Lewis Boggs, Rector; William McLean, CFA, Spider Management Company LLC
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As a campus community dedicated to the “careful stewardship of institutional and environmental resources, and of the relationships that provide the foundation of our University community,” it is time for the University of Richmond to take bold action towards a sustainable future. While we acknowledge that the University has made significant strides in the realm of sustainability, we cannot ignore the fact that the University may continue to support fossil fuel companies, the biggest drivers of climate change, through the investment of its $3.2 Bn endowment. We seek to inspire institutional transparency and responsibility for the planetary and human impacts of UR’s investments.
As concerned members of the UR community, we demand the following actions be taken to uphold UR's commitments and the welfare of its community:
Divest the University endowment’s direct and indirect holdings from 200 of the largest owners of carbon reserves, coal, oil, and fossil gas.
Re-invest in the Richmond region, BIPOC, and other marginalized communities to provide reparations through investments in projects that revive our community and build climate change resilience.
Invest in solar and wind energy to help transition towards a low-carbon economy.
Assess and address risk posed by climate change (climate and carbon) to the UR endowment.
Establish a Committee on Investor Responsibility that will make recommendations to Spider Management LLC on socially and environmentally responsible investment opportunities, with multi-stakeholder representation (academic staff, non-academic staff, and/or students, alumni, trustees, and/or other parties).
As an institution of higher education, we believe that UR has a responsibility to contribute to the creation of a liveable future for its students. Further, UR is exposing its endowment to unacceptable levels of risk by continuing to invest in fossil fuel companies.
We urge the University to divest from fossil fuels and invest in a cleaner, more sustainable future for all.
Sincerely,
GreenUR
Sponsored by
To:
University of Richmond Board of Trustees: Investment Committee; Kathleen Hughes Bettencourt, Vice Rector; R. Lewis Boggs, Rector; William McLean, CFA, Spider Management Company LLC
From:
[Your Name]
As a community dedicated to the “careful stewardship of institutional and environmental resources, and of the relationships that provide the foundation of our University community,” it is time for the University of Richmond to take bold action towards a sustainable future. While we acknowledge that the University has made significant strides in the realm of sustainability, we cannot ignore the fact that the University continues to support fossil fuel companies, the biggest drivers of climate change, through the investment of its $3.2 Bn endowment.
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As concerned members of the UR community, we demand the following actions be taken to uphold UR's commitments and the welfare of its community:
Divest the University endowment’s direct and indirect holdings from 200 of the largest owners of carbon reserves, coal, oil, and fossil gas.
Re-invest in the Richmond region, BIPOC, and other marginalized communities to provide reparations through investments in projects that revive our community and build climate change resilience.
Invest in solar and wind energy to help transition towards low-carbon energy.
Assess and address climate and carbon risk
Establish a Committee on Investor Responsibility that will make recommendations to Spider Management LLC on socially and environmentally responsible investment opportunities, with multi-stakeholder representation (academic staff, non-academic staff, and/or students, alumni, trustees, and/or other parties)
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As an institution of higher education, we believe that UR has a responsibility to contribute to the creation of a liveable future for its students. Further, UR is exposing its endowment to unacceptable levels of risk by continuing to invest in fossil fuel companies.
We urge the University to divest from fossil fuels and invest in a cleaner, more sustainable future for all.