1. Immediately freeze any new investment in fossil fuel companies.2. Begin divestment from the top 200 largest private and government owned fossil fuel companies - which hold the vast majority of the world's reserves in coal, oil and gas - and fully divest within five years.3. Support the creation of a Socially Responsible Investment policy and reinvestment of the divested fossil fuel funds in CUNY's investment pool into companies seeking solutions to the climate crisis.
14 Governing Bodies within the City University of New York have already passed Resolutions requesting that the CUNY Endowment be divested from Fossil Fuels and Re-Invested in Sustainable and Healthy Energy Sources.
In December 2014, New York State banned Fracking due to public health hazards. CUNY Divest, along with universities across the country (including NYU and Columbia University) are asking their administrations to support Socially Responsible Investing Policies, and the New School has already committed to Divestment.
Last year, Cambridge Associates, CUNY's investment firm stated, in a meeting with Board of Trustees finance committee hearing on Divestment, that 14% of our investments are tied to investments in Fossil Fuels, and that it was completely possible to divest, CUNY just had to say that they wanted it. CUNY divested from Tobacco in 1990, and from companies that supported South African Apartheid in 1985. Within the last year, fossil fuel companies have dropped 20%, that means a loss in the endowment investments that fund scholarships for CUNY students. The era of irresponsible investments is over.
Join us. We are making the positive change for our health, and our future.
Take a look at our Victories page to see who supports us! Some Facts:
Do the Math to see why we need to get off fossil fuels as quickly as possible:
1. The scientific community is in agreement that if the earth's average temperature rises 2 degrees C, the resulting climate change will be utterly catastrophic. Human-caused climate change has already raised the planet's average temperature more than 1 degree C.
2. To surpass the 2 degrees C threshold, all we need to do is release 565 more gigatons of carbon into the atmosphere.
3. The fossil fuel industry has roughly 2,795 gigatons of carbon in reserves. Oil, gas and coal companies plan to extract and burn all of it. That's five times as much as it will take to send us over that 2 degrees C tipping point, and ensure that we're stuck with a new, hostile global climate.