{"id":323,"date":"2014-11-21T19:46:15","date_gmt":"2014-11-21T19:46:15","guid":{"rendered":"http:\/\/www.wou.edu\/westernjournal\/?p=323"},"modified":"2014-11-21T19:46:15","modified_gmt":"2014-11-21T19:46:15","slug":"students-urge-foundation-to-divest-from-fossil-fuels","status":"publish","type":"post","link":"https:\/\/wou.edu\/westernhowl\/students-urge-foundation-to-divest-from-fossil-fuels\/","title":{"rendered":"Students urge foundation to divest from fossil fuels"},"content":{"rendered":"
By Laura Knudson\r\n Editor-In-Chief<\/pre>\n
Students campaigning for campus divestment from fossil fuels have been met with disappointment from lack of action taken by the Western\u2019s Development Foundation.
\nMembers of the environmental club spent the last week collecting over 350 signatures from students, faculty and alumni. They hope to reach at least 600 signatures, demonstrating student support to the foundation, a private, nonprofit organization that financially assists the college.<\/p>\n
\u201cLast year, Oregon State University attempted divestment and was rejected, which spurred us to take up our own campaign at Western,\u201d said Beth Bello, creator and president of the environmental club. \u201cDivesting from fossil fuels is so important because, as many of us are aware, global warming is now a scientific fact.\u201d<\/p>\n
The issue first gained campus attention at the Oct. 28 Faculty Senate meeting with a presentation by Dr. Mark Van Steeter, associate professor of geography.<\/p>\n
Divesting entails the foundation getting rid of stocks, bonds or investment funds that are part of the fossil fuel industry, according to a written proposal distributed at the meeting.<\/p>\n
It\u2019s \u201cwhen you take the money you have invested into fossil fuel companies, and invest into a more ethical company like renewable energy,\u201d Bello said. This does nothing to stop the oil companies, she added, but it makes a symbolic statement.<\/p>\n
The proposal also stated, \u201cUnlike some large universities that receive significant funding for research from the fossil fuel industry, we do not.\u201d<\/p>\n
The goal of divestment, Van Steeter said, is to send a social message. Industries should use its resources and innovation to transition toward a low carbon economy, he explained.
\nAn added benefit includes landing Western as the 14th school in the nation to divest.<\/p>\n
\u201cI see this as a real possibility to get positive PR and put us on the map,\u201d Van Steeter said. \u201cIt really makes sense for Western.\u201d<\/p>\n
The presentation sparked debate with university President Mark Weiss weighing in.<\/p>\n
\u201cIn my view, it\u2019s pretty hypocritical to take this position,\u201d he said. \u201cHow many of us don\u2019t live locally? How many of us get on an airplane to go to conferences every year,\u201d he said.
\nVansteeter responded saying, \u201cThere\u2019s always a reason to be found not to act.\u201d<\/p>\n
In a guest column authored by Weiss appearing in the Nov. 13 issue of the Statesman Journal, he said, \u201cFrom the beginning of the industrial age, American\u2019s simply neglected to consider the consequences of burning fossil fuels.\u201d Titled \u201cThe world crisis we\u2019d rather ignore\u201d Weiss\u2019 column also states that divesting in oil and gas companies may provide satisfaction that something is being done, but \u201cit is not apparent this action would contribute to solving the problem.\u201d<\/p>\n
As the discussion heated up during the senate meeting, other senate members chimed in.<\/p>\n
\u201cJust because you can\u2019t do everything, doesn\u2019t mean it\u2019s hypocritical to do something,\u201d said Michael Baltzley, faculty senate member and associate professor of biology.<\/p>\n
Also in attendance at the meeting was Tommy Love, executive director in the Office of University Advancement and WOU Foundation. Love said divesting is a complicated issue and the foundation wants to make sure they do what\u2019s right.<\/p>\n
One environmental club member has made it his mission to raise awareness by visiting more than 15 campus club meetings.<\/p>\n
\u201cBy demonstrating large scale student support for divestment, the foundation will listen to student voices,\u201d said Karl Amspacher, senior geography major.<\/p>\n
Amspacher was disappointed when the foundation declined his request to speak about divestment at their upcoming December meeting.<\/p>\n
In a Nov. 10 email to the foundation, Amspacher asked for five minutes to present on divestment.<\/p>\n
His request was met with a reply from Love which said he had already spoken with Van Steeter about divestment and \u201cthe specific topic of divestment is not planned for the agenda at the December board meeting.\u201d<\/p>\n
\u201cIt\u2019s a brush off,\u201d Amspacher said.<\/p>\n
An earlier request submitted via email by alumnus Zander Albertson\u2019s was also denied by the foundation.<\/p>\n
\u201cIt\u2019s difficult to believe that the foundation takes divestment seriously given that it has been given no further consideration,\u201d Albertson said. He was also disappointed in the foundation\u2019s unwillingness to put divestment on the agenda.<\/p>\n
\u201cI wish they would have just opened the discussion,\u201d he added.<\/p>\n
Prior to the start of school, Van Steeter requested five minutes to present the issue to the foundation. He met with the finance and planned giving sub-committee.<\/p>\n
\u201cWe wouldn\u2019t lose anything by divesting,\u201d Van Steeter said in an interview. \u201cWe could do the right thing and not pay a price for it.\u201d<\/p>\n
Apart from the meeting and Van Steeter\u2019s presentation to the faculty senate, no other formal forum has taken place between the foundation and the environmental club.<\/p>\n
When asked in a Wednesday interview if he felt this was fair and sufficient, Love said, \u201cI think it is for where we are at this point.\u201d<\/p>\n
The other side has had time to think and plan regarding divestment, he said. \u201cThe topic and issue recently came to us. We\u2019re trying to get our arms around this.\u201d<\/p>\n
And there is much to consider when discussing investments, Love said.<\/p>\n
For starters, moving investments from fossil fuels into green energy does not necessarily guarantee things will stay the same in terms of revenue.<\/p>\n
\u201cThere\u2019s always risk in that,\u201d said Love. \u201cThat\u2019s the stock market in general.\u201d<\/p>\n
For 2014, the foundation\u2019s total revenue was $4,302,690 according to the foundation\u2019s audit report, available on Western\u2019s foundation webpage. Realized gains from investments, the amount received from the sale of investment holdings, was $673,045. Unrealized gains or the current value of those investments was a reported $564,593.<\/p>\n
The foundation does not disclose what they invest in.<\/p>\n
Albertson said this is concerning because it leaves one to conclude the foundation portfolio contains a fairly significant amount of carbon-based investments.<\/p>\n
\u201cAs a private foundation, we have not released those holdings,\u201d Love said.<\/p>\n
But, aiding in what Love calls the \u201ccomplex layers\u201d of divestments, are mutual funds.<\/p>\n
\u201cThere are components we have that are related to fossil fuels because we have mutual funds,\u201d he said.<\/p>\n
Mutual funds refer to professionally managed investment programs funded by shareholders that trades in diversified holdings.<\/p>\n
Because these investments are managed by a company, they change all the time, even daily, Love said.<\/p>\n
Furthermore, \u201cif we divest, someone else is going to buy those stocks,\u201d he said. \u201cDivestment in and of itself is not going to make a true impact.\u201d<\/p>\n
The foundation is interested in looking at the bigger picture of climate change, he added.<\/p>\n
\u201cI don\u2019t want students to think that the foundation and myself do not recognize the issue of climate change,\u201d Love said. Divesting is \u201cone way to do it, but let\u2019s have a campus-wide conversation to address global climate change.\u201d<\/p>\n
For example, \u201cNot commuting in [to campus] I think would have a bigger impact,\u201d he said.<\/p>\n
Ultimately, Love said aside from the \u201cmoral obligation\u201d concerning climate change, \u201cwe also have an obligation as a foundation.\u201d<\/p>\n
\u201cWe don\u2019t want to make any rush judgments,\u201d he said. \u201cEspecially when we have to think about other things outside of fossil fuels.\u201d<\/p>\n
\u201cI make no commitment [to either side],\u201d he said. \u201cI do commit to continuing dialogue.\u201d<\/p>\n
Love encourages interested parties to contact the foundation with comments.<\/p>\n
The social science division will vote on fossil fuel divestment resolution of support Dec. 2, Van Steeter said. If approved, \u201cit will be a template for other divisions to follow,\u201d he said.<\/p>\n
The environmental club will be protesting outside the building during the Dec. 6 meeting, Bello said.<\/p>\n
\u201cThis is a movement to improve our school,\u201d Amspacher said. \u201cWe\u2019re doing this to make Western a better place.\u201d<\/p>\n
How to get involved:<\/p>\n
WHAT: Environmental Club
\nWHEN: 4:30 p.m. every Wednesday in HSS room 230
\nMORE INFO: Contact club president Beth Bello at bbello11@wou.edu or call 503-798-7763<\/p>\n
Foundation:<\/p>\n
Direct questions or comments for the foundation to Tommy Love, executive director in the Office of University Advancement and WOU Foundation. He can be reached at lovet@wou.edu or 503-838-8134.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
By Laura Knudson Editor-In-Chief Students campaigning for campus divestment from fossil fuels have been met with disappointment from lack of action taken by the Western\u2019s Development Foundation. Members of the environmental club spent the last week collecting over 350 signatures from students, faculty and alumni. They hope to reach at least 600 signatures, demonstrating student […]<\/p>\n","protected":false},"author":367,"featured_media":326,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_lmt_disableupdate":"","_lmt_disable":"","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[3],"tags":[],"class_list":["post-323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"modified_by":null,"_links":{"self":[{"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/posts\/323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/users\/367"}],"replies":[{"embeddable":true,"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/comments?post=323"}],"version-history":[{"count":0,"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/posts\/323\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/media\/326"}],"wp:attachment":[{"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/media?parent=323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/categories?post=323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/tags?post=323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}