Letter to the editor: DivestUSU’s Letter about Fossil Fuel Divestment
“Who cares?”
This question echoes. With ever-impending crises ahead, students wonder “why bother? Why get a degree, start a family, or make changes if the world will see so many violent environmental catastrophes in 25 years? Who cares?”
Anyone asking this wonders how things get better. DivestUSU are the students, faculty, and citizens of Logan answering. We believe the administration of Utah State University should accomplish sustainable action for current and future generations by divesting assets from the companies committing extreme pollution: the Carbon Underground 200.
Part of USU’s recurring expenses are funded from returns generated by assets donated to the university (called ‘endowments’). Endowments are invested across many companies, particularly energy companies, which are seen as promising investments [source ; source]. In 2021, USU’s endowment was approximately $510 million [source]. Like hundreds of universities across the globe, USU should distance itself from companies exacerbating climate disasters and reinvest their funds in ethical and profitable areas [source]. This is called ‘divestment.’
Our four reasons for divestment:
- Prevents Unethical Environmental Crises
Air pollution is a longstanding issue in Utah [source ; source]. Globally, air pollution kills 7 million people a year, and causes global respiratory issues and increased mortalities [source ; source]. Divestment would decarbonize the economy and disallow the operation of industries committing known, irreversible, and unethical harm to present and future environments [source ; source].
- Avoids Financial Risk
Universities must act as prudent investors. By divesting, they avoid assets potentially becoming valueless through climate change, something seen in recent events [source]. Quality investment options remain. Return differences between portfolios excluding and including fossil fuels are ‘statistically insignificant’ [source]. Newspapers, universities like the University of Maine System, the Unity College System, and others– even Catholic churches– have divested without negative financial effects [source ; source ; source; source].
- Demonstrates USU’s Ethical Integrity
Divestment allows organizations to engage with the local community about sustainability, and would demonstrate USU’s commitment to sustainable action [source]. Though divestment, like any change, can incite public controversy, research has found increases in student pride and community interaction [source; source ; source]. Divestment aids the wellbeing of future community members and environments, who will feel the worst effects of ecological decline.
- Fulfills Leadership Responsibility
The administration of USU cares about sustainability; they’ve committed to “improve efficiency [and] explore renewable energy options” [source]. USU has signed carbon-neutral commitments [source]. The Institute for Land, Water, and Air and Greenhouse Gas Steering Committee contribute important scientific work. The USU administration cares, but they can do more by divesting, which fulfills all necessary conditions for positive, sustainable progress.
So… “who cares?”
We do. And together, we can make good changes.
Help us make USU care right by supporting divestment from the Carbon Underground 200.
John Jensen represents DivestUSU, a group of USU students, faculty members, and members of the Cache Valley Community. They have been working to introduce a divestment movement to the administration of USU for a little over one year. They recently presented a resolution at to the faculty senate to receive their support; they passed an informational request to the board of trustees to determine the companies invested in fossil fuels that USU was affiliated with, particularly through investment.
— john.jensen@usu.edu