UChicago for Climate Action

Dear University President Alivisatos, Chief Investment Officer Andy Ward, and Board of Trustees:

We, alumni of The University of Chicago, demand the University stop using its endowment to accelerate climate change and cease investing it in fossil fuels.

As alumni who care about the reputation, legacy, and impacts of our alma mater, we hereby pledge to withhold any donations to the University until it has divested from fossil fuels.

The University’s stated mission,“let knowledge grow from more to more, and so be human life enriched (crescat scientia, vita excolatur),” is absolutely incompatible with its financial support for the fossil fuel operations that are accelerating our trajectory towards an unlivable future. In October, 2023, students filed a complaint against the University with the Office of the Illinois Attorney General, arguing the University’s fossil fuel investments violate its responsibilities as a non-profit institution. We express support for the complaint and amplify the arguments in the excerpt below:

More than any other, the fearless and rigorous pursuit of truth for its own sake underpin this university’s identity. Fossil fuel companies have long engaged in a well-documented campaign to undermine climate science and distort public debate about how to deal with the climate crisis. The industry’s spread of scientific misinformation and funding of questionable research undermines the work of faculty and students who are designing solutions for a sustainable future. Likewise, the flow of fossil fuel money to politicians and think tanks has diverted or delayed serious government action to address the climate crisis, placing a special burden on young people whose futures will be most impacted by these investments. Even as the University sets and pursues ambitious climate goals in its own operations, the Board channels funds to an industry committed to winning short-term profits at the expense of the public good.

The climate crisis is already wreaking havoc across the globe, particularly in the Global South, and younger generations will only face a more hostile and volatile climate. Current students, including through the work of Divest UChicago, should not have to spend their time and energy trying to convince University leadership to stop contributing to the destruction of their futures. We applaud their efforts speaking truth to power, and we express solidarity with their work.

By signing this petition, we join thousands of others in the University community, making the below five demands of the University:

1) Immediately freeze any new investments in the fossil fuel industry (exploration and extraction) and liquidate current investments in the fossil fuel industry within the next 5 years, whether direct or commingled.

2) Commit to regularly disclosing updated data on holdings in fossil fuel companies, including comprehensive data on the progress of divestment and the reinvestment of those funds.

3) Commit to de-carbonizing the endowment, reducing emissions by 50% by 2030 in line with the University’s existing Sustainability Plan for campus emissions.

4) Set public environmentally and socially just guidelines for investments based on input from students, faculty, staff, and other community stakeholders. Note that universities whose endowments have “socially responsible investment” policies have higher donations, more student enrollment, and more extensive risk management in the endowment fund.

5) Create a recurring committee of students, faculty, staff, and other community stakeholders to facilitate the divestment process and ensure that investment decisions follow established environmentally and socially just guidelines.

Sincerely,

Have you signed it yet?