UBC Students to Vote on Divestment from Fossil Fuel Companies
Pipeline company Kinder Morgan among those found in UBC Investments
Vancouver, BC - Students at the University of British Columbia are voting this week to make a decision on whether or not to support a campaign to divest the University’s holdings in fossil fuel companies. The campaign, run by the group UBCC350, already garnered over 1,200 signatures supporting the campaign and placing the question on divestment onto the ballot in this year’s AMS elections.
“UBC is striving to be a world leader in sustainability, but our current investments are not in line with our values,” said Molly Henry, Divest UBC Campaign Director. “We’re investing tens of millions of dollars in fossil fuel companies, making the carbon footprint of our investments nine times that of UBC itself.”
In 2013, the University released a statement announcing it would remain invested in fossil fuel companies, including controversial pipeline company Kinder Morgan, which was found in the UBC endowment fund last year.
“With this referendum, we’re building on the already huge support we built last fall at UBC,” said Cohen Hocking, UBCC350 Student Coordinator. “Students, faculty, staff and the community are calling on our school to be a leader on climate change and divest.”
With over 500 campaigns around the world, and nearly 40 on campuses across Canada, the Fossil Fuel Divestment movement is one of the fastest growing campaigns of it’s kind. Most recently, it has garnered the support of World Bank Chief Jim Yong Kim.
“UBC has a chance to step up and be a real leader when it comes to climate action in Canada,” explained Henry. “Divestment is increasingly being supported not only by those calling for action on climate change, but by economists and investors as well.”
To date no school’s in Canada have divested, but in October 2013 the city of Vancouver began a process to pursue divestment at the city level.
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