RESPONSIBLE ENDOWMENTS COALITION www.endowmentethics.org

"Historic new research from CDP, voted no. 1 climate change research provider by institutional investors, in collaboration with the Climate Accountability Institute, today reveals that 71% of all global GHG emissions since 1988 can be traced to just 100 fossil fuel producers. This group is the source of 635 billion tonnes of GHGs emitted since 1988, the year human-induced climate change was officially recognized. The data also shows that 32% of these legacy emissions come from companies that are public investor-owned, highlighting the power of investors in the transition to a sustainable economy." 

Congratulations to the activists at York University! "The York University Advisory Committee on Responsible Investment (YUACRI) has voted to recommend the University's divestment from arms manufacturers and fossil fuels. YUACRI was established in 2012 to integrate environmental, social and corporate governance (ESG) considerations into investment management processes and ownership practices concerning York's $413 million endowment fund." REC organizer Nina Macapinlac began supporting York endowment activists in 2016.

"Columbia University, New York, will divest certain coal industry investments in support of addressing climate change, Lee Bollinger, the university president, said in a message posted on the university’s website.

University trustees have agreed to divest from companies deriving more than 35% of their revenue from thermal coal production, he said.

'Divestment of this type is an action the university takes only rarely and in service of our highest values,' Mr. Bollinger said in a statement Monday. 'That is why there is a very careful and deliberative process leading up to any decision such as this. Clearly, we must do all we can as an institution to set a responsible course in this urgent area.'"

"Barnard College’s board of trustees voted to divest from energy companies that deny climate change, putting into question the $286 million endowment’s relationship with its money manager Investure.

The board approved the measure Saturday, saying the college will 'distinguish between companies based on their behavior and willingness to transition to a cleaner economy.' In 2014, Investure lost a client, the Rockefeller Brothers Fund, which decided to divest from fossil fuel companies."

Barnard divestment activist and REC board member Helen Cane celebrated the decision and reflects: “I have been involved with divestment movements for 3 years now, and every step of the way I realize more and more how deeply entrenched the fossil fuel industry is with almost every kind of institution, including our own college endowments. The road block to divestment is the desire to make profits in the short-run, but the argument for divestment is that climate inaction will destroy all means of profits in the long-run.” 

Check out photos here.

REC Goes to North Carolina Divestment Convening & Launching of New Responsible Endowment Fund

On October 1st, Natalie Casal and I went to Greensboro, North Carolina for a North Carolina Convening for Divestment and Reinvestment. The event was a gathering of students, alumni, parents, and community members from Guilford College and around North Carolina to discuss the importance of “divesting resources away from systems of oppression and investing in solutions that will bring about true liberation.” This convening was also the first official event to announce the launch of the Fund for a Responsible Guilford, an exciting Responsible Endowments Fund between organizers at Guilford College and REC. 

DEADLINE: Sunday, October 16, 11:59 PM EST.

Fill out this form if you would like to be considered for a student scholarship to attend the 2016 REC Kamayan Dinner, celebrating international solidarity and student power, on Wednesday, October 19, 2016 at May Day Space in Brooklyn.

Applicants will be notified of their decision on Monday, October 17.

RSVP on Facebook and invite your friends! https://www.facebook.com/events/1783211008627450/

The Guilfordians for Justice Coalition, which is a coalition of community members that includes students, alumni, faculty, and staff, concerned with the college’s financial investments through its endowment, are excited to announce the release of The Fund for a Responsible Guilford.   

Read on for the organization's statement.

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We are thrilled to share updates on a number of exciting events, projects, and campaigns at REC!

This past summer, REC was able to launch its International Solidarity Program (ISP) to the Philippines with fossil fuel divestment organizers from across the country. Join us on October 19 to hear about the trip in New York City over a traditional Filipino kamayan dinner. We’ll celebrate U.S. student movements, solidarity with international grassroots struggles, and REC’s role supporting the development of U.S. student activists since 2004. RSVP here and get your Kamayan tickets today!  

This September, we are hosting the University Wealth Hoarding & the U.S. Student Debt Crisis: A Report & Roundtable in New York City this October. Tuition at U.S. colleges and universities has climbed to astronomical heights​, forcing millions of young working class people to assume huge amounts of debt for the mere right to compete in living wage job markets​.  What is the ​significance of wealthy endowments in the context of the student debt crisis and inflationary tuition? How should endowments be used to aid this crisis​? What is the impact of university wealth hoarding on the future of higher education? If you’d like to participate, please email us at info@endowmentethics.org .

We are incredibly excited to announce Unconference 2016, which will be taking place in NYC on Oct. 21-23!  This event is the only student-led space focused on fossil fuel and prison divestment, solidarity, and endowment justice.  This convergence will bring together the Fossil Fuel Divestment and Prison Divestment movements to build a foundation for shared tactics and analysis.  Apply today!

To cap off the summer, our signature program, the Summer Organizing Retreat, was the biggest cohort we ever hosted! Student organizers from across North America came together to discuss endowment campaigning and how to build a strong foundation in endowment organizing. Led by trainers from our own Training for Trainers program, participants honed their ability to set demands, facilitate, plan direct actions, create political education modules, and deepen coalition building.

After winning a landmark case, we congratulate the Columbia University graduate students, who may now unionize after the National Labor Relations Board ruled in their favor after a two-year battle.

Also, Nikita Perumal, REC's Summer Organizing intern, wrote about the ways other climate justice organizers can change the current conversation on carbon reserves to shift our demands amidst our recent movement wins.