TCA Statement on Divestment from Fossil Fuels

Climate change is the most urgent issue of our time. Due to virtually unrestrained burning of fossil fuels by developed and developing countries alike, the average temperature of the Earth has increased 1 degree Celsius above pre-industrial times. While the worst effects of warming are yet to come, extreme droughts and melting ice caps have already ensued, forcing food prices and sea levels around the world to rise. The impacts of these changes are most prominently felt by low-income people in developing countries and underserved communities in the developed world, most of whom are people of color. To avoid further disaster and create a more equitable system of energy, the Paris Agreement, which was negotiated by the world’s countries in December 2015, holds that the average global temperature should not exceed 2 degrees Celsius. In order to accomplish this, we must cease burning fossil fuels and transition to renewable energy.

Formed in 2011, Tufts Climate Action (TCA) has been outspoken on the catastrophes of climate change and the consequences of continuing business as usual. In an effort to leverage student power and implicate Tufts University in the climate crisis, the group has joined the worldwide movement calling for fossil fuel divestment. Just one of the many tactics used in the climate movement, which also includes calls for a price on carbon and community ownership of clean energy infrastructure, divestment asks institutions to remove their shares in the top 200 publicly traded fossil fuel companies. For TCA, this means demanding that the Board of Trustees at Tufts University remove its $80 million investment in oil companies.

Our calls for divestment began in 2011, and in 2013 President Monaco established the Tufts Divestment Working Group, comprised of students, faculty, administrators and trustees, to evaluate the feasibility of divestment and the possibility of creating a small endowment fund for sustainable investments. The official recommendation of the Working Group was that Tufts should not begin the process of divestment at that time, citing financial losses. In further discussions with the administration, it was later revealed that the Investment Committee worried about maintaining a broad portfolio of investments if fossil fuels are excluded from their portfolio. The Working Group did establish the Sustainability Fund in 2015, and designated $1 million for assets that are socially and environmentally responsible. The Sustainability Fund  represents only 0.06 percent of Tufts’ nearly two billion dollar endowment.

Tufts Climate Action understands that divestment is a complicated process and recognizes the challenges of a less-diverse portfolio. Nevertheless, TCA believes that aside from conducting an initial assessment about divestment, the university has not seriously and fairly considered the feasibility of adjusting its investment portfolio to reflect its stated values of equity and sustainability. After the Working Group recommendations were released, the university stopped communicating with Tufts Climate Action about steps for divestment. They had made their recommendation to delay consideration of the issue, and believed the job was done.

We have continued to assert that no matter the recommendation of the Working Group, the threat of climate change does not dissipate, nor does our responsibility to be innovative in our approach to mitigating the issue. Fossil fuel divestment is an opportunity for Tufts to uphold the Talloires Declaration and align the the university’s investments with its mission statement. The university cannot end the conversation about divestment just because challenging the status quo seems too difficult. Rather, divestment should be an ongoing discussion about how the university can leverage its resources to create conditions that make divestment possible in the future. With this in mind, Tufts Climate Action has reoriented its campaign around three main demands:

  1. Tufts University should sell its direct holdings from fossil fuel companies.
  2. Tufts University should form a coalition with other colleges and universities that calls for a greater supply of fossil free commingled funds. Doing so will give institutions more investment options and allow them to maintain broad portfolios that are sustainable, equitable, and profitable.
  3. Tufts University should work with student representatives to create mechanisms of greater transparency relating to the endowment, such as an annual report on its investments.e

As the Rockerfeller Brothers Fund visits today…

RBFTufts

Until recently, oil ran in the veins of the Rockefeller family. The heirs of a fortune that was created by a monopoly on the oil industry have decided to wipe their hands clean. The Rockefeller Brothers Fund, a philanthropic organization created by the sons of John D. Rockefeller, Jr., whose wealth was generated by Standard Oil, announced in September 2014 that they would divest, or sell their shares, from coal, tar sands and other fossil fuel companies “as quickly as is prudent over the next few years.” Since then, the Fund has been limiting its investments in fossil fuels while increasing its holdings in renewable energy. Valerie Rockefeller Wayne, the chair of the Fund, explained that the Fund is divesting because “continuing down the fossil fuel path is both immoral and financially imprudent.”

Today, the president of the Rockefeller Brothers Fund, Stephen Heintz, is meeting with the Investment Committee, a subcommittee of the Tufts University Board of Trustees (who direct the university’s financial decisions). They plan to discuss the Rockefeller Brothers Fund’s divestment process with the Tufts Trustees. This meeting is one of the outcomes of Tufts Climate Action’s April 2015 sit-in in President Monaco’s office. Continue reading

Why We Support Indigenous People’s Day at Tufts

IPD Cover Photo

Across Turtle Island (an Anishinaabe name for North America) and the world, indigenous communities are at the front lines of industrial and environmental destruction. They are among the most threatened by both the impacts of climate change and its causes, namely oil and gas pipelines and drilling sites, and other energy pollution such as radioactive waste from nuclear power plants. In the Dakotas, man camps – where the mostly White, male pipeline and fracking workers live – are rampant with sexual trafficking and rape of Native women. First Nation parents l

iving near tar sands extraction in Athabasca have been forced to choose between feeding their children food that they know is cancerous and not feeding them at all. For the Athabasca Chipewyan First Nation, traditional food sources have been polluted with carcinogenic runoff from tar-sands mining. Food in stores is often unhealthy and unaffordable for families, many of whom live in poverty. At the same time, indigenous people and nations are leading the fight against fossil-fueled colonialism. The Unist’ot’en in so-called British Columbia are holding a blockade to protect their traditional land from multiple tar sands and fracked gas pipelines that threaten to poison food and water. The Rosebud Sioux tribe and many other Native Americans have been instrumental in the recent defeat of the Keystone XL Pipeline. By celebrating Indigenous People’s Day at Tufts, we can honor the long and ongoing Native tradition of powerful resistance against the fossil fuel industry’s continuation of genocide and colonialism.

Join the movement for Indigenous People’s Day at Tufts on Facebook and sign the petition to show your support!

 

Read the Letter that We’re Giving to the Trustees

Dear Trustee,

We, all of us, have been handed a decisive moment in history, a moment of consequence, a moment that we can not choose to ignore or reject or miscomprehend for the sake of convenience and the fear of change.

Today, our society’s persistent addiction to coal, oil, and natural gas presents an active threat to communities at the frontlines of the the climate crisis. From the foothills of Appalachia to the neighborhoods of Chicago, the extraction, refining, and combustion of fossil fuels has ravaged landscapes and polluted water and air with indisputable consequences for human health. Elsewhere our rapidly changing climate has heralded more frequent and severe storms, floods, droughts, and famine. It is a question of justice that these unnatural disasters have and will continue to affect the most under-privileged among us, while those most responsible are able to insulate themselves from the consequences of their actions.

However, despite both the solidified science of anthropogenic climate change and the human misery intimate to these unfolding calamities, the United States continues on a trajectory of sustained reliance on carbon-polluting fuels.

It has been 30 years since global warming entered public discussion; polls show an overwhelming majority of Americans want bolder action on climate from our elected officials ; the technologies needed to build an alternative energy system — conservation, efficiency, and clean renewable power — exist today and, if deployed, would pay for themselves many times over.

So, what is the hold-up?

Unsurprisingly, the fossil fuel industry has displayed a preeminent commitment to seeing proven reserves extracted, sold, and burned — no matter the costs to our atmosphere and environment. Employing arsenals of lobbyists, extortionary political campaign contributions, and crusades of climate science disinformation, coal, oil and gas companies have fought to stymie and stall any public policy that might jeopardize their profits; this includes ratification of the Kyoto Protocol, a federal cap-and-trade bill, and, presently, Obama’s Clean Power Plan.

In order to preserve a safe and habitable planet for our children and our children’s children, studies show that we must reign in runaway greenhouse gas emissions. The international community has agreed that warming beyond two degrees celsius would precipitate unacceptably dangerous climate disruption and, potentially, ecological collapse. To stay under 2° we must cap global emissions at 565 gigatons of carbon dioxide. This “carbon budget” necessitates leaving fourth-fifths of proven fossil fuel reserves in the ground.

Although laudable, neither the university’s internal sustainability efforts nor the environmental research of its professors will be sufficient to address the political nature of our climate crisis.

Furthermore, our investment in business predicated on carbon pollution amounts to an endorsement of an inherently destructive business model. Professor James Engell of Harvard writes “The fossil-fuel companies are decent investments only under two assumptions: first, the oil and gas and coal they own in the ground shall be sold and burned. Second, they shall continue to find more oil and gas and coal and shall sell that to be burned, too. Any investor in them must want this to happen, and any investor is putting up money to make this happen with all deliberate speed.”

Our mission statement declares the university to be “dedicated to the creation and application of knowledge” in an “environment where creative scholars generate bold ideas, innovate in the face of complex challenges and distinguish themselves as active citizens of the world.”

And our vision statement, adopted by the Board of Trustees in 1994, reads “we will strive to be a model for society at large. We want to foster an attitude of ‘giving back,’ an understanding that active citizen participation is essential to freedom and democracy, and a desire to make the world a better place.”

The ask of the global divestment campaign — freezing any new investment in the top 200 publicly-traded fossil fuel companies and selling off all current holdings within five years — embraces the commendable hallmarks of our mission and the values that drew us to matriculate at Tufts University. Inversely, few acts are more antithetical to active citizenship, the application of knowledge, and innovation in the face of complex challenges than the continued profiteering from fossil fuels.

South African Archbishop, and recipient of an honorary degree from Tufts University, Desmond Tutu declared, “Just as we argued in the 1980s that those who conducted business with apartheid South Africa were aiding and abetting an immoral system, we can say that nobody should profit from rising temperatures, seas, and human suffering caused by the burning of fossil fuels.”

It is our jumbo sense of justice that calls us to push for divestment.

Today though, we stand outside your board meeting to insist that, as a Trustee of this university, it is not only a moral imperative but also your fiduciary responsibility to divest our endowment from fossil fuels. When making investment decisions, the duty of prudence demands trustees take into consideration both general economic conditions as well as any asset’s special relationship to the institution’s stated purposes. It would be a disavowal of this duty to delay withdrawing financial support from corporations threatening the well-being of the planet and its inhabitants. This is especially true in light of the student government resolution, student-wide referendum, faculty letters, and alumni petitions calling for divestment.

Additionally and irrespective of our ethical obligation — within the last two years and since the university last reviewed the proposal — fossil fuel divestment has become more feasible.

By the People’s Climate March in September 2014, it was reported that 181 institutions, representing $50 billion in assets had joined the blossoming movement by committing to divest their holdings of fossil fuel stocks. Advocates pledged to triple those numbers by the December 2015 UN climate negotiations in Paris. Months before the negotiations, rather than triple, the quantity of funds committed to fossil fuel divestment had witnessed a fifty-fold increase, exploding to $2.6 trillion in total combined assets. Although the divestment movement has its roots in mission-driven institutions such as faith-based organizations, universities, NGOs, and charitable foundations, 2015 has seen the growth of divestment campaigns and pledges into large pension funds and private-sector actors. Within the last year financial analysts and central bankers have increasingly been sounding the alarm of significant and quantifiable risk to holding carbon assets in a carbon constrained world. University commitments have tripled in the last year with 40 educational institutions with $130 billion in assets pledging to divest. This includes full divestment commitments at Hampshire and Pitzer Colleges, The New School, Rhode Island School of Design and Syracuse University and partial divestment commitments (usually from coal and/or tar sands) at Unity College, Georgetown University, Stanford University, University of California, University of Dayton, and University of Washington.

As the movement has grown, eliminating carbon assets from our endowment has become a significantly less challenging prospect. Fund managers, responding to the ballooning demand, have created co-mingled funds that are fossil-free and investment advisors have reported that the restriction of a fossil-free portfolio would add only infinitesimal risk to return.

Considering the above, we demand that The Board thoroughly consider fossil fuel divestment as the most powerful statement our institution of higher learning can make towards in confronting the climate crisis. The students of this community look forward to working with you and urge you to guide Tufts towards taking leadership on the greatest challenge of our time.

Sincerely,

Tufts Climate Action

Breaking: 33 Students & Alumni Occupy President’s Office for Fossil Fuel Divestment

FOR IMMEDIATE RELEASE: 33 Students and Alumni Occupy President’s Office for Fossil Fuel Divestment

contacts: Ben Weilerstein 215-740-9296 Miranda Willson 914-815-3648

tuftsmeme

photo credit: Jordan Delawder meme credit: Martin Hamilton

On the morning of April 22, 2015, 33 students, alumni and local organizers entered the administrative building Ballou Hall to demand a meeting with Tufts University administration regarding fossil fuel divestment. The students, mostly members of the group Tufts Climate Action, reported that they plan to peacefully occupy Ballou Hall until administrators agrees to meet with them and commit to divesting the school’s endowment from fossil fuel companies over a 5-year period.
This action coincides with escalated divestment protests and sit-ins across the country, including at Harvard University, Yale University, Swarthmore College and the University of Mary Washington. Today Tufts is joining in solidarity with millions of people around the world that are already suffering due to catastrophic climate change – climate change that the school’s endowment is endorsing through its investments.

Tufts Climate Action emphasized that the climate crisis is an imminent danger to mostly low-income communities and communities of color across the world, and Tufts simply cannot continue to invest in and profit from this destruction. In its mission statement, Tufts University boasts its innovative nature and support of active citizens. By investing $80 million in fossil fuel companies, the University is both ignoring the facts of climate change and refusing to live up to its own core values.

Students involved with Tufts Climate Action, formerly known as Tufts Divest For Our Future, have been campaigning for fossil fuel divestment since Fall 2012. In February of 2014, President Monaco released a statement saying that the University will not divest Tufts from fossil fuels “at this time,” despite support from 74% of the student body, 45 faculty and 200 alumni.

“Injustice is not an investment,” said a Tufts Climate Action representative on behalf of the group, adding that they plan to do whatever it takes to pressure the Tufts administration to pull their investments from an industry that profits from destroying the environment and our communities.

“Rearranging your morals to value human lives over profit is a powerful form of resistance against systems that tell us otherwise,” said freshman Grace Cooper. “That’s why I’m sitting in today.”
In addition, students are rallying outside of Ballou Hall in support of the sit-in as well as divestment from private prisons and corporations profiting from occupation of Palestine. Tufts Climate Action is a member of the Coalition for Prison Divestment, which also includes Students for Justice in Palestine, Tufts Labor Coalition, Tufts United for Immigrant Justice, and Students Against Mass Incarceration. “The fossil fuel industry is inextricably linked to the same systems of racism, violence, and oppression enacted through the private prison industry and corporations operating in occupied Palestine. We are in solidarity with TCA, as we know Tufts continues to tie our money up in these corrupt industries and refuse to let our administration give our stamp of approval,” said senior and organizer Emily Iwamoto.

Tufts Students pressure Trustees on divestment

About 80 Tufts students rallied in support of fossil fuel divestment outside of a major meeting of their Board of Trustees on Saturday, February 7th. The rally and protest was organized by Tufts Climate Action, formerly known as Tufts Divest for Our Future, and consisted of speakers from various campus and local community groups.

Students and community supporters from Somerville carried signs and banners with slogans including “divest from climate chaos, invest in us” and “our endowment, our future.” The group of protesters gathered at the Tufts Campus Center, and the trickle of students grew into a significant mass. There, the speakers addressed the crowd.

Two student leaders, Miranda Willson and Claire Chen, from Tufts Climate Action shared personal accounts of their interest in climate change and their inspiration for supporting and working on the fossil fuel divestment campaign. Miranda  spoke about the unjust impacts of climate change on a global scale, noting that it is the same communities grappling with poverty or racism that tend to face the worst impacts of rising seas, droughts, or pollution. “Our University failed us last year when it announced that it would not divest from the most destructive and corrupt industry in the world – the fossil fuel industry” she asserted.

Other speakers included Evan Seitz, an organizer from the fossil fuel divestment campaign targeting the Somerville, MA pension fund. The fossil fuel divestment movement has received support in the past from Somerville Mayor Joseph Curtatone, but has faced barriers from Somerville’s retirement board. Hayley Ernyey, a leader in the outdoors group Tufts Mountain Club also called on the university to divest from fossil fuels, noting that clean air and a stable climate are important to those who enjoy hiking, canoeing, kayaking, and other outdoor activities.

A Tufts student representing the activist group Students for Justice in Palestine, Julia Wedgle, highlighted the connections between access to water, climate change, and justice for the Palestinian people. “Together we can fight for a future that is fossil fuel free and where Palestine is free from the river to the sea,” Wedgle said. A third student from Tufts Climate Action, Evan Bell, advocated for divestment from fossil fuels and calling on the Trustees of the University to act. “We’re fast approaching a time at which business as usual will no longer support life as we know it,” he argued. He concluded his speech: “lets stand in solidarity with all of those at the front lines of climate injustice. They are standing up and resisting because what we call an apolitical endowment, they call a matter of life and death. This is their lives. This is our lives. Tufts, Divest from destruction and invest in all of us.“

The crowd marched towards the University’s administration building, Ballou Hall, where the trustees were meeting. Organizers noted that fossil fuel divestment was not on the board’s agenda, which was one of their motivations for raising the issue. Protesters chanted “hey hey, ho ho, these fossil fuels have got to go” and other songs as they walked.

Tufts students block the door to Ballou Hall with a paper chain.

Upon arriving at Ballou Hall, students unraveled two long orange paper chains. The chains, according to student Claire Chen, consisted of slips of paper on which Tufts students had written about things of value to them that are threatened by climate change. The chain was draped across columns at the front of the building, symbolically blocking its entrance. “It forces the Trustees to break this chain and damage the things that we care about if they want to continue ignoring climate change and the divestment movement,” Chen told the crowd.

Police officers stood by the crowd to prevent the potential of disruptive entry into the building. Students did not plan attempts to enter the building, but hoped that their voices carried to the administrators and trustees inside.

Last year, Tufts students representing the divestment campaign concluded a series of meetings with a working group on the issue, established by University President Anthony Monaco. Many students felt that they were not respected in these meetings, and were dissatisfied with the process. One student, Ben Weilerstein, noted that there are actions Tufts University could take to begin a process of divesting from fossil fuels. “Professional investors, including Tufts alumni, have approached the University offering to help it divest from fossil fuels, and the Board of Trustees has said no,” he stated.

At the end of the rally, Tufts Climate Action members announced a campaign for graduating seniors and alumni of the University to withhold donations until the University has divested its endowment from the fossil fuel industry.

Why I Believe in Divestment

By Grace Cooper

Before I came to Tufts I had never heard the word “divestment”. I was first introduced to the term when I attended Tufts Climate Action’s general interest meeting and listened as past members talked about the history of Tuft’s divestment campaign. After that meeting I knew that divestment meant taking our investments out of fossil fuel companies, which made sense to me, but I didn’t quite understand the importance of divestment or why these students were so passionate about the campaign. As I became more involved with Tufts Climate Action I slowly began to realize just what divestment could do. Yes, Tufts divesting would take about 70 million dollars out of the fossil fuel industry and protect our university from losing money to the carbon bubble, but divestment is more than just about money, in fact the money is probably the least important part. Taking those 70 million dollars out of fossil fuels is a statement. It is taking away fossil fuel companies’ social license to operate by showing the world that it is immoral to profit off of industries that are mainly responsible for destroying our planet and that commit acts of injustice against vulnerable communities. The more I learned about the benefits of divestment from my peers the more it made sense to me, and as it made more sense to me the more I wanted to become a part of the campaign.

What surprised me is that last year Tuft’s Board of trustees refused to divest from the top 200 fossil fuel companies in the next five years. I had always had the impression that the university I applied to was environmentally responsible. This façade came from the eco-reps, recycling bins all over campus, compost in the dining halls, the farmers market and more. But behind all of these little gestures, the school I was proud to attend was shoveling millions of dollars into the very industries that are destroying the earth and did absolutely nothing to change their ways after the very people who are providing their income through extremely high tuition asked them to stop. Part of me is surprised by this, and part of me isn’t. So many people believe that recycling or taking shorter showers will solve all of our climate problems. In the same way, Tufts thinks that if we have recycling bins on campus its ok to profit off of fossil fuel industries. Thankfully my amazing co-members of Tufts Climate Action have stood up and said no, it is not ok. I could not be more proud to join these heroic students in their fight to create meaningful change by guiding our university towards socially and environmentally responsible practices.

Oil, Hoax, and Gas

The Hoax

This Thursday, October 16, 2014, a strange article was circulated claiming that Tufts University is divesting from oil companies while drilling for a recently-discovered pocket of natural gas under Curtis Hall. It further announced that Tufts would be selling the gas to British Petroleum, which would also sponsor a petroleum engineering center as part of the Chemistry Department in Pearson Hall. Upon closer inspection and communication with President Monaco, it was determined that the article was a hoax.

President Monaco let's us know that it's a hoax.

President Monaco let’s us know that it’s a hoax.

suchwhat2

A hoax, I tell you!

 

 

Digging for Truth

A few other hints further elucidated the article’s phony nature: it was posted on bostonglobetoday.com, not bostonglobe.com, the Globe’s real website. The article’s comment section could not be viewed, and a disclaimer was posted above the article asking commenters to instead email the author directly (the author’s email address looked like, but was in fact not, a valid Boston Globe email address).

Students investigated the fake URL, which has so far clarified very little: it was registered on October 10, 2014 by Domains By Proxy, LLC., so no human name was given. Student members of Tufts Climate Action have since contacted reporters at the Boston Globe to ask for information and to ask if they would cover this strange hoax and the work that is actually being done on campus around divestment, natural gas, and other climate issues. One student, Ben Weilerstein, spoke with a reporter who informed him that it is unlikely the Globe would cover the story. Nonetheless, Jesse requested a link to the phony article. He also mentioned that the Globe’s lawyers might investigate the fake post, since it used the Globe’s name and logo.

 

A gas flare burns at a fracking site in rural Bradford County, Pennsylvania.

A gas flare burns at a fracking site in rural Bradford County, Pennsylvania.

The History

Today’s hoax article, as absurd and unexpected as it was, is based in the history of a campaign that has been working hard to pressure Tufts University’s Board of Trustees to remove the $70 million that it invests in the fossil fuel industry. The fossil fuel divestment campaign at Tufts formally began in September 2012, when a small group of students began a petition calling on the University to divest. In the beginning of fall semester 2013, over 1000 students voted in favor of fossil fuel divestment, passing a student referendum demanding divestment. This referendum, a variety of student protests, a faculty petition with almost 50 signatures and an alumna petition with over 200 signatures, forced Tufts’ administration to meet and negotiate with students. These negotiations culminated in the Trustees voting not to divest.

By choosing to continue investing in fossil fuels, Tufts is supporting an industry that causes at least 5 million deaths every year and that fundamentally alters the chemical composition of our atmosphere with numerous destructive consequences while blocking world governments’ attempts to confront this crisis.
Students are now organizing and building power to increase the pressure on Tufts’ trustees to divest from fossil fuels. Join us. Click here to sign the student petition to demand that Tufts’ divest from fossil fuels, come to our movie screening of Gasland 2, an intriguing and difficult film about fracking, and come to our weekly meetings in Miner 112 at 8:30 PM. You can contact the group on facebook or twitter and reach out directly to some of our student leaders:
Shana Gallagher (shana.gallagher@tufts.edu), Evan Bell (evan.bell@tufts.edu), Lila Kohrman-Glaser (lila.kohrman_glaser@tufts.edu) and Makaylah Respicio (makaylah.respicio@tufts.edu).

Why we can’t take no for an answer

A response to Tufts University’s decision to “refrain from divestment at this time”

This was originally published as an op-ed in the Tufts Daily on February 25, 2014. You can read the op-ed on the Daily’s website here.

By Ben Weilerstein and Devyn Powell

What "ambitious goals," Tufts?

“This is the year to take action on climate change. There are no more excuses,” Jim Yong Kim, current President of the World Bank, proclaimed at this year’s World Economic Forum in Davos. “We can divest” from carbon-intensive assets, he continued, saying that investing in the fossil fuel industry betrays investors’ “responsibility to future pension holders who will be affected by decisions made today.”

Less than three weeks later, Tufts University’s Board of Trustees voted not to divest from fossil fuels, citing “significant anticipated negative impact on Tufts’ endowment.”

As part of President Monaco’s Tufts Divestment Working Group, it quickly became clear to us that the group had not convened to have an “open discussion” about the possibility of divestment from fossil fuels, as President Monaco claimed. Instead, it existed to generate financial models supporting the administration’s expectation that it was financially impossible.

In one of our committee meetings, Patricia Campbell, the Executive Vice President of our University, admitted that divestment could indeed be feasible—but it was clear to us that the administration wasn’t willing to consider the changes to Tufts’ investment strategy that it would entail. It was this lack of willingness to give the possibility of fossil fuel divestment that colored the working group process and left us disappointed by our administration’s utter lack of good faith in its approach to the issue. In his Davos address, President Kim said “Corporate leaders should not wait to act until market signals are right and national investment policies are in place”—and yet our administration continues to claim that Tufts should wait for the carbon bubble to burst before taking action.

Meanwhile, many corporate and institutional leaders are already taking leadership. Mayors of cities including Seattle, Madison, and our own Somerville are pursuing divestment. Norwegian financial services firm Storebrand, which controls more than $60 billion in assets, has announced its intention to pull its investments out of coal and tar sands companies to ensure “long-term stable returns” because they know that those stocks will be “financially worthless” in the future. In January, the CEO of Google joined sixteen other managers of charitable foundations in divesting their assets from the fossil fuel industry. The list goes on.

Our administration and trustees haven’t joined these other institutions not because they are unintelligent or misinformed, but because they are afraid. Perhaps some of our Trustees are afraid to consider that the profits they have gained from their investments in fossil fuel companies have accumulated at the cost of a stable climate and human lives. We have heard both President Monaco and trustee Laurie Gabriel admit that divestment is the moral choice, but they are afraid to challenge one of the largest, most powerful industries in the history of the world. They are afraid to take leadership.

We, like so many of our fellow students, chose Tufts because we believed it was a place that valued ambitious leadership, bold innovation, and active global citizenship. These are the values that Tufts promotes to us throughout its admissions process, in the classroom, and ultimately in the paths we take after graduation. We are expected to lead, make moral choices, and improve our society. But the recent announcement that Tufts will not divest showed that our administration is failing to live up to its own values.

In his letter to the Tufts community, President Monaco wrote: “We are committed to meeting ambitious sustainability goals for Tufts’ operations,” and cited new projects in building energy metering and cogeneration. These are important steps, but compared to the scale and urgency of combating climate change, Tufts’ “sustainability goals” are not in any way “ambitious.”

We have seen this lack of ambition from our institution many times before. It took forty years for Tufts to create an Africana Studies department. It took more than a decade to divest from apartheid South Africa. We don’t have a decade now. We do not have the luxury to be anything short of ambitious. Not when too many communities are already fighting for their lives, for clean air to breathe, clean water to drink, and food to eat. Not when the fossil fuel industry imperils our generation’s ability to live, work, and raise children in a stable and just world.

The student body showed its support for divestment last semester in a referendum. We know that we, the student body, have the moral clarity and ambition that our administration has failed to show. Tufts will not change unless we fight for that change. So we ask that as this campaign moves forward, you stand with us to make Tufts a place that we can be proud of, for the sake of our future.