DIVEST WIN: University task group to study divesting of fossil fuel investments

[Doorae Shin]

Aloha,

See attached update on divestment win at the University of Hawaii. It’s a beautiful day to celebrate the power of community organizing & love for our islands.

A 100% unanimous decision, the BOR has committed the University to establishing a task force to determine steps towards divestment from fossil fuels, making our 10-campus UH System a global leader in sustainability.

We are also featured at: http://350hawaii.org/?page_id=240

A heartfelt mahalo to organizers at 350 Hawaii and to 350.org for organizing this worldwide movement towards divestment from the fossil fuel industry that lies at the heart of our environmental crisis. An additional thanks to all of the regents for their leadership and compassion. And thank you to everyone in the community dedicated to environmental sustainability and social justice.

Enjoy the weekend! :)

—

Doorae Shin

Sustainability Studies, University of Hawaiʻi at Mānoa

Student Sustainability Coordinator, UH System

Coordinator, Sustainable UH

Coordinator, Student Sustainability Coalition of HI

dooraeshin.wordpress.com

Did you know that over a quarter of every tuition dollar students spend goes straight to pay the campus utility bill? UH Manoa spends about $40 million/year on electricity.

“Those who love peace must learn to organize as effectively as those who love war.” ~Martin Luther King, Jr.

---------- Forwarded message ----------
From: UH West Oahu News <uhwo...@hawaii.edu>
Date: Thu, Jan 22, 2015 at 4:20 PM
Subject: System: University task group to study divesting of fossil fuel investments
To: uhwo-...@lists.hawaii.edu

UH News Release link: http://www.hawaii.edu/news/article.php?aId=6957

University task group to study divesting of fossil fuel investments

Contact: Lynne T. Waters, (808) 956-9803 Assoc. VP External Affairs, University Relations, External Affairs and University Relations
Contact: Jodi Leong, (808) 492-0597 Director of Communications, External Affairs and University Relations

FOR IMMEDIATE RELEASE

The University of Hawaiʻi Board of Regents today appointed the members of a task group to examine the feasibility and desirability of the university divesting itself (selling off) of investments in companies involved in fossil fuel production, as well as examine the board's policies and goals for the university concerning sustainability.  The task group, to be chaired by Board of Regents Vice Chair Jan Sullivan, will gather information and suggest proposed actions to the board’s Committee on Budget & Finance for consideration and submittal to the full board.

Members of the task group are Regents Sullivan, Coralie Matayoshi, Helen Nielsen and Student Regent Michelle Tagorda; also UH Manoa graduate student Joy Leilei Shih, undergraduate student and Mānoa student sustainability coordinator Doorae Shin, faculty member Joe Mobley, and appropriate representatives of the UH administration. Several of the appointed members testified earlier this month at a committee meeting, urging the regents to take a strong stand to support divesting its endowment funds from fossil fuel companies.

“We listened to the many voices that united to bring this issue to our attention, and we acknowledge their concerns,” said task group Chair Jan Sullivan, who also chairs the regents Committee on Budget and Finance. “I am optimistic this group will come back to the committee and the board with thoughtfully considered actions we can take, mindful of our overarching fiduciary responsibility to UH’s financial health and good returns on our investments.”

Brodie Lockard, spokesperson for DivestUH said, “DivestUH is very grateful to the regents and to everyone who has supported this effort in ways large and small.  This is the kind of leadership Hawaiʻi—and the country—needs.  We are eager to contribute our best, both to exploring how UH might divest, and to helping shape policy that will bring UH to its proper place as an international example of environmental stewardship.”

The task group is expected to meet with the university’s investment manager, hear from other concerned groups, investigate other public universities’ policies in this area, and to make recommendations on divestment by April 30th and on general sustainability policies by June 30th.

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