On April 30th, Georgetown University’s Committee on Investments and Social Responsibility (CISR) published a memo recommending that the university “avoid investments in companies whose principal business is the extraction of tar sands.”
The recommendation comes after GU Fossil Free (GUFF) submitted a proposal in November 2017 advocating to divest the endowment from companies active in tar sands extraction in Alberta, Canada. The proposal cites social, environmental, and financial arguments against investing in tar sands companies.
“Divestment brings us into much-needed alignment with our guiding Jesuit values, and is a great step forward on the path to full divestment. It is a victory both for marginalized communities and for mitigating climate risk in our endowment,” GUFF member Theo Montgomery (SFS ’18) said in response to the decision.
CISR’s recommendation will now make its way to the Committee on Finance and Administration. If approved, it is expected to be voted on at the Georgetown Board of Directors annual meeting in June.
View all of CISR’s meetings minutes and memos here.