Based on CISR feedback, GU Fossil Free defines 5-year divestment strategy in new memo

We were grateful for the opportunity to productively engage with the Committee on Investments and Social Responsibility on March 20, 2019, regarding our most recent proposal. The meeting included a fruitful discussion that encouraged us to think creatively about the execution of our proposal’s second objective of divestment within a five-year timeline. After reflecting on the committee members’ feedback, we submitted the following memo to the committee chair, Jim Feinerman, on Thursday, March 28.

GUFF Memo Page 1

The pdf file of this 5-page memo can be viewed and downloaded here: bit.ly/guffmemo328 

This memo describes our four-step strategy for Georgetown to divest from fossil fuels by 2024. This memo hinges upon the creation of “Clean Energy Standards,” which we base on a credible scorecard system by the Union of Concerned Scientists, as well as a working group to look at the fossil fuel companies in our investment portfolio and assign scores. The plan encourages Georgetown to divest from companies who do not meet our standards. With this plan, Georgetown could engage with a select group of companies that are committed to climate honesty and incorporating more renewable energy into their businesses, while also divesting from companies that do not align with our values.

The memo also proposes engaging with Georgetown’s peer higher education institutions to form a coalition built on the notion of engagement over this five-year timeline.

Any input from the community on this proposed strategy or the content of our January proposal can be directed to gufossilfree@gmail.com. All members of the Georgetown community are invited to learn more about this campaign and join our efforts by attending GU Fossil Free’s weekly meetings on Wednesdays at 9 pm in ICC 217A.

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