Across the United States colleges are making a push toward energy independence from fossil fuels. Turning orange green, UT may soon be following suit through the Responsible Investment Referendum.
The referendum calls for UT to reflect on its established commitments to sustainability and civility, as well as the values of its students, in its investment portfolio. The student body will potentially have the opportunity to vote on its implementation during this spring’s SGA elections.
The Coalition for Responsible Investment also wants the UT Board of Trustees to establish a subcommittee on responsible investment and publicly declare that the UT system will not invest any future holdings in coal, oil or natural gas companies.
David Hayes, a sophomore in logistics with a sustainability minor, helped organize the efforts because he sees long-term benefits in sustainable energy.
“Our university will benefit greatly from this referendum because it will hold UT accountable for its established commitments,” Hayes said. “UT has publicly committed itself to sustainability and civility, yet our university still invests into companies that are anything but civil and sustainable.
“Students have the right to expect their university to act upon, not only its public values, but also the values of its students,” he added. “UT will never be the leader in sustainability that it strives to be if it continues to invest into businesses that are responsible for the degradation of human life and the environment.”
The referendum also calls for UT to create a proactive committee on socially responsible investment that will screen the university’s investment portfolio on an environmental, social and ethical basis.
Nick Alderson, a senior in environmental studies and sustainability, stresses that the Responsible Investment Referendum means more to the campus community than fossil fuel independence.
“As long as the UT system has investments in fossil fuels they cannot truly live up to their commitments of sustainability and civility,” Alderson said. “You can’t have it both ways. You’re either working towards being sustainable or you aren’t. I want to see UT move toward being truly sustainable. It’s not just a phrase, it’s a way of life and UT must live up to its promises.”
A total of 256 schools across the country, including fellow Tennessee schools, Vanderbilt University and Sewanee, are participating in the movement.
“Ten schools in the Top 25 have a committee on responsible investment to review their investment portfolio on a regular basis,” Alderson said.
The referendum will push for complete independence from fossil fuels and for the university to reflect its established commitments to sustainability and civility.
The university has taken some steps towards a more sustainable future by signing President’s Climate Commitment and developing a plan to be climate-neutral by 2061. Within the parameters of the resolution, UT would divest all of its holding from American Electric Power or Duke Energy Corporation by Jan. 1, 2014, establish a subcommittee on responsible investment under the Investment Advisory Committee to review UT’s investment portfolio on the basis of environmental and social responsibility and make a public commitment to not invest further for coal, natural gas or oil companies.
Eric Dixon, a senior in economics and philosophy, was one of the students who wrote the referendum. Dixon believes the university has all to gain by losing ties to companies like Chevron and Exxon.
“The UT campus community has two main things to gain from this. First, UT has the opportunity to truly live up to its commitments to sustainability and civilty, which is important to Volunteers as well as the innocent victims of practices our investment portfolio indirectly supports,” Dixon said. “Second, UT could actually stand to gain, financially match, or outperform traditional investments.”
Hayes is confident that if passed, the referendum will pave the way toward establishing a more eco-friendly campus for current and future generations of students.
“Students will have faith in UT’s plan to become climate neutral, because until we stop funding climate change, we will never be climate neutral,” Hayes said. “Through the divestment of fossil fuels, UT will also have more freedom to invest in clean and renewable energy that is not responsible for wide spread health and environmental issues.”
Students will potentially have the opportunity to vote on the referendum on April 3 and 4 in the SGA election.
“Students are the foremost stakeholders of (UT),” Dixon said. “Students believe that monies invested under the purview of this university should be done in a responsible manner.”
To learn more about the UT Coalition for Responsible Investment, students and faculty may attend SPEAK meetings on Mondays in the UC Room 227 at 8 p.m.
