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"Providing public forums to openly discuss the most important and contested issues of the day is central to the mission of a public university. I'm proud that C-SEF, CESR and the Burridge Center are able to provide such a forum on this issue,"
says听Matthew G. Burgess, Director,
The Center for Ethics and Social Responsibility (CESR), Center for Environmental and Social Futures (C-SEF), and The Burridge Center for Finance, are jointly presenting a panel discussion titled , on March 1st, 12:30-2pm at Kittredge Hall at 彩民宝典.听
This event is open to the community and designed to explore the arguments, data and research underpinning diverse perspectives on calls for The University of Colorado system to divest from fossil fuels. The program aims to prepare CU students to tackle a critically important issue across their careers, as they develop into the future citizens and leaders we need.听
听鈥淎s current/future investors and business leaders, Leeds students are increasingly aware of their impact,鈥� says Matthew Fleming, Director of Operations at the Burridge Center for Finance. CESR and Burridge work together to elevate these conversations within the business school. The cross-campus collaboration with C-SEF further advances awareness of the relationship between business and positive environmental and social impact.
The Business Case for Divestment
The University manages several billion dollars in institutional funds, including endowment, pension and operating funds. Since the 1970鈥檚, Fossil Free CU has been calling for divestment of endowment and pension funds from oil and gas companies. During the Right Here, Right Now Global Climate Summit at 彩民宝典, students and supporters organized to raise visibility of the ongoing movement.
"I was struck in reading the Washington Post recently about climate finance issues by a quote from the U.S. Climate Envoy John Kerry in Davos. When asked what we primarily need to successfully address human contribution to climate change, his response was pretty straightforward: Money, money, money, money,"听 says听Heidi VanGenderen, Chief Sustainability Officer, 彩民宝典
While the moral case for climate action and carbon reduction remains a key component of the , financial data increasingly supports the business case for ESG investing. In just the past few years we have seen the operating environment for business shift in response to pending SEC rules calling for disclosure of climate risks, new reporting standards for measuring emissions across a company鈥檚 value chain, and international agreements that encourage participation in a circular economy model, among other developments.听
Recent research also suggests that ESG investing is not a riskier strategy but a positive contributor to financial returns.听
over the past ten years and beyond, show that superior financial returns have been achieved with divested and ESG invested portfolios 鈥� and that being invested in fossil fuel stocks is now fiduciarily irresponsible,鈥� says John Powers (MBA鈥�83). from Deloitte underscores the financial risks of not taking action on climate change.听
Talking Strategy
鈥淲hat鈥檚 the most effective way to accelerate decarbonization? Outside-in threats that gradually undermine companies鈥� social license to operate or inside-out engagement to drive incremental change? That is the core question of the divestment debate,鈥�
says Joshua Nunziato
Changing direction on the strategy for a large fund with many stakeholders involves a complex series of considerations. Scholarly studies of the main for and against divestment have explored how effective calls for divestment have been in moving us toward a low carbon future and eliminating our use of fossil fuels.
Heidi VanGenderen notes that 鈥渢he questions of concerted divestment and investment are an extraordinarily important part of the climate challenge. The investments we require to effect the energy transformation to help address this unprecedented challenge is also, arguably, the greatest opportunity presented in the history of people on the planet. Clear and open debate about the whole of this landscape must and is taking place to find a solid path forward.鈥�
Debating Divestment Panel March 1st 12:30-2pm, Kittredge Hall
This panel will explore these economic issues, and the relationship between capital and climate change. It will engage students and community members in the complexities, concerns and pressure points in the divestment debate, equipping them to engage broadly in the work of decarbonization across their careers.
Matt Burgess encourages students who want to advocate on either side of this issue 鈥渢o do their homework. If you鈥檙e asking CU administrators to give you their time, and you鈥檙e asking CU faculty and staff to invest their retirement savings according to your advice, you owe them that much,鈥� he says. Matt adds, 鈥淚 encourage you also to attend the March 1 event.鈥�
Registration Information
to attend Debating Divestment,听on March 1st, 12:30-2pm at Kittredge Hall at 彩民宝典. This event is open to the community.
Speakers include:
Joshua Nunziato, Assistant Teaching Professor in the Social Responsibility and Sustainability division at Leeds, will be moderating.