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Fossil Fuels Divestment (In Progress)

Project History

  • 4/21/2021

    Chancellor Jones sent a letter to the University of Illinois Foundation, asking to “continue to evaluate investment opportunities and exposures for both their financial risk and return along with environmental, social and governance factors.” Chan

Key Objective

Description

The iCAP 2020 objective 9.1 is to "Divest from Fossil Fuels." The responsible campus unit for championing this objective is the Office of the Chancellor.

Background

Fossil fuel companies are defined as companies that profit from the extraction, transportation, or combustion of coal, petroleum, or natural gas. The production and use of coal contribute to en-vironmental, social, and health issues, leading to irreversible ecological damage. The university currently invests less than 1% of its portfolio in coal utility and mining companies and has al-ready divested its direct holdings in coal. As an institution that prides itself on being "a model of sustainability, energy efficiency, and environ-mental friendliness for the world to see,"151 it is imperative that the university's values and commitment to combating climate change are reflected in all of our investments. By divesting from fossil fuel companies, the university will reduce its contributions to and association with the negative environmental and social impacts attached to fossil fuel companies. 

Themes