Tag Archives: VSU

Your well-intentioned request is impractical –VSU Foundation

The VSU Foundation knows more than 98% of climate scientists, and also sneers at former divestment from tobacco and apartheid companies. Nevermind that fossil fuel divestment is going faster than either of those. Is it good fiduciary responsibility to stay invested in the stranded investments of fossil fuel stocks while solar stocks are skyrocketing? Is this really how to encourage people to give to VSU? Is that how the alumni want their investments used?

Seen today on S.A.V.E.’s facebook page, VSU Foundation’s response to S.A.V.E.’s fossil fuel divestment request:

October 29, 2013

Danielle Jordan, President
S.A.V.E.
Valdosta State University

Dear Ms. Jordan,

The Investment Committee of the VSU Foundation Board of Trustees has reviewed the request from your organization that securities issued by companies engaged in the production of fossil fuel energy be excluded from the foundation’s endowment portfolios. Compliance with your well-intentioned request is impractical for a number of reasons and perhaps even a breach of the fiduciary responsibility that all of our trustees take very seriously.

The various VSU Foundation endowment portfolios are managed Continue reading →

Fossil fuel divestment fastest

Divestment to Financial Hardship to Change in Conduct Not just faster than apartheid divestment; faster than divestment from tobacco, armaments, and others: fossil fuel divestment. It’s not about direct reduction of market capitalization; it’s about making it socially unacceptable to buy from stigmatized companies, and it works, and it’s working faster than ever for fossil fuels. Oh, and fossil fuel companies are a tiny sliver of university endowments, so ditching them is pain free, especially now that fossil fuel stock prices are not rising while solar stocks skyrocket (and nuclear stocks don’t). Go fossil free, go VSU.

Stranded Assets and the Fossil Fuel Divestment Campaign: What Does Divestment Mean for the Valuation of Fossil Fuel Assets? 8 October 2013 | Authors: Atif Ansar, Ben Caldecott, James Tilbury
Damian Carrington wrote for the Guardian Monday 7 October 2013 Campaign against fossil fuels growing, says study: Investors being persuaded to take their money out of fossil fuel sector, according to University of Oxford study,

A campaign to persuade investors to take their money out of the fossil fuel sector is growing faster than any previous divestment campaign and could cause significant damage to coal, oil and gas companies, according to a study from the University of Oxford.

The report compares the current fossil fuel divestment campaign, which has attracted 41 institutions since 2010, with those against tobacco, apartheid in South Africa, armaments, gambling and pornography. It concludes that the direct financial impact of such campaigns on share prices or the ability to raise funds is small but the reputational damage can still have major financial consequences.

Continue reading →

Solar SAVE goes to SGA about fossil fuels @ VSU

SAVE‘s fossil fuel divestment request made the front page of The Spectator at VSU, and Danielle Jordan of SAVE was pullquote about fossil fuels in another front page story, about solar panels on the Odum Library. The student government didn’t vote to support SAVE’s request, but many senators said they didn’t understand the subject and the student government asked to get educated about fossil fuels and divestment.

Jordan Barela and Von Kennedy wrote for The Spectator 24 October 2013, Solar panels bring green energy to Odum,

VSU is moving in a greener direction.

A solar canopy was recently built behind Odum Library.

“We cannot address climate change without decreasing our dependency on fossil fuels and solar is one way we could change that.”
—Danielle Jordan

The canopy is a 10 kilowatt solar array. The canopy produces energy that goes directly to Odum Library, and does not go to the Georgia Power grid.

Construction of the solar canopy began in September, and was finished earlier this month.

“It is exciting,” Danielle Jordan, president of Students Against Violating the Environment, said. “We cannot address climate change without decreasing our dependency on fossil fuels and solar is one way we could change that.”

The solar panels were manufactured by Continue reading →

Videos, AAUW Candidates’ Forum @ AAUW 2013-10-15

Water was a popular topic, as you can see in these videos of the Candidates’s Forum by AAUW. Same location (VSU Continuing Education Building) as the one Chamber held, but this time the audience got to ask questions. Yes, Virginia, they do all live in their districts, and some of them have widely divergent views about what cities or school boards should do.

Local AAUW President Diane Holliman gave a welcome, and then Dr. Luke Fowler moderated. Here’s the list of qualified candidates. Here’s Matthew Woody’s writeup in the VDT.

Valdosta City Council District 2

John Hogan and Calvin Graham Sr. were present; Sandra J. Tooley was not.

John Hogan pointed out that a road issue could really be a drainage issue, so it’s necessary to look at context.

Calvin Graham Sr. said he was retired military, lived in the district, and had been spending a lot of time volunteering. He indicated the Continue reading →

Fracking at VSU

It’s good to see fracking reviewed in the VSU Spectator, including that it’s coming to Georgia unless we stop it, and we should stop it. It’s unfortunate the story ends with a bad idea when there’s a much better idea already rapidly being deployed: solar power.

Stephen Cavallaro wrote yesterday for the VSU Spectator, Fracking hits Georgia,

Fracking, the process of harvesting the environmentally unfriendly natural gas called shale that is being pushed by the government, plows its way through Georgia.

More like being pushed by fossil fuel companies who have bought too many politicians.

In March, I discussed a deal backed by the government between British-owned Centrica and American-owned Cheniere. The agreement was that Cheniere would spread toxic chemicals across America in order to fuel millions of British homes.

Kind of like Continue reading →

France unfracked

No fracking France, affirms France’s highest court. No, silly utilities, fracking is not like geothermal power. Yes, utilities, you’ll have to write off a lot of fossils in the ground. But there’s far more money to be made in clean energy, so get on with it!

Mat McDermott wrote for Motherboard yesterday, You Can’t Frack France

After a constitutional court review, France's ban on hydraulic fracturing for natural gas and oil has become "absolute," in the words of Environment Minister Phillipe Martin. In its decision, the court found Continue reading →

Fossil Free Valdosta

Fossil Free Valdosta, a facebook page just launched by members of S.A.V.E. (Students Against Violating the Environment), under VSU’s new solar canopy:

A student campaign calling on Valdosta State University to freeze any new investments in the fossil fuel industry immediately and divest within the next five years.

You can help divestment by signing their petition. That will help VSU stop wasting investments on fossil fuels while solar stocks skyrocket. And that will help undermine the political power of the fossil fuel industry. After all, all our investments are political, and there’s nothing neutral about investing in climate wreckage.

-jsq

Solar vs. fossil fuel stocks

Should Harvard President Drew Faust worry that “Significantly constraining investment options risks significantly constraining investment returns”? Actually, if Harvard has been wasting investments in oil and gas for the past year, its endowment has lost a bundle. Ditto VSU.

Let’s compare stock performance of Guggenheim Solar ETF (NYSE:TAN) which invests in solar stocks with the PowerShares DB Energy Fund (NYSEARCA:DBE), which invests in oil and natural gas companies. Yep, that’s 120% for TAN and 0% for DBE:

TAN solar v DBE oil and gas 1 year

Sure, if you go back farther, solar stocks continued to drop after 2009 until this year: Continue reading →

Our investments are political –Divest Harvard to Drew Faust

Divest Harvard summed it up:

Our investments ARE political.

And that’s just as true at VSU.

Not even Tim DeChristopher put it more pithily than that. Samantha Caravello wrote in the Harvard Law Record 7 October 2013, Pres. Faust, There’s Nothing Neutral About Investing in Climate Wreckage, noting that Pres. Faust’s excuses were actually in response to “an invitation from undergraduates to participate in an open forum on divesting Harvard’s $32 billion endowment from the top 200 fossil fuel companies.”

President Faust warned against using the endowment in ways that would position the university as a political actor, claiming Continue reading →

Divestment is about undermining the political power of the fossil fuel industry –Tim DeChristopher

Answering Harvard President Drew Faust’s excuses,

Tim DeChristopher, who went to jail for directly opposing gas and oil drilling and is now a student at Harvard Divinity School,

To seriously suggest that any research will solve the climate crisis while we continue to allow the fossil fuel industry to maintain a stranglehold on our democracy is profoundly naive.

Wen Stephenson wrote for the Nation 4 October 2013, Tim DeChristopher: There Is No ‘Neutral’ in the Climate Fight, including DeChristopher’s statement:

Drew Faust seeks a position of neutrality in a struggle where the powerful only ask that people like her remain neutral. She says that Harvard’s endowment shouldn’t take a political position, and yet it invests in an industry that spends countless millions on corrupting our political system. In a world of corporate personhood, if she doesn’t want that money to be political, she should put it under her mattress. She has clearly forgotten the words of Paolo Freire: “Washing one’s hands of the conflict between the powerful and powerless means to side with the powerful, not to remain neutral.” Or as Howard Zinn put succinctly, “You can’t be neutral on a moving train.”

She touts Continue reading →