University of Winnipeg: Stop Investing in the Oil Industry!
This petition had 106 supporters
The University of Winnipeg is committed to sustainability, social responsibility and Indigenous rights. But the University has $3.5 million invested in the oil industry, directly undermining its stated values and putting our futures at risk. We, as students and community members, call on the University to stop these investments and withdraw its money from fossil fuels.
The consequences of continued fossil fuel extraction must be addressed. The scientific consensus is clear: we cannot burn our fossil fuel reserves without dangerously warming the planet. We have already experienced significant changes to our environment, and every day we move further towards unpredictable and irreversible consequences. Indigenous communities are disproportionately affected by fossil fuel extraction, suffering damage to their health and destruction of the environment and wildlife they depend on. Fossil fuels are also unsustainable financially. Global oil prices are already falling, and stock values will continue to decrease as environmental regulation and carbon limits are implemented in response to climate change (the predicted "carbon bubble"). Fossil fuel investments will lose more and more money over time. The only way they will ever stay profitable is if we burn carbon until the planet becomes totally uninhabitable. We don't want to see either option.
We are also concerned that information about the University's investments have been so difficult to come by because the UW Foundation’s investments are not made public. The University is a public institution, funded in large part by the government and students’ tuition fees; students and taxpayers have the right to know where their money is invested.
We call on the University of Winnipeg to:
• immediately freeze any new investment in fossil-fuel companies;
• divest within three years from direct ownership and from any commingled funds that include fossil-fuel public equities and corporate bonds;
• announce that the University is divesting, and specify that it is for ethical reasons, including opposition to climate change and support for Indigenous rights; and
• make all UW Foundation investments public, transparent, and easy to access.
WHO IS WORKING ON THIS ISSUE?
Divestment (opposite of investment) is a global movement calling on institutions to withdraw the money they’ve invested in fossil fuels. Divesting sends a powerful message that we won't support and profit off the destruction of the planet, and reinforces the global push to transition towards sustainable energy and a just economy.
Divest UWinnipeg is a coalition of students and student groups in the University of Winnipeg community that has been fighting to make the university break new ground in building a better tomorrow. The University of Winnipeg is in a crucial stage of the divestment debate. They are currently conducting a "risk assessment" to determine the pros and cons of divesting. Tell your university students and the community cares about the issue and demand they make the right decision! Help make the University of Winnipeg the first university in Canada to totally divest!
Dr. Annette Trimbee — President, U of W
Brian Daly — President & CEO, UW Foundation
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