To address the climate change crisis, in next five years the Seattle University will divest its $230 million endowments.
The university’s Board of Trustees voted on Wednesday to give a green light to recommendations that will allow the university to reduce by up to 50 percent its exposure to fossil fuel reserve owing companies by December 2020, and to fully divest the endowment from fossil fuel reserve owing companies by June 30, 2023.
“The moral imperative for action is clear,” University President Stephen V. Sundborg said.
“By taking this step we are acting boldly and making an important statement. We join with others also at the forefront of the growing divestment movement and hope our action encourages more to do the same. Together, we can amplify our collective voice and accelerate the transition to clean, fossil-free energy sources,” he added.
Sundborg further said that university has a special obligation to address the climate change crisis being a Jesuit and Catholic university.
Apart from divestment, the university has taken numerous initiatives to reduce greenhouse gas emissions and other sustainability initiatives. It also integrates environmental justice programming in its curriculum.