What is fossil fuel divestment?
Divestment is an international movement for institutions like universities, churches, and pension funds to withdraw their investments from fossil fuel companies. At the University of Winnipeg, your students’ association alongside a coalition of student groups and faculty are calling on our university to become the first institution in Manitoba to fully divest.
Why is it important?
In order to avoid climate catastrophe, we must limit global warming to 2 degrees Celsius. Fossil fuel companies are prepared to burn five times the amount of carbon that would bring us to this critical point. These companies are also pushing for dangerous projects, including pipelines like Energy East, that threaten the health and environmental well-being of communities.
The U of W takes pride in being an eco-friendly university, with a commitment to reduce its carbon footprint. We’re asking the university to fully live up to this by freezing any new investments from fossil fuel companies and completely divesting within 3 years (about $3 million of the UW Foundation is invested in fossil fuel and related industries).
How can I help?
Divest Winnipeg is a student group that meets regularly to develop this campaign on campus. If you’re interested in getting involved, check them out on Facebook here!
I want to learn more!
Check out gofossilfree.ca for a wealth of information about the campaign.