WHY DIVEST?

The argument for staying invested is falling apart. Check out our open letter to WPI administration for an overview of the major reasons for divesting.

Read the Letter

A CLOSER LOOK

AT THE ARGUMENT FOR DIVESTMENT

1. We're in a Climate Crisis

This isn't just about summers getting hotter and winters getting shorter. Oceans are getting more acidic, biodiversity is decreasing, extreme weather events are getting stronger and more frequent, natural ecosystems are being thrown out of balance. The list could go on. This isn't just change, this is a crisis.

2. This is a Social Justice Issue

Climate change is disproportionately affecting the most vulnerable communities, and it's disproportionately caused by people with the most power and wealth. This can be seen at every level: global, national, local.

People in developing countries are on the frontlines of climate change. Around the globe, people are losing their homes, land, liveli-hoods, food, drinking water, and way of life. Unlike the wealthy, these people don't have the means to fight back, relocate, and rebuild. And often times, their governments have lax environmental policies that allow for first-world waste to become a third-world problem.

In the US, the single best predictor of life expectancy is zip-code. Black and Hispanic minorities are exposed to more air and water pollution, more likely to live near industrial pollutors, and less likely to have green spaces. And to compound the issue, underepresented and underfunded communities don't have the means to defend themselves against the corporations and policies that cause this.

3. Climate change is a health & safety emergency

According to the WHO, "climate change is expected to cause approx. 250 000 additional deaths per year, from malnutrition, malaria, diarrhoea and heat stress" in the years 2030-2050. The WHO predicts the increased spread of disease, respiratory issues, undernutrition, mental disorders, physical injuries, cardiovascular conditions, and more. And this isn't limited to any one part of the world.

4. Big oil actively fights progress

When you fund fossil fuels, you're funding the spread of climate change denial and continued carbon dependency. "In the three years following the Paris Agreement, the five largest publicly-traded oil and gas majors (ExxonMobil, Royal Dutch Shell, Chevron, BP and Total) have invested over $1Bn of shareholder funds on misleading climate-related branding and lobbying." (source)

5. Divestment is a powerful statement

Divestment is the most powerful thing a stakeholder can do to protest how a company is operating. It brings attention to the issue and puts social, economic, and political pressure by confronting the fossil fuel industry head on. Divestment was a huge influence in ending South African Apartheid to bringing down big tobacco, and it can do the same for big oil.

6. It doesn't make financial sense

If all those reasons aren't enough, then consider the fact that the fossil fuel industry is dying. Their stock values are set under the assumption that we'll purchase, burn, and replace all the oil in their reserves at the same rate we are now. But we can only afford to use ~20% of the reserves before we pass the 1.5ºC threshold. If we take the necessary steps towards a carbon neutral future, all the extra oil will be stranded assets, and a loss to investors.

And if we don't reach a carbon neutral future, the economic consequences would be even worse. Extreme weather events will destroy infrastructure. Pollutants will incite costly health conditions. Rising temperatures will hurt crop yields, livestock, and labor productivity. Land will be lost to the rise of seas. Import and export prices will rise. The NCA estimates some sectors will lose hundreds of billions of dollars each year by 2100.

7. WPI has a responsibility to take action

Funding climate change goes against the values we are taught as students and the values we are led to believe our institution upholds.

As place of higher education and as respected STEM school, we should not be supporting an archaic business that not only ignores science, but also spreads misinformation.

As an institution that prides itself on innovation, problem solving, and putting theory into practice, it's unacceptable that we continue to be part of the problem and fail to invest in the message we teach.

As a corporation expected to prepare students for a successful future, we should be investing in a future that will exist and will be economically, socially, and politically stable.

As a community that prides itself on diversity, inclusion, and equity, we should not be affiliated with an industry that destroys cultures, prioritizes profits over people, and perpetuates inequality.

As citizens of our local communities, nation, and world, we cannot sit idly while our neighbors suffer and we cannot delay action for the sake of our own convenience or comfort.

As individuals in a position of power and privilege, every single one of us is responsible for standing up for those without a voice.

To quote WPI's strategic plan, “WPI has a vital leadership role to play in addressing the increasingly urgent and complex challenges facing … the health and safety of our planet.” It's time we put our money where our mouth is and stop funding fossil fuels.