The university divestment movement took a hit after McGill University’s decision not to divest from the fossil fuel industry.
On Dec. 5, 2019, the McGill Board of Governors voted against divestment for the third time in seven years, against the wishes of the McGill University Senate and many student groups on campus.
Divest McGill is a collection of students on campus that have been vocal in pushing for the school to stop investing in fossil fuel companies since the group formed in 2012.
“As we are facing this climate crisis, continuing to invest in these companies is supporting an industry that fuels and actively profits from climate change,” said Ella Wischnewsky, a second-year student at McGill, and member of Divest McGill.
Last year, McGill was recognized as the International Green Gown Award’s Sustainability Institution of the Year, a prestigious award endorsed by U.N. Environment.
But many students at McGill, especially members of Divest McGill, say the school needs to take more action to earn this title.
“If McGill wants to be a leader in sustainability, it’s important that they actually create a climate policy that is leading,” said Wischnewsky.
McGills’ decision to not divest encouraged one philosophy professor, Gregory Mikkelson, to resign after 18 years of teaching at the university.
Mikkelson said his resignation has sparked an increase in awareness concerning the responsibility of Canadian universities to reduce their carbon footprint and uphold students’ wishes.
Mikkelson, who taught environmental ethics, requested in September that McGill fully divest from fossil fuels.
For him, it was a matter of consciousness when stepping down after the school declined his request, he said in an interview with CBC.
“Because of the subject matter I research and teach, it became clear that this kind of action is imperative,” Mikkelson told CBC about his resignation.
The loss of Mikkelson to the faculty of McGill had a significant impact on many students, who applauded his dedication to combating climate change effects on the environment.
“We are incredibly thankful for Professor Mikkelson, not only for his teaching and mentorship to many Divest McGill members and members of the McGill community, but this tremendous step for taking a moral stance on this issue,” said Wischnewsky on behalf of her Divest McGill members.
Despite the increased backlash after the school’s decision not to divest, McGill’s board of governors continues to defend its commitment to sustainability.
“McGill University is moving forward reducing the overall carbon footprint of its investment portfolio, including those within the fossil fuel industry,” according to an email statement written on behalf of McGill University’s Principal Suzanne Fortier.
McGill aims to achieve carbon neutrality across the University’s operations by 2040, according to a press release. But this is seen as too little too late but those on the other side of the debate.
“As we are facing this climate crisis, continuing to invest in these companies [is] supporting an industry that fuels and actively profits from the climate change,” said Wischnewsky.
The decision to divest would not just reduce the school’s carbon footprint, but would symbolize to universities around the world the importance of responsible investing and prioritizing the environment.
“Students at McGill and across Canada are asking for divestment because when schools are invested in the fossil fuel industry, it’s clear that they have given the social license to these companies,” said Wischnewsky.
Investment in Fossil Fuel
There has been a recent trend of universities stepping back from the fossil fuel industry–comprised of some of the world’s richest companies responsible for extracting oil, coal and natural gas–due to student outrage over environmental concerns.
Globally $3.4-trillion has already been divested. Education institutions are the fourth largest sector that has stopped investing in fossil fuels.
The fossil fuel divestment movement is framed as an ethical issue, invoking the social responsibility of post-secondary institutions and other organizations to take action as leaders in combating climate change.
Ryan Katz-Rosene is an assistant professor at the University of Ottawa with a specialization in environmental debates, who said it is essential students partake in discussions surrounding climate change.
“These conversations that universities are having are not just about reducing greenhouse gases, they are about democracy, power, and wealth, and it is important for students to be involved,” said Katz-Rosene.
Divestment and Student Groups
In April 2016, the University of Ottawa became the first Canadian University to commit to full divestment.
Other Canadian schools, including the University of British Columbia, Concordia University, University of Victoria, and Universite Laval, have recently decided to stop investing in the fossil fuel industry.
Last month, a group of University of British Columbia students launched a hunger strike demanding concrete action from the school on fossil-fuel divestment. After 100 hours, the strike ended with a commitment from the UBC board to fully divest from fossil-fuel companies–its $1.7-billion main endowment fund, according to a CBC article.
The group was organized by UBC’s branch of Extinction Rebellion, a recently popular global environmental advocacy group.
“Universities have always taken the lead in social justice movements and been the grounds for change,” said Rory Mills, an organizer of Extinction Rebellion at UBC. “It’s essential for universities to lead the charge when it comes to combating climate change so that the rest of society can see the example being set.”
Mills acknowledges how deflating it can be for students whose requests are not met when advocating for environmental change.
Carleton and Divestment
At Carleton, many faculty and student-run groups are also advocating for the school to divest from fossil fuels, including Climate Action Carleton and Carleton Climate Commons.
In 2015, the Carleton Fossil Free Faculty (CFFF), a group of faculty at Carleton, encouraged the Carleton Pension Committee to divest their pension holdings from fossil fuel companies. The group continues to advocate for divestment for ethical reasons.
Tessa Hebb is a distinguished research fellow at Carleton with a research focus in responsible investments. In her professional opinion, divesting from fossil fuels is not the best option for Carleton and other Canadian universities.
“When the investor sells, somebody else will buy, and the investor then loses its ability to influence the fossil fuel companies when they are not a shareholder,” stated Hebb.
Hebb said through investment, universities can “help fossil fuel companies take action towards more carbon-efficient production.”
But for others, including Barbara Leckie, the director of Carleton Climate Commons and a professor at Carleton, divestment makes an important statement that is consistent with Carleton’s views on sustainability.
“Divestment is a symbolic action, universities are leaders, and if we divest then others will too, and we will begin to have a larger impact,” says Leckie. “That’s why Carleton needs to send a strong message through divestment that Carleton is not at all associated with fossil fuels.”
Both agree that Carleton needs to become more transparent around where the school’s funds are invested.
Mills offered a piece of advice to students at McGill to “stick to what needs to happen, not what the university believes is possible. If they need support, we will be there in solidarity.”
File photo.
