You load sixteen tons, what do you get
Another day older and deeper in debt
Saint Peter don’t you call me ’cause I can’t go
I owe my soul to the company store
Winning PR by losing initial decisions: SAVE‘s doing it right.
Will Lewis write for The Spectator yesterday, SAVE fails to persuade Foundation,
“Compliance with your well-intentioned request is impractical for a number of reasons and perhaps even a breach of the fiduciary responsibility that all of our trustees take very seriously,” the refusal read.
Here’s SAVE’s request, and here’s SAVE’s president’s comment:
Danielle Jordan, senior anthropology major and president of SAVE, said, “There’s a lot of disappointment but we are not going to stop, we don’t see this as the end of our campaign. It lets us know where we stand with the Board of Trustees.”
The VSU Foundation’s Investment Objectives in the Investment Policy and Guidelines states that “Foundation funds should be invested to produce maximum total return consistent with prudent risk limits.”
A copy of what the VSU Foundation called the “ “well-intentioned request” by Students Against Violating the Environment (S.A.V.E.). I added the links and images. -jsq
October 17, 2013
Dear VSU Foundation and Board of Trustees,
Recent years have brought climate change to the forefront of public discussion. A newly released report from the United Nations indicates with 95% certainty that humans are the primary cause of the issue. It is our concern that the continuation of our current practices and our dependence on fossil fuels will only result in continued environmental degradation and human struggle. Knowing the impact that anthropogenic climate change has upon our environment, our health, and our economy, we are asking Valdosta State University to take a stand and join in the effort to address this issue, as social responsibility is part and parcel to the role of public institutions.
As a public institution, Valdosta State University has a responsibility to shape the debate about climate change through its voice, and fossil fuel divestment is another medium for that voice. We are asking that VSU immediately Continue reading
The VSU Foundation knows more than 98% of climate scientists, and also sneers at former divestment from tobacco and apartheid companies. Nevermind that fossil fuel divestment is going faster than either of those. Is it good fiduciary responsibility to stay invested in the stranded investments of fossil fuel stocks while solar stocks are skyrocketing? Is this really how to encourage people to give to VSU? Is that how the alumni want their investments used?
Danielle Jordan, President
Valdosta State University
Dear Ms. Jordan,
The Investment Committee of the VSU Foundation Board of Trustees has reviewed the request from your organization that securities issued by companies engaged in the production of fossil fuel energy be excluded from the foundation’s endowment portfolios. Compliance with your well-intentioned request is impractical for a number of reasons and perhaps even a breach of the fiduciary responsibility that all of our trustees take very seriously.
The various VSU Foundation endowment portfolios are managed Continue reading