MacGreenInvest: A Brief History MacGreenInvest has its origins in a student-led group called Fossil-free McMaster, which began in 2013. In the autumn of 2015 student submitted a petition signed by 897 people, and Jim Quinn and Atif Kubursi penned a letter to the administration of McMaster University including over 100 faculty signatures.* The letter requested divestment of endowment funds from the top 100 coal and top 100 oil and gas investments ( https://gofossilfree.org/top-200 ), making the argument that: There already exist 5X proven fossil fuel reserves needed to exceed 2C degrees increase There is a moral case for an educational institution not to invest in destruction of the climate The removal of social license has symbolic importance (cf. divestment over apartheid) Fossil fuel investments will tank in value with the conversion to green energy use After meeting with McMaster's then-President, Patrick Deane, it was decided that Dr....
Divestment gathers momentum in the finance sector BlackRock, the world's largest financial asset management firm ($6.9tn U.S. in funds overall; $87.3bn fossil fuel portfolio), has announced plans to divest from thermal coal and to put sustainability at the heart of its investment strategy. For further details see: https://www.theguardian.com/business/2020/jan/14/blackrock-says-climate-crisis-will-now-guide-its-investments
MacGreenInvest and Carbon Footprint Reduction On Wednesday, February 26 the Office of Financial Affairs at McMaster organized a townhall meeting to outline the university’s infrastructure and investment policies and plans. Part of the meeting was taken up with the plan to reduce the university’s carbon footprint. Reducing carbon footprint is clearly an essential part of addressing the climate crisis, and McMaster should be applauded to undertaking the initiative to do this. Carbon footprint represents the consumption of energy derived from burning fossil fuels, whether this is direct consumption such as using vehicles powered by internal combustion engines, or indirect such as using electricity generated in gas-fired power plants. The reduction of carbon footprint entails two courses of action. The first is conservation—finding ways to consume less energy by making energy use more efficient and less wasteful, such as developing more energy-efficient technologi...
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