Yesterday, Santa Clara University’s VP of Finance & Administration, Michael Hindery, sent a campus-wide email regarding divestment and sustainable investment. While committing to investment in several new socially just and sustainable funds in the next year (such as the Catholic Endowment Fund), Mr. Hindery also stated that the University would not be divesting from fossil fuel industry. Citing that SCU’s sole investments in fossil fuels were in commingled funds, divestment would “leave us in an irresponsibly un-diversified and financially unsound position.”
Fossil Free SCU will be continuing this dialogue with administration, students, faculty, and staff to incorporate a larger theme of environmental justice both on and off campus – goals that include completely divesting our portfolio from the fossil fuel industry, as well as socially just, sustainable reinvestment. In the coming days, Fossil Free SCU will be writing a response to the announcement. We invite you to read this USA Today article to learn more about the issue.