U of T is poised to change Canada. Currently, U of T has tens of millions of dollars invested in the fossil fuel industry. But thanks to the Fossil Fuel Divestment Campaign, U of T is formally considering divesting its $1.9 billion endowment from fossil fuels. Divesting means U of T would sell its shares in the fossil fuel industry.

Why care?

The fossil fuel industry is the major barrier to addressing climate change. And climate change is the defining challenge of our time. Its damage is accelerating. Increased extreme weather events, melting ice caps, rising sea levels, mass migrations, and devastating crop failures are just some of the consequences of inaction. It is wrong for U of T to say it cares about climate change, while giving money to the industry behind the problem.

As Jay Inslee, governor of Washington, said, “We’re the first generation to feel the impact of climate change and the last generation that can do something about it.”

Climate change is a crisis. It is also an opportunity. The climate movement’s explosive growth offers the best chance for immediate change that is both socially and environmentally just. It gives you the chance to be part of a mass movement on the scale of feminism and civil rights. We cannot lose this fight.

Why fossil fuel divestment?

Fossil fuel divestment is a moral declaration about where our institution of higher education should be putting its money and the kind of world it wants its graduates to end up living in. If U of T divests, it can launch a cascade of divestments by other Canadian universities. Divestment campaigns are already gathering steam in many Canadian universities such as UBC, UVic, and McGill. Billions of dollars can be taken out of the fossil fuel industry if U of T takes the lead.

More broadly, we can delegitimize the fossil fuel industry so that everyone in business and politics is forced to lead on climate change. Our world, both present and future, needs bold and ambitious climate action — and divestment will help tip the scales in that direction. This is where you come in.

Where are we now?

In March 2014, Toronto350 presented its divestment brief, which was signed by several members of the U of T faculty, to President Gertler and U of T’s Governing Council. Similarly, our campaign was endorsed by Margaret Atwood, David Suzuki, and hundreds of members of the U of T community.

After a seven-month wait, the Executive Committee of the Governing Council has formed an ad-hoc committee on divestment. This committee will research divestment and deliver a recommendation to the Governing Council. The Governing Council makes the final decision. If U of T chooses to divest, U of T’s Asset Management Corporation (UTAM) would then decide where else to put U of T’s money.

The names of the ad-hoc committee’s membership have just become available: Peter Burns, Susan Christoffersen, Graham Coutler, Andrew Green, Bryan Karney, Matt Hoffman, Arthur Hosios, Mohan Matthen, Carl Mitchell, Rita O’Brien, and Barbarra Sherwood Lollar.

These eleven are a mix of high-ranking and well-respected experts from different U of T constituencies. The decision they must make over the coming months can make our university an international environmental trailblazer. We hope they seize this historical moment.

Not every university’s Governing Council has seized the opportunity. When a committee at Brown University recommended fossil fuel divestment, the Governing Council refused. So we know we need as much pressure as possible on the Governing Council to make fossil fuel divestment happen.

U of T students have prepared a week of action to support fossil fuel divestment: Divestment Action Week. From November 10-14 students have organized all sorts of events, like an Art Build, a panel, a march, and a party.

The March is our big event. We are asking you to join us. At 12:15 PM on Wednesday November 12 we will gather at the base of College Street and St. George. We will march up to the U of T President’s Office. This will show the ad-hoc committee and Governing Council that students are active about demanding fossil fuel divestment.

We need this to be as big as possible. If you are in a club, reach out to us and your club can formally join the march. After all, the ad-hoc committee needs to know where we, the students, stand. They are making critical decisions about our future.

By intervening, you can help us make clear what’s at stake. U of T’s administration is choosing between supporting fossil fuels, and its students. We are demanding that they choose us.

See you at the March.

Ben Donato-Woodger is a fourth-year social anthropology student.

Graham Henry is a first-year law student.

Sam Harrison is a first-year engineering student.

Ivana Dizdar is a fourth-year visual studies student.

Ariel Martz-Oberlander is a fourth-year theatre student.

They are all members of the U of T Fossil Fuels Divestment Campaign.