Christiana Figueres, chief of the U.N. Framework Convention on Climate Change, recently called on investors to drop their fossil fuel investments in favor of green energy alternatives, echoing similar warnings from the World Bank and HSBC. No longer is this solely an environmental argument, stated Figueres, as “climate change increasingly poses one of the biggest long-term threats to those investments and the wealth of the global economy.”
Boston College, as a Jesuit university, has a moral obligation to ensure that its endowment is invested in a socially responsible manner. However, the administration has remained opposed to any discussions of divestment, ignoring the resolution for divestment passed by the student government last year.
Now, BC has the additional pressure to divest from fossil fuel companies to avoid the risk of the carbon bubble and severe financial losses. It’s time to dump fossil fuel holdings and invest in a clean future.