350 Madison calls on UW Foundation to divest from fossil fuels

Friday, November 11, during UW Homecoming weekend, students, alumni, faculty and community 350 Madison members will urge the University of Wisconsin Foundation Board to divest from fossil fuels and reinvest in renewable energy. They will host a banner stand and distribute leaflets outside the UW Alumni Dinner at Gordon Dining and Event Center, from 6–7:30pm.

The specific request is that the Board of the UW Foundation immediately freeze any new investment in the 200 companies that hold the vast majority of the world’s coal, oil, and gas reserves.

For over three years, 350 Madison along with the UW–Madison Climate Action 350 student group have sent letters, held meetings and campus actions, and delivered thousands of petition signatures urging the UW Foundation to stop investing in fossil fuel companies and reinvest in renewable energy. Members of 350 Madison and the UW student group have also diverted their donations from the UW Foundation to a multi-school divestment fund that will hold the funds until the UW Foundation divests from fossil fuels.

Through such actions, these groups have urged the UW Foundation to honor the UW mission to “… help ensure the survival of this and future generations and improve the quality of life for all.” They also urge the UW Foundation to follow its own commitment to “ethical stewardship of gifts received.”

The fossil fuel divestment movement is the fastest growing divestment campaign in history. Around the globe, people have decided to take matters in their own hands as governments fail to take bold action to confront the climate crisis and fossil fuel expansion continues despite overwhelming evidence of global harm.

Through urging divestment, we directly challenge companies that profit at the expense of people and planet, and that are blocking sensible legislation in Congress. It’s simple: if it’s wrong to wreck the planet, then it’s wrong to profit from this wreckage.

Members of the public are invited to join 350 Madison to tell the UW Foundation to recognize our critical climate emergency and divest from fossil fuels now. They will assemble at 6:00 pm, Friday, November 11, at the Gordon Dining and Event Center, 770 West Dayton Street, Madison. The nearest public parking is in the Lake and Johnson St. parking garage. Dress in consideration of the weather.

350 Madison Climate Action Team is the local branch of 350.org, an international grassroots organization that is mobilizing a global climate movement. 350 parts per million (ppm) of CO2 is the number that leading scientists say is the safe upper limit for carbon dioxide in our atmosphere. We have well exceeded that limit. Learn more: http://350madison.org/ Multi-School Divestment Fund http://www.divestfund.org/