Open Letter Template And Guide (Page 3 of 5) in pdf

the emissions embodied in its coal exports are taken into account, Australia is the world’s sixth

largest direct and indirect emitter of carbon dioxide.

In order to be part of the solution to the threat of global warming, we must diminish our domestic

reliance on fossil fuels and replace them with clean, renewable sources of energy. We must also

wind back our coal exports. We now know that fossil fuels cause climate change of unprecedented

destructive potential. We also know that many in this industry spend large sums of money to

mislead the public, deny climate science, control legislation and regulation, and suppress alternative

energy sources.

By divesting from its financial involvement in fossil fuel production and export, [insert name of

university] will send a strong leadership message to the wider community that the time of fossil fuel

reliance must come to an end.

In addition to the moral imperative for fossil fuel divestment, there are strong financial reasons for

such a move. Financial analysts and international organisations such as the World Bank recognise

that fossil fuel assets now bear material and growing financial risks. Climate policies intended to

keep global warming below 2 degrees Celsius, coupled with increasingly affordable renewable

energy technologies and socio-political pressure to keep fossil fuels in the ground will mean that our

reliance on fossil fuels as an energy source will diminish rapidly in the future. Fossil fuel resources

and associated technologies face a recognised risk of becoming stranded assets. Moving away from

fossil fuels is not only an ethical choice but also a smart business move.

Recent pronouncements from authoritative quarters support our call for action. Christiana Figueres,

Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC)

states that the “continued and dangerous rise in greenhouse gases . . . is in large part the direct

result of past investments in . . . fossil fuels.” She warns that “institutional investors who ignore

climate risk face being increasingly seen as blatantly in breach of their fiduciary duty.” (January 15,

2014)

The University [insert details of University’s sustainability commitments, eg. Taillores Declaration,

Universitas 21 Statement on Sustainability or any other sustainability commitments they are signed

onto or have made independently]. Honouring these commitments is central to maintaining the

University’s integrity and repuatation as a credible institution and leader in its field.

Open Letter Template And Guide Page 3