AMS celebrates fossil fuel free investment portfolio
On August 1, 2018, Council voted unanimously to divest from fossil fuels and adopt a new investment policy which reflects the AMS’ position on climate change issues. The new I-8 Policy enables the AMS to divest from fossil fuel companies, and prohibits any future investments. In doing so, the AMS becomes the 900th institution worldwide to divest its portfolio, adding to the $6.17 trillion already divested globally. The policy came into effect on August 15, 2018, when the AMS officially established itself as fossil fuel free.
The AMS recognizes that climate change is a student issue, as young people will bear the consequences of energy decisions made today, and we have a responsibility to invest the Society’s funds in a way that is consistent with student wellbeing. This decision comes as the world faces record temperatures and extreme weather events, including heat waves, wildfires and droughts, that threaten lives in Canada and across the globe. In acknowledgment of this and the call from scientists to keep 75% of known fossil fuel reserves in the ground, the AMS is committed to playing its part and ensuring that the health of our planet and people is a priority; this is a big step in that direction.
The AMS also recognizes the enormous dedication and leadership exhibited by students on issues of climate change and climate justice that has ultimately led to this achievement. In 2014, students showed their support for climate action when 76.9% voted “yes” in a referendum asking whether the AMS should urge UBC to divest. The AMS supports the student body’s interest in climate action, and intends to cover more ground on the AMS’ sustainability and climate justice strides. The AMS will continue to amplify and support student leadership for environmental and social justice, and encourages other student societies across Canada, and the globe, to join us.