Module 3.1 Discussion Topic

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University of British Columbia *

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3991

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Geography

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Oct 30, 2023

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docx

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Uploaded by peterswa7837

Module 3 Discussion Topic: Fossil Fuel Divestment in Post-Secondary Institutions in British Columbia The issue of fossil fuel divestment in post-secondary institutions in British Columbia has been around for over a decade. It is understandable that due to a response to climate change, campaigns promoting divestment have grown all over the world, including in British Columbia. The goal of these campaigns is to make universities stop buying and selling stocks and funds that are invested in the fossil fuel industry. These campaigns are one avenue for students to have their voices heard regarding their concerns that climate change is having on the environment. There are definitely pros and cons to fossil fuel divestment. One con of the campaign is that divestment does not have a full impact on the Fossil Fuel Industry and that it has limited effectiveness. It oftentimes becomes a feel-good campaign that does not address the root causes of climate change. It could also be very challenging to find alternate investments; even though there are renewable energy and sustainability sectors, they do not always match up with what investor's goals. Additionally, there are some small communities that rely heavily on the fossil fuel industry and would experience economic consequences to divestment. Currently, the reliance on fossil fuels is still very high with it being the dominant source of energy. This makes it important to look at a more comprehensive approach rather than divestment to address the climate change issue. There are many pros to the divestment campaign. Primarily, I believe the largest impact of the campaign is that it is a symbolic gesture that could change social expectations for investment practices. The students want to push the universities towards using a value-based approach to inform investment decisions, as there is ethical concern about the negative effects of fossil fuels on the environment and on health. Furthermore, campaigners claim that divestment will reduce GHG emissions since selling off investments in fossil fuels could keep the assets of energy companies in the ground by disrupting financing mechanisms for oil, gas, and coal projects in the coming decades. To end, I support the divestment campaign as it aligns with my ethical values. While I understand that the campaigns might not have the full impact needed, these types of grassroots movements are a good start to making this shift.

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