This week the University of Dayton made news when it announced that "it will begin divesting coal and fossil fuels from its $670 million investment pool." UD joins a growing list of universities choosing to divest endowments due to concerns about climate disruption and sustainability. But what's unique about UD's case is that it is the first Catholic school to take this step.
"This action, which is a significant step in a long-term process, is consistent with Catholic social teachings, our Marianist values, and comprehensive campuswide sustainability initiatives and commitments under the American College and University Presidents' Climate Commitment," University of Dayton President Daniel J. Curran said.
"We cannot ignore the negative consequences of climate change, which disproportionately impact the world's most vulnerable people. Our Marianist values of leadership and service to humanity call upon us to act on these principles and serve as a catalyst for civil discussion and positive change that benefits our planet."
UPDATE: We've got more major divestment news from over the weekend! The Unitarian Universalists voted to divest at their national meeting Saturday, June 28!
Christian denominations nationwide are divesting or considering divestment. Last year the United Church of Christ (UCC) made the news when it approved a divestment resolution brought forward by many of its member churches
Full disclosure - I'm a member of a UCC church and helped with that resolution and a quote from one of the resolution's writers - the Rev. Jim Antal of the Massachusetts Conference of the UCC has stuck with me since he and I first connected on divestment: "If we believe it is morally wrong to wreck the planet, then it follows that it's also morally wrong to profit from wrecking the planet."
Christian fossil fuel divestment has made other news this summer: Earlier this month the Presbyterian Church (USA) discussed a divestment resolution at its general meeting, although it was referred back to a committee for further consideration. Several United Methodist Church conferences are pushing it as well.
Meanwhile, many individual churches are divesting as well - for example, the Unitarian Society of Northampton and Florence just voted to divest.
The divestment movement is catching fire, so to speak, amongst religious organizations. I thought these words from Green Faith director Fletcher Harper explained the movement well: "(t)he fossil fuel divestment movement is advancing because it is small and unafraid. We need the courage and conviction of our faith that is not just limited to legislative or incremental gain. The audacity of faith in God and the power of God's love will make the creation and God's people whole."
-- Heather Moyer, Sierra Club