Divest holdings in fossil fuels, campers insist
After three years petitioning McGill, protesters say they are ‘disappointed’
A small tent city sprouted up among the bustling students toting knapsacks and the historic buildings of academe on the McGill University campus Monday — and the students occupying the tents say they won’t leave until the university freezes all holdings in fossil fuel companies.
About 15 students have set up camp right in the heart of the McGill campus, in Community Square, to underscore what they say is an urgent need to divest from fossil fuel holdings.
“We have presented petitions and research for the need to stop investing in fossil fuel companies,” said Chloé Laflamme, one of the organizers for Divest McGill, which will have activities all week long to mark Fossil Free Week.
“McGill says they are taking it seriously but there has been no concrete action yet.”
According to Divest McGill, the university has five to eight per cent of its $1-billion endowment fund invested in fossil fuels and oilsands.
“We need to stigmatize this industry because it’s very powerful and it’s preventing climate action because of its influence,” said Laflamme.
The students say they plan to spend at least a week camped out at McGill as part of a week of educational events and actions on campus to highlight the impact of climate change.
And university officials said they have no problem with them camping out there peacefully.
Olivier Marcil, vice-principal of communications and external relations, said the students will be allowed to remain “for the time being” since freedom of expression represents an important part of university life.
As for the issue of divestment, he said it’s being handled by the Board of Governors Committee on Matters of Social Responsibility, which has been in frequent communication with Divest McGill in recent months and which will discuss it again at a meeting in October.
“Divest McGill’s request for a moratorium on new fossil fuel investment will be discussed at that meeting,” he said in a statement.
The students have submitted at least two petitions to initiate a process to divest the university’s endowment fund from the fossil fuel industry.
Last winter, Concordia University became the first university in the country to have initiated the process of divesting from fossil fuels. It started with a $5-million sustainable investment fund, which students from Divest Concordia quickly dismissed as insufficient.
Many universities, including Harvard, have refused to divest, and some have said it would be hypocritical to divest when the world is still so dependent on fossil fuels.
Students at McGill, who have some support from faculty, say after three years of lobbying they are getting frustrated with the university’s inaction.
As home to the oldest fossil fuel divestment campaign in Canada and as a leading research institution, they say McGill is uniquely positioned to make a timely decision on the issue.
“We’re very disappointed McGill hasn’t taken any action yet,” said Laflamme.
Divest McGill member and organizer Kristen Perry agreed. “They have chosen not to act despite the urgency of the climate crisis.”