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Posted April 20, 2016
Speech by Arabelle Schoenberg, a member of Fossil Free Yale, recorded and produced by Melinda Tuhus
The second week of April saw a major escalation of climate activists on college campuses across the U.S. demanding their universities divest from fossil fuel holdings. At Yale University, a push for divestment coincided with the Global Colloquium of University Presidents which featured an address by United Nations Secretary General Ban Ki-moon speaking on the issue of preserving cultural heritage. The April 12 speech was attended by 30 university presidents from all over the world, including several from the U.S.
An hour before the event, Yale announced that it had divested $10 million in coal and tar sands investments out of its $25.6 billion endowment. Yale's Chief Investment Officer David Swenson said the rationale for the change was, in part, due to a determination that such investments are unlikely to be profitable if carbon pricing is ever implemented in the future. Carbon pricing is designed to reflect the true destructive cost to the climate and the environment of burning fossil fuels. Swenson said Yale's endowment portfolio now includes only minor investments in coal and oil.
Immediately following the UN secretary's keynote address, where he spoke about his support for Yale climate activists' call for all universities to fully divest from fossil fuels, 120 students and community members attended a rally organized by the group Fossil Free Yale and the Association of Native Americans at Yale. Between The Lines' Melinda Tuhus attended the rally and recorded first-year student and Fossil Free Yale activist Arabelle Schoenberg, as she spoke at the rally about Yale's divestment announcement.
ARABELLE SCHOENBERG: Today has been a huge day for divestment. (applause)
Fossil Free Yale (FFY) has been doing a ton of work with ANAAY, which is the Association of Native Americans at Yale.
A lot has happened today; it's been kind of a whirlwind day for all of us. We're outside right now the Global Colloquium of University Presidents, so presidents from Yale, Brown, Columbia, Princeton, NYU and Penn are hosting Ban Ki-moon, the UN secretary general, for the keynote address for this colloquium. They are uniting under the theme of "Preserving Cultural Heritage: Challenges and Strategies." So, FFY heard about this and we were like, man, that sounds very hypocritical. How can these presidents claim to value cultural diversity and cultural legacy without even engaging in a conversation concerning the literal destruction of communities and victims of the extractive fossil fuel industry?
So, Ban Ki-moon just delivered the keynote address, and we had a bunch of members of FFY inside the room with him. He spoke on climate change, he spoke on climate justice. So Ban Ki-moon has spoken directly against the power of the influence of fossil fuel companies and the harm they inflict primarily on low income, the indigenous and communities of color. He has urged companies to "reduce their investments in coal and in a fossil fuel-based economy," and he believes that "saving our planet, lifting people out of poverty and advancing economic growth are one and the same fight."
So FFY believes it is important to note that climate change is much more than just an environmental issue; it's also deeply, deeply human and personal. So earlier this afternoon, in preparation for this event, we received news one hour prior to the beginning of our action, that Yale has decided to remove $10 million of our endowment from a few fossil fuel companies (cheers).
So this is a huge victory, right? Yale has used this, unfortunately not as a chance to expose the social harm or stigmatize these powerful companies but as an economic tactic, saying this makes financial sense, because in the future, coal and oil will no longer be economically profitable.
Yale has framed this choice as a confirmation of [Yale President Peter] Salovey's sustainability initiative rather than acknowledging the work of groups like FFY and ANAAY, who intend to frame divestment as a tactic for the stigmatization of the companies that harm so many people.
Given the lack of information we have been given, it seems apparent that Yale has made a deliberate attempt to kind of mess with this action today, and we don't really think this timing is coincidental. But it's also important to recognize that Yale has heard us and Yale's scared. (Applause).
So it was hard for me, at first when we got this information, to realize and to begin to understand that the university really is acting secretly; the university is acting behind closed doors and kind of intending to mess with and sabotage the work of these student groups who have been working so hard to create this event.
But all that aside, it's also really important to recognize this recent change as a huge victory for divestment, especially at Yale. Regardless of intent, Yale's corporation members are starting to talk about climate change and to change their behavior. This victory is small and there's still a lot of work to do and it's really important that we continue to keep fighting for what we believe in and that we don't rest until we start to see concrete change here at Yale and also around the world. (Applause)
So, this victory comes at a really meaningful time in conjunction with other divestment campaigns around the country. So, today, students at UMass Amherst are currently, at this second, engaged in a sit-in, so they have a hundred people who are sitting in and we got word of a potential 50 arrests of students at UMass Amherst. And we also had word from Harvard, where four students have been arrested for their action as well.
So, basically, we just want to talk about this in the context of the greater divestment movement around the country and really that universities and people in power are really starting to see us, and not only are they starting to hear us, but they're also starting to listen. And Yale's statement today demonstrates that they're starting to respond to student activists on campus. And this partial victory is an important first step – although it doesn't reflect an ethics-based universitywide commitment to divestment, hopefully it represents a change in the consciousness of these universities and really a step toward what we've been fighting for all along. So thank you guys all for coming. (Applause)
For more information visit Fossil Free Yale at fossilfreeyale.org and the Association of Native Americans at Yale at nacc.yalecollege.yale.edu/students-alumni/association-native-americans-yale-anaay.
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