An introduction to the divestment movement at McMaster, even if you’ve never heard the word “divest” before. No tutorials required.
By: Natalie Palumbo, Nicole Graziano, Mymoon Bhuiyan and Adeola Egbeyemi, Contributors
This article is written by members of McMaster Divest.
Instructor: OPIRG Group McMaster Divest
Email: macdivest@opirgmcmaster.ca
Lecture: One-time reading
History of MacDivest
Welcome to the Winter 2021 one-reading course: DIVEST 1A03! In the context of higher education, fossil fuel divestment involves universities removing their investments in stocks, bonds and other forms of invested funds from the fossil fuel industry. Like many universities, McMaster University currently invests in fossil fuel companies.
At McMaster, the divestment movement traces back to 2013 when OPIRG project Fossil-Free McMaster began to advocate for divestment from fossil fuel companies. Although the efforts of students and faculty of Fossil-Free McMaster led to McMaster creating a committee to evaluate the possibility of divestment of endowment funds, ultimately no further action was taken.
Divestment Evaluation - Details
Moral Reasons
The use and production of fossil fuels are directly tied to climate change. It is a fact that as fossil fuels are mined, carbon emissions enter the atmosphere and raise the global average temperature, causing a host of problems and exacerbating others.
It’s no secret that fossil fuel companies have been repeatedly linked to human rights abuses and have shown that profits trump human rights, notably on Canadian soil. This is particularly concerning when we consider the effects of fossil fuels on Indigenous populations within Canada, such as oil spills and discharges.
Consider this: How can McMaster honour the promises made in their land acknowledgements if their investments support companies that build pipelines across Indigenous lands, threatening the livelihood and sovereignty of Indigenous Peoples?
How can McMaster honour the promises made in their land acknowledgements if their investments support companies that build pipelines across Indigenous lands, threatening the livelihood and sovereignty of Indigenous Peoples?
We know we sound like huge tree huggers, but hear us out — as students, it is also discouraging to know that our tuition supports an institution that’s invested in the slow roast of the planet by way of fossil fuel companies.
Leadership Reasons
“As a global university, we must recognize the important role we play through all of our sustainability efforts, which include responsible investments,” said McMaster president, David Farrar in 2020.
All universities will likely end up divesting, it is simply a matter of when. How embarrassing is it that in the middle of a climate crisis, McMaster wants to watch and see how divestment impacts other universities first?
This contradicts the idea that McMaster plays a global leadership role, as they are riding on the coattails of global institutions, as well as smaller Canadian universities that have shown real leadership. McMaster prides itself on its achievements, its sustainability efforts included. It would be a hollow victory if McMaster announced its divestment plan after watching other universities divest and assessing their processes.
Divestment Misconceptions
Misconception 1:
“But when we divest from these companies, we lose our seat at the table as shareholders, we can no longer engage and advocate for them to be more sustainable!”
Sustainability is avoiding the depletion of natural resources to maintain Earth’s ecology. There is no amount of advocacy that can make a company, whose goal is the antithesis of this (i.e. mining natural resources), environmentally friendly. Even if we could, the activism coming from McMaster’s tiny investment could not change a company’s mind anyway.
Misconception 2:
“If our investment is so tiny, then what is the point? You won’t make a difference with divestment, so why bother?”
McMaster’s investment is small in terms of financial capital, yes, but is massive in terms of social capital. Divestment looks to devalue social capital by sending a message that investing in fossil fuels is not okay. In addition, divestment is becoming an increasingly sound investment decision to make, no matter how small. Fossil fuels seem to be an industry in decline, seeing increasing amounts of trouble regularly.
Misconception 3:
“Oh, that’s real nice. You want McMaster to divest from fossil fuel companies, while the whole campus uses fossil fuels to run! Very hypocritical for the consumers to divest from the suppliers.”
First of all, if McMaster wanted to research, plan and conduct a smooth, equitable transition to a fossil-free campus, we would be all for it! But McMaster obviously isn’t a top world research university, so that’s silly talk. Divestment isn’t mutually exclusive from going fossil-free, we’re just a part of the worldwide movement for this particular systematic change.
Misconception 4:
“I know investment funds and tuition money are two separate pools of funding. But it’s still university money that should be diversified for a balanced portfolio.”
We agree! Loss of diversification is not good. That’s why there are companies in the energy sector that can be invested in that do not emit carbon dioxide! In fact, MacGreenInvest is a group of McMaster faculty that has been working since 2015 for reinvestment of these divested funds into sustainable initiatives.
The benefits of divestment are that McMaster can begin to actively, mindfully and genuinely invest in green companies and start-ups, forming a reciprocal relationship with the technology and energy sources we want to see thrive in the future.
We know we haven’t answered all the misconceptions about divestment at McMaster. There are still well-placed concerns about the complexities of removing pooled funding and monitoring progress year-by-year. But once you start thinking about the complexities of how to divest, you’ve already agreed then that divestment is necessary.
Next Steps
Hopefully you, the reader, are now on board with the fossil fuel divestment movement. You’ve aced the exam and secured that 12! Now what?
You can keep up with MacDivest work to move McMaster away from unsustainable investments on Instagram and Facebook. You can sign this petition calling on McMaster to take divestment action. You can even simply spread awareness with your friends and community by, for instance, sharing this article.
As individuals, it would be difficult to convince McMaster to divest. However, as a collective group, in the McMaster community and worldwide, working towards an actual brighter world is possible.
Graphic by Elisabetta Paiano/ Production Editor
The threat of climate change was made clear by the fires that spread across Australia earlier this year. Heat waves and drought caused bush fires that permanently altered the country’s landscape, which were made at least 30 per cent worse by the impacts of climate change.
Australia’s devastating fires are only an early example of the consequences of the climate crisis. Although, across the world, Hamilton has its own possibilities for disaster. In November it came to light that 24 billion litres of sewage spilled into Chedoke Creek from 2014 to 2018, which the city kept hidden despite possible impacts on the local environment and residents.
In addition to the Chedoke Creek contamination, the city was charged in late 2019 to clean up toxic chemicals that had been seeping into local waterways. The city-owned John C. Munro International Airport had years-old chemicals in surrounding soil which leached into nearby water during wet weather. The spills make it clear that Hamilton needs to be prepared for the environmental impacts of climate change, especially flooding, which will become the city’s main concern along with extreme heat.
Rising temperatures bring the possibility for droughts. Conversely, increased precipitation could lead to flooding, rising lake levels and could negatively impact shoreline erosion.
Hamilton also has to worry about greenhouse gases, which are largely produced in the city by burning fossil fuels, transportation and industry. In 2018 the city committed to five points of action which include creating a greenhouse gas emissions inventory and an emissions reduction target.
In March 2019 Hamilton declared a climate emergency along with hundreds of other municipalities across Canada. Along with the declaration, the city committed to a climate vulnerability and risk assessment, which has yet to be completed. In December 2019 city councillors approved a climate action plan, but they have yet to include any deadlines or costs associated with the project.
One important change is that the city will try to apply a climate lens to future actions. According to Kate Flynn, the acting director at the centre for climate change management at Mohawk College, the city is using a climate lens to prevent some of the worst effects of climate change and adapt to impacts we can’t avoid. For example, when the city makes an infrastructure improvement, they must consider the future environmental impact of chosen supplies and processes.
Flynn also pointed out that infrastructure changes are necessary to prepare for climate change, specifically in transportation and public works. She noted that over time Hamilton will be at risk for increased precipitation which would lead to flooding and harm water quality, so updates to city infrastructure and residential homes are necessary to avoid damages.
“I think one of the things that's really important to dispel is this myth that Canadians are going to be okay,” said Flynn, “the thing about climate change is that it's a global issue, but the effects of it are going to be hyperlocalized.”
“I think one of the things that's really important to dispel is this myth that Canadians are going to be okay [. . .] the thing about climate change is that it's a global issue, but the effects of it are going to be hyperlocalized.”
While the economic and physical effects of climate change are becoming more of a concern for the city, the social impacts are still largely overlooked. Caitlin Thompson and Joann Varickanickal, volunteers with Climate Ready Hamilton, a community organization, stressed the importance of social cohesion for disaster preparedness.
Thompson and Varickanickal suggested that students get to know their fellow community members and think about how vulnerable populations, like elderly, homeless and low-income community members, will be disproportionately impacted in times of climate crisis. One project CRH worked on sought to map out spaces open to the public for food and shelter in times of disaster. If a heat wave occurred, vulnerable residents without air conditioning could find a place to cool down through the community-sourced resource hub.
Beyond cases of climate disaster, CRH also works to help communities improve the environmental conditions brought on by local pollution.
“Look at communities that are in the industrial core . . . we know that they have poor air quality, but a lot of people in those neighborhoods don't know that they can work together and you can report those things to the government . . . part of this project now can be going into neighborhoods and supporting neighborhoods and understanding their rights,” said Thompson.
Thompson and Varickanickal also noted the importance of preparing a 72 hour kit.
“If there's a massive emergency . . . aid will begin [about] 72 hours after,” said Thompson. “Basically you need to be able to be prepared and stay okay by yourself for 72 hours because you may not get help.”
According to the city of Hamilton website, residents should prepare a 72 hour supply of food and water, along with a “go bag” with items like a first aid kit, blankets and more.
Preparing for 72 hours only works in case of an emergency, but we have to prepare for a future where climate disaster is a regular part of our lives. According to the Centre for Climate and Emergency Solutions, climate resilience is a framework for thinking about climate change and our ability to prepare for, and bounce back from, climate-related disaster. Climate resilience accounts for the irreversible damage already done to our climate, along with possibilities for mitigating some of the worst effects we could see in the future. Flynn noted that climate resilience isn’t only about infrastructure, but also how we can improve our social systems to better support one another through the impacts of climate change.
“If you're talking about climate resilience, well we should be talking about resilience in other ways too? Like making sure . . . everyone has access to good food no matter what happens, right? So it's kind of a framework for thinking through solutions through the lens of equity,” said Flynn.
Despite possibilities for climate resilience, the state of climate change is dire and sometimes frightening. Flynn reflected on how she continues to work in climate change management despite the cataclysmic effects on the climate.
“I think why people are like, how do you get out of bed every day and think about climate change? And I'm like, because believe it or not, there's so many opportunities within climate change to just like do all the things that we've always thought about doing, but never really prioritized. There's no more excuses,” said Flynn.
"There's so many opportunities within climate change to just like do all the things that we've always thought about doing, but never really prioritized. There's no more excuses."
Hamilton will face unique challenges from climate change that the city will have to manage. To create a climate resilient city, community members will have to come together to care for one another. Whether it’s creating a 72 hour kit or a map of resources, knowing who needs help in your community and how will be integral.
[spacer height="20px"]Amidst the overwhelming amount of scientific evidence in support of climate change, it would be virtually impossible to argue otherwise. Human influence, at least to some extent, has undoubtedly contributed towards global temperature increases and the rise of extreme weather events. But quitting meat and reducing my shower time isn’t going to change anything.
You should care about climate change; it’ll likely affect you or has already affected you in some capacity. It would be immoral, however, to place the guilt and responsibility of rectifying climate change on individual actions.
According to the 2017 Carbon Majors Report, 71 per cent of global greenhouse gas emissions since 1988 can be attributed towards just 100 companies. Of those 100 companies, a mere 25 contribute to over half the total industrial-based emissions. It makes sense then to focus on changing these companies’ ways rather than target individual consumers.
Initiatives for consumers to “go-green” have not always been accessible nor even effective. Take, for instance, the proposed controversial plastic straw ban. While well-intentioned, straws only account for four per cent of all plastic waste, and advocates in favour of straws often emphasize their importance for those with disabilities. While any reduction in plastic waste is important, we must critically evaluate such “green” initiatives to determine just how much positive change they generate.
Rather than imploring consumers to make changes in their lifestyles, most of which will not impart serious, significant changes towards the climate, efforts should be placed on forcing companies to change their ways. The 25 major contributors of greenhouse gas emissions are largely oil and fossil fuel companies. Climate change initiatives thus should focus on changing, or even eliminating, this harmful industry.
If students have any responsibility, it would be to advocate for the reduction of fossil fuels, help further the development of clean, sustainable alternatives and hold corporations accountable for their emissions. It is your prerogative to participate in initiatives that reduce your carbon footprint but know that the actions of the individual can only go so far. Climate change is too large and too severe an issue to be mitigated solely by personal solutions.
These individual choices can only regain importance once we live in a society where undergoing the environmentally-friendly action is economically viable and accessible for all. There’s no doubt that solar panels are an effective alternative source of energy, but substantial benefits are not observed until a community of houses use solar energy rather than the few who can afford it. Students especially are often not in financially-available positions where they can afford to choose the most “environmentally-friendly” options.
It would be ignorant to shift the blame for climate change then on the working class. Instead, we must collectively work against corporate and governmental power to invoke meaningful systematic change that can then allow for individual responsibility to take precedence.
So, by all means, care about climate change. It’s important that we keep talking about these issues as without discussion, there can be no change. But there’s only so much that we as students can be expected to do. At the end of the day, the burden to reduce our carbon emissions to the levels required to save us all rests on the shoulders of those who made the mess.
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