Resolution on Divestment

University of New Mexico Faculty Senate

Resolution for Divestiture from Fossil Fuel Investments

February 10, 2021

WHEREAS the 4th National Climate Assessment Volume II (NCA4), mandated by the US Congress and completed in November 2018, a comprehensive and authoritative report on climate change and its impacts in the United States https://nca2018.globalchange.gov/, finds that “climate change creates new risks and exacerbates existing vulnerabilities in communities across the United States, presenting growing challenges to human health and safety, quality of life, and the rate of economic growth”; and

WHEREAS the NCA4 finds that “Without substantial and sustained global mitigation and regional adaptation efforts, climate change is expected to cause growing losses to American infrastructure and property and impede the rate of economic growth over this century”; and

WHEREAS the NCA4 finds that “Climate change affects the natural, built, and social systems we rely on individually and through their connections to one another. These interconnected systems are increasingly vulnerable to cascading impacts that are often difficult to predict, threatening essential services within and beyond the Nation’s borders”; and

WHEREAS the NCA4 finds that “The quality and quantity of water available for use by people and ecosystems across the country are being affected by climate change, increasing risks and costs to agriculture, energy production, industry, recreation, and the environment”; and

WHEREAS the NCA4 finds that “Climate change increasingly threatens Indigenous communities’ livelihoods, economies, health, and cultural identities by disrupting interconnected social, physical, and ecological systems”; and

WHEREAS the NCA4 finds that “Ecosystems and the benefits they provide to society are being altered by climate change, and these impacts are projected to continue. Without substantial and sustained reductions in global greenhouse gas emissions, transformative impacts on some ecosystems will occur; some coral reef and sea ice ecosystems are already experiencing such transformational changes”; therefore, be it

RESOLVED that the faculty senate requests that the University of New Mexico President and Board of Regents request that the University of New Mexico Foundation divest as early as possible from companies that invest in or are involved in fossil fuel extraction and production; and further that the University of New Mexico Foundation release a date by which divestment will occur and give annual updates to the Board of Regents detailing progress made toward full divestment from investments in fossil fuels; and further be it

RESOLVED that the faculty senate requests that the University of New Mexico President and Board of Regents request that the University of New Mexico Foundation make no new investments in companies that invest in fossil fuel extraction and companies that facilitate fossil fuel production and use; and further be it

RESOLVED that the faculty senate requests that the President and the Board of Regents at the University of New Mexico partner with other institutions of higher education across the state to request that the New Mexico Educational Retirement Board divest from companies that invest in or are involved in fossil fuel extraction and production; and further that the New Mexico Educational Retirement Board releases annual updates to the Board of Regents detailing progress made toward full divestment from investments in fossil fuels; and further be it

RESOLVED that the faculty senate requests the President and the Board of Regents at the University of New Mexico partner with other institutions of higher education across the state to request that the New Mexico Educational Retirement Board make no new investments in companies that invest in fossil fuel extraction and companies that facilitate fossil fuel production and use; and further be it

RESOLVED that the faculty senate requests that the President and the Board of Regents at the University of New Mexico partner with other institutions of higher education across the state to directly support companies involved in fossil fuel extraction and production that seek to transition to alternate business models; and further be it

RESOLVED that the faculty senate requests the President and the Board of Regents at the University of New Mexico support New Mexico communities economically disadvantaged by divestment through a suitable funding mechanism that supports innovation (e.g., UNM’s Grand Challenges) that includes communitybased participatory research to develop innovative and sustainable community economic development, entrepreneurship, and improvement in quality of life, among other social and technological initiatives and innovations related to climate change

Files