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Bitcoins Fossil Free WSU asks those considering donating to the WSU Foundation to specify that your donation be invested in fossil-free, environmentally sustainable stocks
Editor’s note: Opinions expressed in this letter to the editor are those of the author alone and do not reflect the editorial position of ClarkCountyToday.com
The WSU Foundation, as the fiduciary for Washington State University, is required under Washington’s Uniform Prudent Management of Institutional Funds Act (UPMIFA) to invest the WSU Consolidated Endowment in alignment with the university’s charitable purposes. These include promoting the wellbeing of the WSU, local, Indigenous, and global communities through environmentally sustainable policies and practices. However, the Foundation’s continued investment of a percentage of the endowment in the fossil fuel industry undermines WSU’s charitable mission.
Fossil fuel investments contribute to climate change, harming human health, compromising agriculture, and disproportionately affecting marginalized communities. Recognizing such impacts, in 2023 WSU issued its Commitment to Sustainability, pledging “pursuit of a sustainable and just future for our System, our partners, and our global neighbors.” The Sustainability Task Force was soon established to strategize development for environmental sustainability throughout WSU. Such measures clearly indicate WSU’s charitable purposes include environmentally sustainable frameworks. Yet the Foundation undermines these efforts, continuing to prioritize short-term financial gains over long-term public wellbeing by investing millions of dollars in an industry driving climate change.
Fossil Free WSU, a subcommittee of the Associated Students of WSU’s Environmental Sustainability Alliance, has advocated for divestment since 2021. We have conducted a student survey and petition, provided regular public comments at WSU’s Board of Regent meetings, and held tabling events and rallies. Despite this, the Foundation remains resistant to divestment. Many other U.S. universities have committed to fossil fuel divestment, proving its feasibility.
In a shift of strategy, Fossil Free WSU will submit a formal letter of public complaint to Washington state Attorney General Nick Brown on Earth Day, April 22, calling for an investigation of the Foundation’s investment practices regarding fossil fuels in light of its fiduciary responsibilities under UPMIFA.
If you are considering donating to the WSU Foundation, we encourage you to specify that your donation be invested in fossil-free, environmentally sustainable stocks.
Audrey Michelle Atchley
Fossil Free WSU
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