In an announcement yesterday, the GU Board stated that it will sell the University's endowment holdings in coal companies and will seek not to make such investments in the future.
It's all about "sustainability" as a primary characteristic of an authentically Catholic university.
In that announcement, GU President John J. DeGioia noted:
The work of understanding and responding to the demands of climate
change is urgent and complex. It requires our most serious attention.
As a university community, we can best respond to this evolving and
ongoing challenge when we embrace the tensions embedded in this
work – and the variety of perspectives that are present – as we seek
an ever deeper understanding of how to respond best in ways that
contribute to the common good.
In a private meeting, they noted to the Holy Father that the GU Trustees' resolution stated that only an "insubstantial portion" of GU's $1.5B endowment is invested in coal companies. Those advisors also noted to the Holy Father that members of one student group, GU Fossil Free--whose members worship at the altar of environmentalism and have been agitating for GU to divest itself of all its holdings in oil, gas, and coal companies--are not happy. They believe GU's Board of Trustees has not gone far enough. The Pope's advisors quoted a statement GU Fossil Free posted on its Facebook page which stated:
It is evident that the university made its decisions for mostly financial and
public relations reasons. If the board had made their decision for principally
moral reasons, then they would have supported full divestment.
Tranlsated: Even though it looks like the GU Board of Trustees are offering a tithe at the altar of environmentalism, they aren't "giving until it hurts" (apparently, not even a little).
No decision was made, according to "Eye on the Schuylkill" sources.
However, in his daily homilies, Pope Francis has been pretty harsh in his descriptions of modern-day Catholic "Pharisees." Perhaps the Pope may note at some time in the near future that Catholics who worship at the altar of environmentalism--like GU's Board of Trustees, but they won't be named directly--aren't exempt from putting their $$$s behind their policies.
At the meeting, one senior advisor is said to have noted, "Jesus said, 'You are either for me or against me.'"
Let the discussion begin...
To read the GU Board announcement, click on the following link:
To read the GU Board of Trustees resolution, click on the following link:
To read the GU Fossil Free post, click on the following link: