Thread by @aaseiger

This time, as a functioning thread: my first Twitter thread to reflect on @Stanford BOTs decision today re: #divestment. In sum, it is the kind of comprehensive approach endowments should be taking. 1/
news.stanford.edu/2020/06/12/tru…

The BOT essentially did 3 things. 1) they issued a statement that climate is an “urgent challenge” & @Stanford is committed to the goals #ParisAgreement (I called for this kind of statement in 2014. Took a while, but it's actually a big deal.) 2/
institutionalinvestor.com/article/b14zbk…

2)@Stanford committed to at least #netzero GHG by 2050 for both operations & investments &, importantly, to engage in research and collaboration to develop mechanisms to achieve net-zero. 3/
stanford.app.box.com/s/rlpo99nu3298…

3) @Stanford affirmed science-based standards for new investments and “vigorous exploration” by the endowment of sustainable investment opportunities. 4/

#3 could be a lot stronger. SMC needs to imagine new org design & governance to overcome barriers to sustainable investments (see: decarbonization advisory panel recommendations for @NYSComptroller) SCIR having a seat at annual portfolio review is a small step, but not enough. 5/

The headline that SMC’s active investments in fossil fuels is down 90% is a little misleading. At least ~1/3 of that is probably performance, the rest likely old investments maturing and then not reinvesting. 6/

This BOT said it disregarded the issue of fossil fuel money in research but the faculty senate was clearly influenced by it. @BenFranta wrote a good piece about this issue in @newrepublic. 7/ @dcullenward @dskenney1
newrepublic.com/article/158086…

In my view, like #divestment, the question of #fossilfuel $ funding university research doesn’t lend itself to a yes or no answer. Also, someday soon SMC won't own fossil heavy assets, not based on principle but on value (or lack thereof.) How will that affect FF research $? 8/

Big oil companies can and must be huge allies on the path to deep decarbonization. And their sponsorship of university research has led to important breakthroughs and discoveries. But their subtle influence on campus is real and needs to be addressed. 9/

I’d like to see @Stanford share its statement of climate principles with all research funders. That is a big departure for a university – to state values (e.g. Paris) and assumptions (e.g. net-zero) against which research will be conducted. 10/

There may also be something to a maximum % “ownership” structure for faculty, labs, institutes, etc. 11/

In sum, today’s announcement from @Stanford was a step in the right direction and still lots more work to be done. Progress at universities can be painfully slow, but times, they are a changing. end/