VUW FOUNDATION FAILS TO UPHOLD PLEDGE TO DIVEST FROM FOSSIL FUELS

Written by Heyam Murad, Colden Sapir, and Hugh Acton 

Climate Action & Resistance VUW

It’s fair to say that things around the world aren’t going too well. Alongside a clear rise in militarization, facism, and authoritarianism, the climate system that supports the lives of everyone on Earth is starting to fall apart. Temperatures are continuing to rise, with the planet surpassing 1.5°C and our carbon based economies showing little sign of slowing down. 

Fortunately, the Vice Chancellor of Te Herenga Waka announced in 2014 that the University had taken an “ethical investment stance” and pledged to divest up to $650,000 away from fossil fuels. It’s reassuring to see that a university which prides itself on political thinking, environmental studies, and even Antarctic research would be committed to mitigating their participation in one of the most destructive industries on the planet. 

Over a decade later, the VUW Foundation has yet to put their money where their mouth is. 

Early last year, in the absence of any divestment confirmation from VUW, we emailed the foundation to see if they had followed through with their promises. Unsurprisingly, they did not confirm any specific exclusions of fossil fuels, but pointed us towards their weakly-worded Statement of Investment Policy and Objectives, which states that their “preference is that there be no direct investment in… carbon emitting fossil fuels”. But does reality reflect their preferences? 

Well, we were also provided with the Foundation's current investment managers, one of which is branded as “sustainable”, yet its funds include companies such as ExxonMobil and Shell in its portfolio. Former VUWSA president Marcail Parkinson, who held a seat on the board, was also able to confirm firsthand that the university remains invested in fossil fuels. 

The UN Secretary-General said in 2024 that fossil fuel companies are the “godfathers of climate chaos” and are causing “planetary destruction”, yet they continue to see record profits year upon year. For a university who runs marketing campaigns based upon “challenging injustice” and putting “people over planet”, having any money at all invested in climate criminals like ExxonMobil is disgraceful. 

Around the world, dozens of universities have already divested from fossil fuels, including the University of Auckland and the University of Otago here in Aotearoa. Fossil Free UoA was a student-led movement that won their demands in 2019, with support from over 1.6K Facebook followers and 240 staff. Financial choices are ethical choices, and VUW needs to step up!

Last year at Te Herenga Waka, massive student pressure forced the Foundation to move their money away from Israeli government bonds. It has been done before and can be done again. Universities should be led by the values of their students. United, student power can prevail! 

We are now calling on VUW to be transparent about the amount of fossil fuel investments that they currently hold, and to promptly divest this money as per their promise in 2014. 

If reading this has left you feeling frustrated with our university’s hypocrisy and you’d like to take action, then make sure to sign our open letter to the VUW foundation and take part in some of our upcoming events! 

For those of you who’d like to learn more about how to participate in hands-on activism, our direct action training workshop during the VUWSA Sustainability Week is perfect for you (Friday 23rd May, 2pm, SU229 MT Foyer). This can prepare you to take meaningful action for people and the planet. 

We will also be hosting open discussions centred around climate justice on Fridays from 12:30pm to 1:30pm, in the Hub. This will be an opportunity to meet new people, share your thoughts, and just hangout! 

To keep in the loop about upcoming direct actions, chuck us a follow on instagram @climateaction.vuw or email us at vuwclimateaction@gmail.com.