Extinction Rebellion

How Colleges Fund Fossil Fuels: Oil and Gas Divestment Explained

All around the world, environmental activist organizations have jumped on the strategy of divestment. From 350.org to Extinction Rebellion to groups of student activists and citizens, thousands of people have realized that halting the institutional funding of fossil fuel giants may be the best way to bring about a reduction in emissions on an individual scale.

But what is divestment? And how does it work?

What is Divestment?

Divestment is the process of selling shares of a publicly traded company. In the case of fossil fuels, it means dumping investment in Shell and other oil companies. When protest doesn’t get a company’s attention, taking profit away from them is a way to demand it. Large organizations, like municipal governments and schools, often invest part of their employee pension plans in oil company stocks. This is done to build an endowment of funding for the school/institution to use for operational expenses. Getting just one college to divest can remove hundreds of millions from the fossil fuel industry very quickly. “In the most recent year with available data, 832 endowed U.S. public and private not-forprofit colleges and universities held assets totaling $516 billion, which averages to $620 million per-institution,” as reported by the Marcellus Coalition.

The History Of A Campus-Based Movement

This strategy traces its roots back to the 1970s, when much of the world divested from South African business interests to protest apartheid, with 350.org starting the utilization of the use of this strategy against fossil fuel companies in 2012. As a campus-based movement, divestment has become an issue at colleges and universities worldwide. According to EcoWatch, “about 150 campuses worldwide have committed to fossil fuel divestment.”

At the University of Chicago alone, over 250 professors support divestment. Unfortunately, the school’s administration, including president Robert Zimmer, have resisted this change- even allowing fossil fuel companies to hold conferences using school resources. Extinction Rebellion Chicago recently held a nonviolent act of civil disobedience at University of Chicago’s “Booth Energy Forward 2019” conference, which (amongst others) was sponsored by Chevron and Exelon.

In a statement, XR Chicago member Victoria said that, “This conference’s goal is to discuss how to maximize returns on fossil fuel investments, and to act as a networking event for graduate students at University of Chicago’s Booth School of Business. We are here to not only confront the members of the conference, but to also reach out to these students to question why they seek jobs within an industry that is destroying the planet they, presumably, also wish to inhabit.”

She continued, “Chicago just became the largest city in the USA to commit to 100% renewable energy by 2050– so why is one of its most prestigious Universities acting as the networking arm for an industry that has been proven to be the single greatest cause of global warming?”

Member Joe agreed by stating that, “we simply can't allow multi-trillion dollar fossil fuel companies to meet, network, and continue profit strategies under the guise of Education, or at all for that matter,” and that “it's time for these institutions to act like the cultural leaders that they claim to be.”

Victoria concluded that, “In 2016 250 professors at the University of Chicago in solidarity with student activists, urged the elite private university to purge its $7.6 billion endowment in coal, oil and gas companies. The university did not act then, we are hoping they will act today.”

Despite the stalemate at the University of Chicago, divestment efforts are becoming so strong on college campuses that they’ve given rise to other activist groups. The Sunrise Movement began as a group of students who had connected over their desire to get their school to divest.

Why Divestment Is A Good Strategy

After just half a decade, divestment campaigns are starting to get results. In 2017, New York State divested $390 billion in oil, gas, and coal interests from its pension plan. Over 40 academic institutions have responded to student and faculty demands and dropped fossil fuels, including Stanford University. The Rockefeller Brothers Fund and the nation of Ireland have divested, too. In a watershed moment, Norway is beginning a massive divestment campaign that will eventually remove $8 billion from the oil and gas sector. Altogether, over $6 trillion had been divested from fossil fuel as of September 2018. 

Most significantly, oil companies are beginning to feel the pinch. In 2017, Royal Dutch Shell quietly reported that divestment was a significant threat to its bottom line. If the size of divestments continues to grow, then the oil giants will finally have to make changes. Investor money is talking. Soon, Shell and its cohorts might have to listen.

You can find out more about Extinction Rebellion International on their website, or follow them on Facebook, Instagram, or Twitter.

You can find out more about Extinction Rebellion Chicago on their website, or follow them on Facebook, Instagram, or Twitter.

Extinction Rebellion Finds Roots in Chicago's Climate Activist Community

Extinction Rebellion has taken the media landscape by storm. From an activist spark in London, it has turned into a global wildfire, catching the attention of news outlets with eye-catching acts of protest. Under the motto Fight For Life, Rebel For Life, this movement pursues dramatic climate action through non-violent protests that are meant to keep climate change constant in the public’s attention.

But beyond the headlines, XR is a fascinating collage of activists from around the world whose frustration with political inertia has culminated in a last-ditch push for political action. In Kind sat down with Joe Phillips of Extinction Rebellion Chicago to learn more about the movement and its goals.

History

On October 26, 2018, the Guardian published an open letter from over 100 members of the British scientific establishment. It demanded government action to curb climate change and declared that the British government, by ignoring the danger, had become complicit in disaster. It called for a citizens’ assembly, though it didn’t define what that might look like. In December, the Guardian published another letter along the same lines. 

Meanwhile, Roger Hallam, a student at King’s College, had been trying to get his school to divest from fossil fuels for two years. In late 2018, frustrated by slow action and endless delays, he changed tactics. Six weeks of direct action got what two years of hard work had not. Hallam and his fellow activists knew they had hit on a model that worked. Extinction Rebellion was born. 

Soon, the rebellion had spread worldwide. Joe can’t guess at an exact number, but reports that the movement’s head count must be in the tens of thousands already. While Europe and the US currently have the highest concentration of chapters, XR movements are popping up in India, Brazil, Burkina Faso. The map of XR chapters grows more crowded every month.

Goals

While Extinction Rebellion is not against the existence of government, it does believe that “business as usual” has caused great harm to the environment. “It must be held accountable for the devastation around us and transform into a government that will ensure the safety of all people,” Joe says. This is especially true in the environmental justice sense. XR US is particularly concerned about communities of color, indigenous people, and the global South, all of which are vulnerable to neglect and environmental exploitation. However, the international movement’s focus is often more generally focused on climate change.

In a time of dread, XR embraces a kind of informed optimism. The IPCC estimates that there’s a 5% change that the world can keep the temperature of the planet from rising more than 2 degrees celsius above pre-industrial temperatures. This would take monumental effort and cooperation unprecedented in world history, but the alternative is literally beyond imagination. Extinction Rebellion - and every other climate activist on Earth - knows the stakes. But XR believes that a 5% chance of success is more than enough when the fate of humanity is in question. “All we are lacking is the political will,” states Joe, “XR’s mission is to see that 5% chance and push 95% harder to get us there.” If it can mobilize 3.5% of the world’s population, XR believes that it can make real change happen. That would mean an activist army of about 263.5 million people. 

As climate anxiety rises and moderates become increasingly disturbed by government inaction, it seems possible that many more will turn activist. If XR itself can’t raise itself to millions strong, then it could at least swell the ranks of general climate change protest and political action, inspiring previously unmotivated people to look up a movement that suits their personality. If Extinction Rebellion, Greenpeace, 350.org, the Sunshine Movement, and all the rest were to collectively grow powerful in numbers, then global change could become a real possibility. It’s the dream, and XR is determined to help bring it to life. As humanity perches on the brink of true catastrophe, a dream might be what tips us back from the precipice.

Meanwhile, chapters like XR Chicago focus on divestment and non-violent civil disobedience. They focus on the local and the immediate. Change will come, the activists believe. Direct action works.

Demands

The international XR movement has three demands, according to its website:

  • The Government must tell the truth about the climate and wider ecological emergency, reverse inconsistent policies and work alongside the media to communicate with citizens.

  • The Government must enact legally binding policy measures to reduce carbon emissions to net zero by 2025 and to reduce consumption levels.

  • A national Citizen’s Assembly to oversee the changes, as part of creating a democracy fit for purpose.

The demands of XR US are slightly different, adding a fourth point:

  • We demand a just transition that prioritizes the most vulnerable people and indigenous sovereignty; establishes reparations and remediation led by and for Black people, Indigenous people, people of color and poor communities for years of environmental injustice, establishes legal rights for ecosystems to thrive and regenerate in perpetuity, and repairs the effects of ongoing ecocide to prevent extinction of human and all species, in order to maintain a livable, just planet for all.

Joe cites the US’s poor record on ecological justice as the reason that XR US amended the international movement’s language. While the UK has its own troubling history with racism, he tells us, those issues are more immediate in the US. There has also been criticism of the UK group’s focus on climate. Detractors claim that despite its emphasis on climate change, it isn’t focused enough on racism and environmental justice. As the entire XR movement is less than a year old, it remains to be seen if XR International will join XR US in adopting intersectionality as a core tenet.

Regenerative Culture

The concept of regenerative culture is nebulous, even by the standards of Extinction Rebellion members themselves, but it is crucial to what XR stands for. Its policies promote it as a necessary piece of the global healing that must happen, suggesting that part of what environmental activism must fix is the human soul itself. It’s a novel concept: better people make better users of the environment.

But what is regenerative culture? Different people interpret it in different ways. Joe takes a personal approach. “To me, on a very personal level, regenerative culture means taking care of ourselves and our loved ones through this difficult and painful process of reckoning with climate breakdown.” 

The psychological effect of climate activism is undeniable, even for people not directly involved in activism. The APA has associated rising levels of PTSD and substance abuse with fear of climate change, also known as ecoanxiety. Activists who think about, talk about, and act out about climate change constantly may be at risk of experiencing this condition. Burnout, Joe tells me, is something to dread and avoid. To prevent it, he takes care of himself by meditating and making sure he stays off of social media for a few hours every day.

Other philosophies on regenerative culture focus on humankind’s relationship with the natural world. A culture that prioritizes the Earth is one that won’t cause an ecological collapse; it might not value the latest iPhone and instead focus on designing for systemic health. A shift this size would be tectonic in nature, but XR doesn’t strive to keep its goals small. In fact, its outspoken desire to change the world quickly is a refreshing change from the moderation of traditional environmentalist groups. 

Strategy

In the past, major activist movements that have set out to address climate change have tried to set reasonable goals and metersticks for success. In some ways, these have been successful; 350.org is one organization whose quiet policy work has made a large cumulative difference. However, like a healthy ecosystem, activism needs members of many different niches to succeed in its goals. The niche that Extinction Rebellion occupies is far different from a policy-oriented group like 350.org, the Sunrise Movement, or the Citizens’ Climate Lobby. Unlike these organizations, XR does not try to work with politicians. Individual XR members often support specific policies, but the group itself isn’t interested in convincing leadership to make changes. Instead, it bases its operational theory on the concept of the Overton window. 

The Overton window, also known as the window of discourse, represents the range of topics that the public will tolerate in conversation and debate. For example, giving animals full American citizenship currently does not fall into the Overton window because the public would generally consider it a preposterous idea. However, vegetarianism, and even veganism, in the name of animal rights is now a common topic of conversation, and there is even legislation that protects animal welfare. Once, those laws might have seemed radical or impractical. Now, it’s a reality thanks partially to activists who shifted the Overton window.

That’s what XR is trying to do with climate change. Using non-violent civil disobedience, it aims to become a topic of conversation. People who laugh about climate activists stripping in the British parliament may view the Green New Deal as a more moderate, reasonable effort in comparison. 

XR’s actions range across the creative spectrum, with the point being to get people talking. The more outlandish the protest, the better the chance that it’ll make the news. Joe relates that he contacted an XR protester from the UK to find out how to mix up large batches of super glue. Why? Because XR UK activists have had great success supergluing themselves to buildings! 

Organization

Because of Extinction Rebellion’s decentralized structure, the recipe for the aforementioned superglue appears to differ not only between different countries, but between different states. This is an apt illustration of XR’s self-governance. 

Decentralization allows XR to run as affiliated small groups instead of one giant hierarchy. That means that geographic areas, like the Chicago Extinction Rebellion wing, can react to local priorities and events rapidly. There’s no overarching approval process and no central authority controlling all of XR’s actions. Some members take on leadership roles, but otherwise, this is a movement of like-minded individuals working together toward a common goal and a common good.

The only requirement for a local Extinction Rebellion chapter to remain a branch of the international Extinction Rebellion movement is that it supports the group’s established guidelines. That’s how XR US can add a demand, but not subtract one. In the absence of tentpole leadership, Extinction Rebellion must maintain its core principles as a guiding light. 

Because XR is decentralized, it can draw from the social structure that exists in localities like Chicago and London. By tapping into this, XR can make a new network of people with preexisting relationships, who already share a passion for environmental activism and a desire to do something about the state of the world. While large-scale events like the London bridge closures draw new members, Joe feels that the movement is only healthy if it thrives at a smaller level.

Funding

Due to XR’s decentralization, its exact financial footprint is difficult to determine. A March 2019 article in Forbes reported that XR had raised over £200,000 in less than a year, but the writer wasn’t clear whether the piece was referencing the entire movement or just its British origins. Most of XR’s money comes from the micro-donations of friends, family, and well-wishers. These flow to the movement through GoFundMe campaigns and events. A DONATE button appears prominently on the web pages of both XR US and XR International. Philanthropists, companies, and partner organizations also support the cause. 

However, most of the expensive hard work of being an activist organization seems to be happening on the parts of the activists themselves. As usual in movements like this one, XR protesters are volunteers. They show up. That donation of time is a large part of what’s caused XR to sweep the globe.

Past Events

Because it is decentralized, XR does not keep a running tally of individual actions. Since there over 300 chapters already, each organizing its own demonstrations, the only way to track actions is through news coverage and individual chapter reports. Actions can range from disruptions at city council meetings to roadblocks to buckets of “blood” poured on the ground at Downing Street. 

In less than a year of operation, Extinction Rebellion have carried out hundreds of small and large actions, making itself known in a way that larger, more moderate organizations have taken decades to do— echoing the emergency of climate change. To an XR activist, there is no more time to waste. If a few gallons of water and food coloring poured down a major street will raise awareness about climate change, then that is worth getting arrested for. After all, what wouldn’t you do to avert the end of the world?

Going Forward

Many new XR chapters are just spreading their wings. Although they have already held smaller actions, Extinction Rebellion Chicago is about to hold its first major public event on April 15th. This action, which will be located outside of the Thompson Center in downtown Chicago, will be part of the first XR International Week. XR chapters worldwide will hold demonstrations until April 22nd, amplifying their demands through cooperation and sheer numbers. 

Joe also reports that XR Chicago is growing, as is the XR movement worldwide. “It’s an exciting time to be part of the movement”, he says. It’s vibrant and building momentum. As it moves forward into 2019, its voice will become louder and its actions become bolder. There may never be a better time for such an outspoken activist movement. Extinction Rebellion is here, and they’re ready to make the world change.

You can find out more about Extinction Rebellion International on their website, or follow them on Facebook, Instagram, or Twitter.

You can find out more about Extinction Rebellion Chicago on their website, or follow them on Facebook, Instagram, or Twitter.