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IN THE STUDENT CONGRESS
OF THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL
SCR-94-XXX
A RESOLUTION TO EXPRESS THE CONGRESS’ SUPPORT FOR COAL DIVESTMENT
02 March 2013
02 March 2013
05 March 2013
INTRODUCED BY CHAIR CRAYTON
COSPONSORED BY REPRESENTATIVES ARISTY, BRUSH, GUZEK,
FERGUSON, MELLINI and STELPFLUG
REFERRED TO FULL CONGRESS
PASSED BY FULL CONGRESS, 24-6-2
WHEREAS, UNC-Chapel Hill has an endowment valued at more than $2 billion that invests in energy and
natural resources companies and industries, which includes coal;
WHEREAS, a recent Harvard University study found that “the life cycle effects of coal and the waste
stream generated are costing the U.S. public a third to over one-half of a trillion dollars annually”;
WHEREAS, the International Energy Agency reports that coal accounted for 45% of energy-related
carbon dioxide emissions globally in 2011 and that at least two-thirds of proven fossil fuel reserves
(including coal) must stay in the ground by 2050 to avoid catastrophic levels of climate change;
WHEREAS, the University’s endowment should not invest in an industry that contributes heavily to
climate disruption and therefore jeopardizes the future of today’s college students;
WHEREAS, independent analysis by the Aperio Group confirms that divesting from the 15 worst coal
mining and coal-fired utility companies will not impact investment returns, finding that it would
increase risk only by about a half of one one-thousandth of a percent and therefore “has no real
impact on risk”;
WHEREAS, numerous analyses indicate that coal is in fact a risky financial investment because low natural
gas prices, high construction costs, environmental regulations, coal price volatility, and the increased
competitiveness of renewable energy and energy efficiency are eroding the industry’s bottom line;
WHEREAS, the coal mining and utility industry has used lobbying and campaign contributions to obstruct
and delay environmental regulation of the mining, burning and disposal of coal and prevent serious
federal or state policy actions to address global warming;
WHEREAS, Chancellor Holden Thorp has committed to stop burning coal at UNC’s own cogeneration
power plant by May 2020, and at the time of his decision he said, “Universities must lead the
transition away from fossil fuels to clean energy”;
WHEREAS, student groups at more than 250 college and university campuses across the U.S., including all
Ivy League schools and many of UNC’s peer institutions, are calling on their endowments to divest
from all fossil fuels, including coal, oil and natural gas;
SCR-94-XXX
Certify correct and proper by
_____ Speaker
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WHEREAS, concerns about the environmental, climate and public health impacts of coal consumption
have driven much of this activism, including here at UNC;
WHEREAS, 77 percent of UNC student voters urged the university’s endowment to divest from coal in
student body elections on Feb. 12, with more than 4,200 votes in support;
WHEREAS, the UNC Sierra Student Coalition has gathered more than 3,000 petitions supporting coal
divestment from members of the UNC student body since September 2011;
THEREFORE, BE IT RESOLVED BY THE STUDENT CONGRESS OF THE UNIVERSITY
OF NORTH CAROLINA AT CHAPEL HILL THAT:
The 94th Student Congress of the University of North Carolina at Chapel Hill, as the elected legislative
authority of the Student Government of the University, representing all of the 29,278 students of the
student body expresses its support for UNC’s endowment divesting from coal companies.
Section 2. A copy of this resolution shall be sent to the following individuals:
1) Holden Thorp, Chancellor of the University of North Carolina at Chapel Hill;
2) Wade Hargrove, Chair of the University of North Carolina at Chapel Hill Board of Trustees;
3) Sallie Shuping-Russell, Chair of the Board of Trustees Budget, Finance & Audit Committee;
4) Jon King, President & CEO of the UNC Management Company;
5) The Daily Tar Heel.
Done by the Student Congress on this 5th day of March, 2013.
Paige Comparato,
Speaker, 94th Student Congress
SCR-94-XXX
Certify correct and proper by
_____ Speaker