At the December Board of Trustees Meeting, the board voted 7-0 to pass a revised NMU Investment Policy.
The policy calls for 100% divestment from fossil fuels by 2028, 50% of which by 2025, and an investment of 15% into sustainable investments.
The university currently has no direct investments in fossil fuels, but does have 6% indirect passive investments in companies through funding.
DivestNMU has been working on this proposal since 2021, attending a number of board meetings, city commission hearings, and leading several on campus protests since then. Co-leaders Kolibri Drobish and Maggie Bailey said the administration was very keen on working with DivestNMU to create the university’s divestment strategy.
“I think this is a big step in the right direction for the university as they have joined the international movement of fossil fuel divestment. It is also something that I believe will be a great marketing strategy for the university as it shows the university’s commitment to sustainability and climate action,” Drobish said.
The board meeting also heard three other sustainability items brought forward by President Brock Tessman.
The first, highlighted projects by the NMU EcoReps student organization, noting an expressed interest from the Board of Trustees to work more closely with the student group in carrying out Green Fund and Zero Waste Projects. Tessman asked the Trustees to consider signing a sponsored Green Fund Project and sponsoring a Zero Waste Project in 2024.
The second, announced the appointment of Jessica Thompson, current Director of SHINE, to serve as Assistant Vice President of Sustainability, while maintaining her current role.
“I think many of these exciting things are happening at NMU right now because of the Board, President Tessman, and the entire executive leadership team. Issues of sustainability, diversity, belonging, and wellbeing are front and center; and not because it is good business sense – which it is – but because it is the right thing to do for our students and our community,” Thompson said.
Lastly, a report was provided on the Carbon Neutrality Master Plan, which outlines the university’s goal to achieve carbon neutrality by 2050.
“With the passing of the Carbon Neutrality Plan also done at the Board of Trustees in December it is a great time to be a student at NMU. Of course as students we wish this all was happening at a faster pace because the climate crisis is only increasing in intensity, but we are proud to be students at a university that is putting sustainability at the forefront of its goals,” Drobish said.
Minutes from the Board of Trustees meeting can be viewed here.
