Carleton College Fossil Free Fund

The Carleton College Fossil Free Fund (CCFFF) is a project of Divest Carleton, a coalition of alumni, faculty, students, parents and staff concerned about the future of our planet and of a just human society. We want to see Carleton College (“the College”) act upon its stated commitment to be a good citizen of a more sustainable world, and to become a leader in the fight for climate justice. Through divestment from fossil fuel companies, Carleton College can take a moral stand that it is wrong to train students for the future while profiting from activities that will deprive them of that future.

Our goal is to leverage the CCFFF to encourage the Board of Trustees to commit to divest all of the Carleton College endowment funds from the top 200 fossil fuel companies. This fund is designed to ensure that if the Board agrees to the stipulations of the CCFFF, the money raised will be used to support the College’s endowment. If Carleton College does not agree to the stipulations outlined below, the money raised will be used to fund the continuing work of community organizers in support of climate justice.

June 1, 2017: By this date, Carleton College must (1) provide Divest Carleton with a written agreement expressing its commitment to divestment, thereby legally binding the institution to immediately freeze any new investment in fossil fuel companies*, and (2) fully divest its endowment from these companies within five years of committing to divestment.

If the College provides such an agreement by this date, the available balance on June 1, 2017, will be donated to Carleton College’s endowment, and the fund will be terminated.

If the College has not provided such an agreement by this date, 25% of the available balance on that date will be donated to 350.org. Another 25% of the available balance on that date will be donated to MN350 to support on-campus campaigns doing climate justice work, including but not limited to fossil fuel divestment.

June 1, 2018: By this date, Carleton College must (1) provide Divest Carleton with a written agreement expressing its commitment to divestment, thereby legally binding the institution to immediately freeze any new investment in fossil fuel companies*, and (2) fully divest its endowment from these companies within five years of committing to divestment.

If the College provides such an agreement by this date, the available balance on June 1, 2018, will be donated to Carleton College’s endowment, and the fund will be terminated. If the College has not provided such an agreement by this date, 50% of the remaining funds will be donated to 350.org (or its successor organization), and the other 50% of the remaining funds will be donated to MN350 (or its successor organization) to support on-campus campaigns doing climate justice work, including but not limited to fossil fuel divestment.

 

UPDATE, 2018: As the College did not meet the requirements outlined above by June 1, 2017, or June 1, 2018, Divest Carleton disbursed the money in the fund at those times, which together totaled $6781.73. In September 2018 Divest Carleton decided to continue the fund with the following conditions:

June 1, 2019, and every June 1 thereafter: By this date, Carleton College must (1) provide Divest Carleton with a written agreement expressing its commitment to divestment, thereby legally binding the institution to immediately freeze any new investment in fossil fuel companies*, and (2) fully divest its endowment from these companies within five years of committing to divestment.

If the College provides such an agreement by June 1 of a given year, the available balance will be donated to Carleton College’s endowment, and the fund will be terminated. If the College has not provided such an agreement by June 1 of a given year, 45% of the remaining funds will be donated to 350.org (or its successor organization). Another 45% of the remaining funds will be donated to MN350 (or its successor organization) to support campaigns doing climate justice work, including but not limited to fossil fuel divestment. Thus 90% of the fund will be donated to national and Minnesota based climate justice campaigns. 10% will be held in the fund to provide continuity and seed money for the upcoming year.

Divest Carleton (or its successor organization) will evaluate whether to continue the CCFFF, on a yearly basis.

Your tax-deductible donation will be made to the Carleton College Fossil Free Fund, a donor advised fund held at the Triskeles Foundation. Triskeles is a public (501(c)(3) charity based in Pennsylvania that helps organizations invest their reserve funds in a mission aligned manner. Thus, donations to the CCFFF are considered charitable donations and are invested in a manner which avoids fossil fuel stocks. For more information about the Triskeles Foundation please visit triskeles.org.

The Carleton College Fossil Free Fund is not affiliated with Carleton College.

 

If you have any questions or are looking to get involved, please email divestcarleton@googlegroups.com or send a message through our Facebook:

https://www.facebook.com/DivestCarleton

 

*200 publicly traded fossil fuel companies as listed by “The Carbon Underground 200” Project on the day that Carleton College commits to divest.

 

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