Resolution: EA R3: Cornell Investment and Divestment Strategies for a Sustainable Future

ActionAcknowledged by the President



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Please note: This resolution was passed by the assembly as EA R3. It is referenced below as EA R1

Dear Brigitt,

Thank you for submitting to me Employee Assembly Resolution #1. I appreciate the EA’s exploration of the issues raised in the Resolution and the constructive approach you have taken to advancing your views on this important issue.
The Resolution’s declaration of support for our stated goal to seek a more aggressive reduction in the use of fossil fuels that could bring us to achieving carbon neutrality by 2035, together with similar declarations by the UA, SA, GPSA and Faculty Senate, signals a determination that resonates across the campus. In order to meet this aggressive goal, every member of our community will be challenged to revisit priorities and consider different behaviors. Achieving success will require new approaches by Cornell’s administration, adjustments in our personal energy use, expanded teaching and research in sustainability, and a variety of innovative partnerships among students, staff and faculty. Only through considerable, creative and steady efforts, will we substantially reduce our use of fossil fuels.  As employees on this campus, you will be especially critical to the campus’s efforts in reducing our carbon footprint.
The Resolution also recommends that the investment office pursue greater investment in similarly performing non-fossil fuel sectors in order to reduce our reliance on fossil fuel investments without impacting the performance of the endowment. The Investment Office will continue to seek investments in alternative and renewable energy strategies that meet the risk and return parameters established by the Investment Committee. 
The President’s Sustainable Campus Committee already reports annually to the campus the status of our overall sustainability efforts and our Climate Action Plan.  Rather than producing a redundant report, this document is accessible to the Employee Assembly and follow-up questions should be directed to Vice President for Facilities, Kyu Whang.  
I look forward to advancing our collective work toward carbon neutrality. It is one of the most powerful demonstrations of Cornell’s commitment to sustainability.
David J. Skorton
President, Cornell University
300 Day Hall
Ithaca, NY 14853
(607) 255-5201