Board of Trustees St. Pauls School Concord, NH 03301 May 20, 2014 Dear Members of the Board of Trustees, As loyal alumni of St Paul’s School, we write to urge you to make an immediate public commitment to divest the school’s endowment funds from fossil fuels. We believe that this action is demanded by the school’s mission, which has always defined itself in terms of its moral values. Among the most important of these values is a deep commitment to the common good and making the world a better place. SPSs founding fathers fundamental insight was that the values we learn at SPS should echo in our lives. SPSs endowment portfolio is a statement of belief, as well as the underpinning of the school’s fiscal health: it holds a mirror to the schools principles and reflects the sort of society and future that the school aims for. In the classroom, SPSs students learn that the excessive mining and burning of fossil fuels causes global warming, sea level rises, ocean acidification, and extreme weather events, with serious implications for the spread of infectious diseases, water shortages, and famine. What message does it send when the school enjoys profits by investing in those same unsustainable activities? Indeed, a primary corollary to SPS most important values is stated just below the honor code on the school’s homepage: “St. Paul’s School teaches and practices the sacred duty of environmental responsibility.” We believe that SPSs divestment from fossil fuels should be gradual and prudent, and it should be done in such a way as to protect the schools core programs and commitments. Initially, divestment should target the most egregious fossil fuels and companies, such as those producing the most contamination per unit of energy, or those playing the most damaging roles by misleading the public about the reality of anthropogenic climate change. In addition, we emphasize that we do not judge those of us who make a living from fossil fuels—we all participate to one degree or another in our energy economy. Divestment on the part of SPS will not solve the problem of the worlds overreliance on fossil fuels. But it is an important start, and it is an act of ethical responsibility consistent with the mission and values of SPS. Even symbolic gestures can have an outsized political—and educational—impact. Stanford University and 11 other colleges and universities, dozens of foundations and church endowments, and many important municipalities nationwide have already made the move to divest, leveraging their endowments to make a statement about the importance of socially and environmentally responsible investing. SPS also has an opportunity to help lead the way by redirecting its fossil fuel-related investments towards solutions to the environmental problems that are already upon us and that will become even more catastrophic for future generations. Solar, wind and other renewables are an increasingly attractive investment and will dominate energy in the 21st century. That is where SPS should be looking to reinvest. Our country’s history is replete with contributions made by SPS graduates at its most critical moments. We are convinced that now is such a moment. It is time for SPS to make a statement regarding the clear and present danger of climate change and to join other academic, financial and religious institutions that have already committed to divestment. Sincerely, Wick Beavers 70 San Lorenzo, NM Chris Bartle ‘70 Dover, Massachusetts Nat Wheelwright 70 Brunswick, Maine Steve Crandall 70 Ashaway, Rhode Island Tres Davidson 70 Norfolk, Connecticut John Martin 70 Durham, North Carolina George Wheelwright 66 Camden, Maine Joe Wheelwright 66 Camden, Maine Christina Oxenberg 02 West Egg, NY Charles Scribner 00 Birmingham, AL Elizabeth Scribner 02 Birmingham, AL Patrick Currie 70 Roma, Italia Frank Kenison 70 Concord, NH Alan Frey 71 Portland, ME Charlie Whitehouse 76 Santa Monica, CA Ben Bleiman 99 San Francisco, CA Suzette Oates Kratovil 00 New York, NY Alan Scooter Zackheim 01 Helena, MT Anna Julian 03 Chicago, IL Isabel Rutherfurd Washington, DC Eleonora Monacella New York, NY John Silva Stoney Creek, NC Garrett Gibbs Drinon 02 New York, NY Milla Windham Green Tuscaloosa, AL Austen Earl Los Angeles, CA William Dunn Chicago, IL Evan Asano Venice, CA Jessica Somol Needham, MA Helen Fairman 86 Cambridge, MA Elizabeth Farwell 00 Philadelphia, PA Will Muecke 86 Escazu, Costa Rica Elizabeth Newton cc: Michael G. Hirschfeld, Rector
Posted on: Wed, 21 May 2014 14:21:02 +0000
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