841

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Beaver

Issue 841 | 24.11.15

the

Newspaper of the LSE Students’ Union

LSE Divest Campaign Heats Up Over Green Week Ellen Wilkie Executive Editor

LSE DIVEST, A CAMPAIGN FOR the London School of Economics (LSE) to divest from Fossil Fuels, Tobacco and Armaments companies has taken a step up during LSE SU (Students’ Union) Green Week. Their Day of Action on Thursday 19th November saw a march around campus to deliver a letter to Craig Calhoun, Director of the LSE. This week they also increased lobbying of Council prior to their meeting today, Tuesday 24th November, where a decision on divestment will be made ahead of COP21, the Paris Climate Change Conference, next week. The Day of Action on Thursday was arranged following the leak of a document, seen by The Beaver, prepared by the Socially Responsible Investment Group to be proposed to council today, whose contents the LSE Divest campaigners found disappointing. The Day of Action saw a group of around 30 students march around campus chanting and holding banners emblazoned with slogans such as ‘Carbon is Dirty’ and ‘SOAS Divested, Why Can’t LSE?’. This march culminated at the office of Craig Calhoun to deliver a letter outlining LSE Divest’s concerns and demands to the Director himself. This renewed effort on the part of LSE Divest comes alongside a recently released study by Corporate Knights, a Canadian research firm, showing that LSE has lost £2m over the last three years as a result of not divesting from fossil fuels. LSE Divest believe that this demonstrates divestment to not only be ethically, but also financially responsible. The Divest campaign is pushing for ethical investment by the school. The LSE has an investment portfolio, much the same as as many other UK universities, and these investments are handled by fund managers. The money made from these investments is reinvested back into the school. LSE Divest are pushing for the LSE to instruct their fund managers to not invest our money into Fossil Fuel industries such as Shell and BP,

so that the LSE will no longer be funded by the Fossil Fuel industry. Following the ejection of Occupy LSE from the Vera Anstey room late last academic year, Calhoun promised meet some of the occupiers demands, including to prepare a statement in support of divestment from fossil fuels before COP21. There has been, in the eyes of the occupiers, a disappointing lack of action to fulfill this promise and the time to fulfil it is running out, as the Council meet for the final time before COP21 today. The letter to Craig Calhoun contained the Divest campaigners’ disappointments at a leaked document to be submitted to Council by the Socially Responsible Investment Group. The letter put forward the points of the proposal that the Divesters find particularly concerning: that it does not mention divestment from oil and gas companies, only divestment from coal and tar companies, and even those were without a recommended timeline. The broad support for divestment from students and staff were overlooked in the proposal. A spokesperson from LSE Divest told The Beaver that “LSE Divest are disappointed by the lack of ambition shown by the School on divestment. Despite active engagement with the School through all the relevant official channels, the recommendations made to Council by the Socially Responsible Investment Group are disappointing in two ways. They fail to recommend divestment from oil and gas companies, despite the fact that these fossil fuels are also responsible for damaging climate change. There is no justification in the SRIG proposals for the focus on coal and tar sands only. While we recognise partial divestment from coal and tar sands as a small step in the right direction, we are disappointed by the absence of any timeline or commitment on this action, as well as the silence on oil and gas. We want the School to make a credible commitment to full divestment from the top-200 fossil fuel companies in the next five years. LSE’s inability to meet this demand represents a failure of moral leadership, from an institution that ought to be pioneering the path to a responsible investment philosophy, and a zero-carbon future.”

Comment: Give LSE Democracy A Chance Katie Flynn Democracy Committee Chair

Two weeks ago Peter Lyon submitted a scathing critique of democracy at LSE to The Beaver, this is Katie Flynn’s open letter to him. DEAR PETER, The first thing I’d like to do is thank you for your comment piece in The Beaver last week. You’re right in that UGM’s do typically start slowly in Michaelmas term, and after all any publicity is good publicity. I must admit, however, I was conflicted on how to react. After my initial wave of anger which may or may not have involved me brandishing a copy of the article in the faces of various innocent parties in the ARC, Library and Wasabi, I decided to not to reply. Why acknowledge an article which contains so many inaccuracies? Your piece expressed concerns which have been written about more times than an exam

Features partB

timetables apology (ask Liam Hill and Conor Rohan). Add this to the irony which arises after reading the article citing alleged ‘repeated’ motions, I decided it wasn’t worth it. However, after todays successful UGM, I feel the need to respond. As a wise man* once told me, every now and again in life you need to just press the big red button, so this is me doing exactly that (Corbyn, watch and learn). Starting from the top, you claim there to have been one UGM so far this term. Having just happily chaired our fourth successful one of the year, this is confusing. While I must admit that I don’t find poor mathematics surprising from a prominent member of the Hayek society, this inaccuracy needed to be challenged. However, the part I did find particularly concerning is that you personally attended and proposed a motion at the third UGM of the year. I might politely suggest you... Continued Page 8

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