The Graduate Students’ Union’s (GSU) council tonight voted to mandate the union to support Trinity College Dublin Students’ Union’s divestment campaign.
Speaking at an extraordinary general council meeting, Áine O’Gorman, who has led the “Fossil Free TCD” campaign, called on the GSU to support it to add “another element of pressure on College” to divest.
O’Gorman emphasised the benefit of postgraduate students supporting the campaign, arguing that “postgraduates have a better connection with academic staff”.
A freedom of information request seen by The University Times in October revealed that Trinity, as of June 30th, 2015, had €6.1 million indirectly invested in oil-related stocks, through its investment in funds managed by Irish Life Investment Managers, an asset-management group. This figure equates to 3.5 per cent of the total value of Trinity’s endowment fund.
The College Board and Investment Committee are looking at how divesting would affect Trinity financially, including with regards to the penalties that Trinity would incur if it was to move its €170 million endowment out of the funds.
Last month, the campaign revealed that an open letter calling on Trinity to divest from fossil fuels, signed by more than 80 public figures, included 27 Trinity professors and world-famous linguist Noam Chomsky. The letter was formally presented to the College Board, Finance and Investment committees by the campaign. O’Gorman said that College were “receptive”, and agreed with all the motives for divesting, but still had to do consultation on the matter.
In October, Trinity College Dublin Students’ Union (TCDSU) Council voted to support the divestment campaign.
Eleanor O’Mahony also contributed reporting to this piece.
