Ball State University's moral stance against fossil fuel

MUNCIE — A faculty member who has been critical of Ball State University for investing in fossil fuels is applauding the institution's investment policy changes.

"I think we need to keep in mind that there is an emergency associated with climate change," John Vann, an associate professor of marketing, told The Star Press. "We're real close to being pushed over the tipping point where we have runaway global warming."

Why is runaway global warming an emergency? "We're going to die," Vann said. "It could be the end of civilization."

After a 15-month review of divestment from fossil fuel stocks, the Ball State University Foundation board of directors voted recently to create an alternative investment portfolio.

It offers an option to endowment donors to invest in a portfolio to be managed under socially responsible principles.

That doesn't go as far as demanded by "Go Fossil Free Ball State," a student organization that demonstrated on campus this year. That small group wanted foundation leaders to freeze any new investment in fossil fuel companies and divest their assets in those companies within five years.

But Vann, whose undergraduate degree is in physics, said, "At least this is a moral stance and very symbolic. If Ball State divests it's not going to cripple anybody ... but it is a moral stance, plus if a lot of funds start divesting, it will have a real impact on the market. Coal is dying anyway, It's in big trouble. But fossil fuels are coal, oil and natural gas, not just coal."

The foundation's investment policy changes are being implemented even though analysis found that less than 1 percent of the foundation's holdings involve any of the Carbon Underground 200 companies that have the highest exposure to fossil fuel production, according to foundation CEO Cherí O'Neill.

The foundation will also encourage adoption of socially responsible investment strategies among its advisors and managers in addition to making other changes.

"For Ball State to be touting its geothermal system as a way of getting off carbon while investing in fossil fuels is a little paradoxical," Vann said. "But this is a good step, really good."

Ball State President Paul Ferguson's "leadership on this was important, too," Vann added. "He's pretty green. This sends a message that they recognize the significance of fossil fuel consumption to climate change and will give donors who share these concerns the option of following their conscience with their contributions."

"Go Fossil Free Ball State" called for an immediate freeze in any new investment in fossil fuel companies because "it is unethical to pay for our education with investments that will condemn the planet to climate disaster."

Contact Star-Press reporter Seth Slabaugh at (765) 213-5834.