An Open Letter to National Taiwan University
June 24th, 2020
On June 23rd, 2020, National Taiwan University published the “NTU Social Responsibility and Sustainability Report.” The report showcases various efforts of the school in regard to social and environmental issues. In the chapter “NTU social responsibility and sustainability management,” it shared the management of its endowment fund. Starting in 2019, the divestment action began as the school set up the “National Stocks Sustainable Investment Guideline” to prevent the endowment fund from being applied to pollution-intensive and high-emission industries.
This report solidifies the position of NTU as the 1st higher-education institute both in Taiwan and in Asia that divests from fossil fuels. It puts more than 1.86 billion NTD (63 million USD) of funds away from fossil fuels and alleviates the burden of the climate crisis. Establishing investment guidelines in 2019, NTU “will continue to divest from pollution-intensive industries and will take the corporations whose CSR ranks are in the top 50 places as primary investment targets” in 2020. The University will have fully divested from fossil fuels by the end of this year.
From last year’s promise to the Student Association to this year’s report, NTU has now joined the global campus divestment movement that consists of more than 170 universities. It is a welcoming sight for organizations that focus on climate change, and 350 Taiwan shows our appreciation and our respect. We hope to see that the university fulfills its promise and continues to share the process through the NTU Social Responsibility and Sustainability Report.
Once again, 350 Taiwan urges other universities in Taiwan and in Asia to join the action of fossil fuel divestment, to evaluate the endowment fund of your campus, and to stop funding fossil fuels. Let us all protect the future for ourselves and for the future generations. We can all take a step forward to tackle the climate crisis!