On February 13, Students Fighting Climate Change (SFCC) sent a letter to former president Jay Hartzell. They want the University of Texas (UT) to recognize its role in climate change, divest from fossil fuels, and meet with them.
UT has the second largest university endowment in the world, according to Investopedia. This includes the Permanent University Fund, which contains 2.1 million acres of land in Texas, mostly leased for oil and gas extraction. There are about 10,000 oil wells on this land, as listed on the University Lands website. The fund also invests in large fossil fuel companies like ConocoPhillips and Chevron, as detailed in a 2023 report.
The UT Board of Regents aims to maximize revenue while promoting environmental awareness, according to their website. They operate several renewable energy projects, including solar and wind initiatives in Texas.
SFCC is advocating for a climate action plan through a petition started last April. The petition, which has over 570 signatures, asks UT to shift its investments from fossil fuels to renewable energy and achieve carbon neutrality by 2040. However, a university spokesperson noted that investment decisions are made by the University of Texas/Texas A&M Investment Management Company.
After Hartzell was replaced by interim president Jim Davis on February 19, SFCC’s research director, Madeleine Lee, expressed hope to still meet with Hartzell. They believe gaining insights from him could help their climate advocacy under the new leadership.
Lee mentioned they have yet to hear back from Hartzell. In 2021, they planned a meeting but it was canceled last minute with no explanation. The Texan previously reported on this cancellation.
As an electrical and computer engineering student, Lee thinks the university should aim for carbon neutrality. Austin plans to achieve this by 2040, but UT has not made a similar commitment.
“If we want to lead in sustainability, having a net-zero plan is crucial,” Lee said. “It’s about setting an example for our country and ourselves.”
UT has the resources and innovation to become a leader in sustainable energy, according to Lee. “It’s just a matter of whether we care enough to take action,” she said.