By Brian Collins
As LUSU is starting a new email campaign to support Fossil Free Lakehead, I think it’s an appropriate time to give the dissenting opinion.
It is important to ensure that the endowment fund remains diversified though all sectors to maximize returns at a minimal risk. By removing an entire asset class from the endowment fund, risk is increased needlessly. If we bow down to the pressure here, I would not expect the requests to stop. One LUSU realizes that they can force changes to the endowment fund, they may attempt to push the University into other changes, potentially opening up more risk.
The Fossil Fuel Lakehead team is an extremely small vocal minority of students. It is important to note that LUSU themselves have no significant mandate, as less than 15% of students voted in the last election, let alone vote for the current administration. It is also important to note that of the faculty that have signed the letter, absolutely zero have any background in science, let alone finance or economics.
The Lakehead University board of directors should not bow down to the pressure, and ensure that the correct rational decision is made. With the current financial situation at Lakehead University, it important not to jeopardize future returns of the endowment fund.
*Editor’s note: Though I fully support varying opinions and a healthy discourse, I wanted to mention that the bigger picture here is trying to save the dying planet so that we don’t poison ourselves and our children. Not that I disagree about the economic side of things.