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The Western Washington University Foundation Governing Board of Directors on Sept. 16 decided not to change its investment policy regarding divestiture from investments in fossil fuel companies.

The Foundation Governing Board’s decision was in response to a request by the Western student government.

The Foundation Governing Board did commit to create a climate-friendly investment fund in their portfolio as an option for donors. The Foundation seeks private sources to support Western student scholarships, research and faculty. Its endowment consists of a number of comingled funds which invest in thousands of companies, including some within the fossil fuels industry.

Dan Guy, president of the �������� Foundation Governing Board, provided a memo to Annika Wolters, president of the �������� Associated Students (AS), which outlined the review process and a recommendation from the board’s Divestment Study Committee for a decision on the request from the AS. The recommendation was voted on and approved at the board’s Sept. 16 meeting. .

In the memo, the Divestment Study Committee noted that climate change is “indisputably one of the most critical challenges of our time” and acknowledged Western students for stimulating discussion. “Their request to us spurred a thoughtful and thorough approach and analysis. We listened to students and campus colleagues, explored the national discussion, spoke with our peers across the country, and researched investment alternatives. From this work we reached a considered recommendation: our investment policy should remain unchanged.”

The AS Board on May 16 had asked the �������� Foundation Governing Board to commit to a specific fossil fuel divestment plan with three elements: (1) freeze future investments in fossil fuels, (2) divest from current investments in 200 specific companies within five years and (3) incorporate divestment from fossil fuels into the investment policy.

Western President Bruce Shepard, , expressed his support for the Foundation position. “Basically they decided to ‘stay in their lane.’”  Addressing the university community, he went on to say, "Do understand this, though: by ‘staying in their lane,’ the Foundation has placed an enormous responsibility with us, the students, faculty, staff, administration, alumni, and donors who are Western Washington University.  That is exactly where it belongs."

Noting the long history of commitment to sustainability at Western, President Shepard did challenge the campus, saying "But, that proud past is prologue. For the rapidly escalating threats of climate change demand that we double and double again our efforts to live our mission, to make substantive differences, to be substantively different."

The Foundation Study Committee memo made additional recommendations, including that the Foundation Governing Board Finance and Audit Committee “work to create a climate-friendly investment fund in our portfolio as an option for donors. And, to lower associated fees with this fund, we further recommend that the �������� Foundation Governing Board members and staff will lead discussions of climate friendly portfolio development with other foundations of our size and type.”

The memo also noted that divestment would be ineffective and inconsistent with Foundation fiduciary values. And the financial impact of divestment, including associated investment fees, would mean the loss of support for scholarship programs.

 exists to generate private support for the benefit of Western Washington University. It is independent of the university and its Board is comprised of alumni, donors and community members who are personally dedicated to the advancement of Western.  is both the association of all �������� students and the official student governing body.