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Stipulated Facts from the Socially Responsible Investing Debate
In preparation for the debate on socially responsible Investing, the two teams agreed prior to the debate that the following statements would be accepted as factual and not subject to debate.
For purposes of this debate, the participants acknowledge the following:
- Climate change is occurring.
- Making investing decisions based primarily on social or environmental values limits investment options.
- In July, 2015, the 78th General Convention of the Episcopal Church passed resolution C045 Environmentally Responsible Investing in which it called upon “the Investment Committee of the Executive Council, the Episcopal Church Endowment Fund, and the Episcopal Church Foundation to divest from fossil fuel companies and reinvest in clean renewable energy in a fiscally responsible manner” and “urge[d] all dioceses and parishes of the Episcopal Church to engage the topic of divestment from fossil fuels and reinvestment in clean energy within the coming year.”
- Sewanee is the only university in the nation that is owned and governed by dioceses of the Episcopal Church, specifically the 28 dioceses of the southeastern United States.
- The University endowment is approximately $375M and its earnings amount to approximately $19M which helps fund the annual operating budget. The annual operating budget is approximately $110M.