At the University of California Board of Regents meeting on November 13, 2024, a striking contradiction emerged regarding the institution's commitment to sustainability. A speaker highlighted the university's mission to combat global climate disruption, yet pointed out significant investments in companies like BlackRock and Blackstone, which raise questions about the integrity of that mission.
The speaker noted that the UC has invested approximately $163 million in BlackRock and $8.6 billion in Blackstone, companies associated with practices that may contradict the university's sustainability goals. This investment strategy was called into question, especially in light of recent reports detailing the environmental impact of military actions in Gaza, which reportedly generated over 281,000 tons of CO2 in just two months—more than the annual carbon footprint of many climate-vulnerable nations.
The speaker argued that these investments reflect a "blood on their hands" approach, suggesting that the university's financial decisions undermine its stated commitment to a clean and sustainable future. This pointed critique raises important questions about the alignment of the UC's financial practices with its environmental mission.
As the meeting continued, other speakers followed, but the focus on sustainability and investment ethics set a critical tone for the discussions ahead. The implications of these investments could lead to increased scrutiny of the university's financial strategies and their alignment with its public commitments to sustainability.