Don’t divest fossil fuel stocks from college endowment funds l Chicago Sun Times
Opinion, June 14, 2016
As the chairman of the education committee in Chicago’s City Council, I am intently focused on how our K-12 students continue their achievement. That’s why I’m encouraging people to leave politics out of a very important tool colleges and universities have to promote higher learning.
It’s time to divest from ExxonMobil l The Hill
June 14, 2016
At ExxonMobil’s shareholder meeting on May 25, a modest resolution requiring the oil giant to outline how climate change will affect its business model was rejected, 62 percent to 38 percent. Following the Paris climate accord last December, an unprecedented coalition of investors, including the pension funds of New York, Vermont and California, joined together to spearhead this resolution.
Washington, D.C., Announces Divestment of $6.4 Billion Pension Fund From Oil, Gas, and Coal Companies
June 6, 2016
Historic commitment launches the nation’s capital to the forefront of climate action
The District of Columbia government announced Monday that its $6.4 billion pension fund has fully divested from its direct investments in 200 of the world’s most polluting fossil fuel companies. In doing so, Washington, D.C. has taken a critical step toward addressing climate change, joining the more than 500 cities, philanthropic organizations, faith groups, universities, and other organizations that have divested funds worth a collective $3.4 trillion.
Ohio State divestment decisions handed over to Trustees l The Columbus Dispatch
by VW staff, June 1, 2016
The “Frictional Costs Of Fossil Fuel Divestment” report, authored by Prof. Bessembinder of the W.P. Carey School of Business at Arizona State University, looks at the financial impacts of divestment from fossil fuels on endowments and pension funds. Prof. Bessembinder, who also serves as managing editor of the Journal of Financial and Quantitative Analysis, looks at the costs related to executing often-complicated transactions and then actively managing an endowment to ensure it remains compliant with ever-changing definitions of what it means to actually be “fossil-free.”
UMass President Marty Meehan On Divesting From Fossil Fuels l Radio Boston
by James Murray, May 25, 2016
As the world's leading oil and gas majors this week face a series of questions about their ability to respond to escalating climate risks, two of the UK's leading universities have become the latest institutions to announce new investment strategies designed to curb their exposure to fossil fuel assets.
Newcastle University yesterday followed hot on the heels of the University of Southampton inannouncing plans to modify its investment strategy to better embed Environmental, Social and Governance (ESG) considerations.
by Michael Slezak, May 25, 2016
La Trobe has become the first university in Australia to commit to a complete divestment from fossil fuels, the university council endorsing a plan to do so over the next five years.
It is a significant win for staff and students who have campaigned for the outcome on campuses around the country.
In a statement, the university said: “The change was in response to suggestions by a group of student and staff passionate about reducing the impact of climate change and lobbied university leaders to change its investment strategy.”
contact Robert P. Connolly, May 25, 2016
BOSTON – The University of Massachusetts today became the first major public university to divest its endowment from direct holdings in fossil fuels. The decision was made by a unanimous vote of the Board of Directors of the UMass Foundation, a separate not-for-profit corporation that oversees an endowment whose value was $770 million at the end of the last fiscal year.