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June 15, 2018

Says Divestment Would Put Endowment’s Performance “At Risk” In what’s become an almost annual event, Swarthmore College (for the fourth time!) announced it would not divest its endowment from fossil fuels. The announcement came following passage of a non-binding referendum, spearheaded by a climate activism student group, that called for the school to divest and …

June 15, 2018

This weekend in St. Louis, the Presbyterian Church will begin its biennial conference, known as the General Assembly. Every two years, commissioners from presbyteries (an administrative body that represents a group of congregations) from around the nation gather to worship together, discuss business matters, and plan for the future of the church. And as in …

June 15, 2018

UPDATE (6/15/18, 11:00 am EST): In a blow to the divestment campaign, Cambridge University has officially rejected fossil fuel divestment “because it needs the yield to finance its academic program.” First reported in the Financial Times last week, this morning the University Council at Cambridge released its full announcement. From Cambridge: “The financial sustainability of the …

June 14, 2018

This week, Divestment Facts responded to the New York City Comptroller’s Request for Information (RFI), from which his office hopes to gather insight into how the city can divest $5 billion in fossil fuel assets during a five-year period in a manner “consistent with fiduciary duty.” Our response, which highlights the findings of numerous professors …

June 8, 2018

Today, Pope Francis’ will hold a meeting with investment and energy executives to discuss climate change and engagement opportunities.  While this meeting is largely focused on engagement, it is not surprising that some pro-divestment activists have used the meeting as an opportunity to tout their campaign and call for broader action.  Let’s take a look …

June 4, 2018

Last week The Wall Street Journal ran an expertly-written opinion piece laying out the many reasons why fossil fuel divestment is a waste of time.  It’s author, Paul H. Tice, is an investment management professional and an adjunct professor of finance at New York University (NYU), a school that rejected fossil fuel divestment in 2016, …

June 1, 2018

This week, just two short years after the University of Massachusetts (UMass) held itself up as “the first major public university to divest its endowment of fossil fuels,” its own Political Economy Research Institute (PERI) released a report concluding that divestment is all but useless.  Written by a Robert Pollen, a distinguished professor of economics …

May 24, 2018

This week, Rolling Stone published Bill McKibben’s latest attempt to publicize his troubled fossil fuel divestment campaign.  However, anyone with even an inkling of what the divestment movement entails –and its serious limitations– probably couldn’t even make it half-way through.  From failing to understand the legal obligations of city and state comptrollers, grossly inflating the …

May 21, 2018

The Heartland Institute and Bloomberg recently reported that the managers of Harvard’s endowment lost a whopping $1 billion by prioritizing “feel good” investments over ones that consistently generate solid returns.  These losses, along with the stunning $8.5 billion losses that CalPERS faced after pursuing a divestment strategy, fly in the face of activist claims that …

May 18, 2018

Despite public pledges from environmental groups and universities to combat climate change and divest from fossil fuels, many of these institutions are secretly investing in and benefitting from overseas funds that support oil and gas projects.  That’s the conclusion of a recent, in-depth investigation by NBC News into the “Paradise Papers,” documents leaked in late …

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