Divestment could mean millions in annual shortfalls and billions in missed returns for both New York and Colorado’s state pension funds REPORT | NY FACT SHEET I CO FACT SHEET A new study by Prof. Daniel Fischel of the University of Chicago Law School and co-authors Christopher Fiore and Todd Kendall of economic consulting firm …
Public declarations of divestment have become a de facto litmus test for environmental stewardship, according to activists. The divestment movement has targeted universities, museums and nonprofits, some of which have given in to the pressure, most of which have not. But a new op-ed published in the Washington Examiner points out the true hypocrisy of …
It’s been clear for a while now that momentum in the divestment movement is not on the side of activists. Faced with a string of high-profile rejections, a loss of interest on college campuses and a strong resistance from most pension funds, the argument to indiscriminately sell off investments in fossil fuels has not emerged …
This week, Ireland’s lower house of parliament approved a bill that calls for the Ireland Strategic Investment Fund (ISIF) to divest of fossil fuels “as soon as practicable.” While many divestment proponents are heralding this move as a “landmark moment,” here are five things to know about what Ireland did, and more importantly DID NOT …
While activists cheered the recent decision by the Church of England to divest from fossil fuel companies, in reality the church’s vote does not call for any immediate action, nor does it commit to actually divesting any of its oil and gas holdings. The decision is another example of what we like to call “fake …
A recent op-ed published by the Grantham Foundation for the Protection of the Environment tries to claim that “fossil fuel divestment will not undercut fund performance.” As we all know, this claim is highly flawed. To support their statement, the foundation took the top 10 sectors in the S&P 500 and analyzed how the index …
UPDATE: The Presbyterian Church has once again rejected divestment. From the Pittsburgh Post Gazette: “The legislative body of the Presbyterian Church (U.S.A.) voted decisively Friday to maintain church investments in fossil-fuel corporations while aggressively advocating for reductions in actions causing climate-warming emissions. The biennial General Assembly, after lengthy debate during its meeting in St. Louis, defeated …
This week saw Swarthmore College and Cambridge University both reject fossil fuel divestment, but Salem State—a small liberal arts school in Massachusetts— gained press and activist praise this week for breaking the trend and declaring itself divested this spring. If you dig a little deeper, however, you will see that Salem State, like Syracuse University, …
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 …
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 …
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