Despite the fact that millions of Americans are facing unprecedented economic challenges, it appears that some remain laser-focused on advancing their divestment agenda heading into the new year. That “some” would be New York City Comptroller Scott Stringer and Mayor Bill de Blasio, who, in 2018 set an ambitious 5-year goal to divest the city’s …
Over the last year we saw a flurry of divestment activity that is indicating where the movement is headed. From coast to coast, many colleges remained opposed to taking on activists’ calls for divestment. Some, however, did not. Here’s a review of the major divestment themes we saw in the crazy year that was 2020, …
The Cato Institute recently asked a couple of hard-hitting questions about the integrity of some recent divestment-related announcements. One area of focus was put upon the announcement out of New York State who adopted a decarbonization policy for its public pension last month. While some were quick to champion the move as a win for …
On the last day of 2020, Creighton University – a small Jesuit school in Nebraska – announced a reversal of its divestment policy and plans to phase out fossil fuel investments from its $587 million endowment. This would not be the first time a university has made a gesture like this. However, it is important …
Today, New York’s Comptroller Thomas DiNapoli announced a pledge to have the state’s pension fund reach net-zero emissions across its investments by 2040. This announcement, unlike how some divestment supporters and media have already framed it to be, is not a commitment to fully divest from fossil fuel holdings. Let’s say that again: The New …
It’s no surprise financial experts are sounding the call on the inefficiency of fossil fuel divestment. With the COVID-19 pandemic not fully behind us yet, the new shift towards focusing on economic recovery has financial experts saying divestment isn’t the smartest option. Recently this month, experts and business professionals have issued multiple statements asserting that …
New Jersey has become a recent hotbed of divestment activity, with activists now targeting several school endowments as well as the state pension. But while environmental groups are trying to ramp up the pressure, statements by those overseeing these institutions seem to suggest the movement isn’t going very far. Let’s start with Princeton. Princeton University’s …
Cambridge University announced last week that it would divest after years of resisting such a policy. The university said it will drop coal and oil and gas investments over the next decade while making “significant” investments in renewable energy by 2025. The decision walks back on previous divestment rejections Cambridge University had in response to divestment—not too …
Moody’s, one of the world’s most respected credit rating agencies, recently called divestment “not a significant factor” for oil and gas companies, despite many claims to the contrary by its proponents. The agency recently commented on the limited impact of divestment in its Investors Service report, drawing a stark contrast with climate activists’ claims that …
For years, divestment activists on Ivy League campuses wrote proposals and letters, held demonstrations and sit-ins, and yet have made little-to-no progress on convincing universities to eliminate fossil fuel investments. So, for the new decade, divestment activists developed a new strategy: change the make-up of these administrations from the inside out. Recently, pro-divestment groups like …
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