Divestment activists pushing endowments and other funds to give up their holdings in fossil fuel companies are using the current oil price as justification that fossil fuel stocks are a bad investment. But a quick look at the facts tells a much different story. In reality, oil prices, like all other commodities, are cyclical and …
In recent months, the divestment campaign in New York has faced a string crushing blows as CUNY, Columbia, Cornell, and now Vassar becomes the latest university in the state to openly reject divestment — and not for the first time either. In an in-depth op-ed in the school’s paper, Vassar President Catherine Hill reiterated why …
Two bills currently pending in the Hawaii State Legislature, Senate Bill 2155 and House Bill 1511, would, if passed, force the state’s Employees’ Retirement System (ERS) to divest all of its fossil fuel holdings over the next five years. Divestment, especially at this pace, is sure to negatively impact the system’s investment portfolio and the …
Today the University of British Columbia became the second leading university this year to reject fossil fuel divestment. Cornell rejected divestment last month. The UBC decision follows a vote by the school’s Finance Committee that recommended the University retain its fossil fuel investments. The Board of Governors has instead decided to allocate $10 million to a …
Vermont’s Gov. Peter Shumlin continues to urge state pensions to divest. Central to Gov. Shumlin’s argument is a claim he made in an Op-Ed following his State of the State speech which said, in part: “In fact, had Vermont divested from coal assets in September 2012, our state pension funds would have an extra $11.5 …
Yesterday, Prof. Brad Cornell sat down with WDEV’s Common Sense Radio in Vermont to talk about Gov. Shumlin’s push for divestment. Many of Vermont’s pensions have already spoken out against the plan in fairly strong language. As an economics professor at Caltech, Prof. Cornell explained in plain terms how divesting can hurt a portfolio’s performance …
Vermont Governor Peter Shumlin (D) is leading the push for state pensions to divest from fossil fuels, but voices across the state—from Vermont’s State Treasurer to state pension fund organizations—are warning that fossil fuel divestment proves to be a money-losing strategy with no climate upside. In fact, Gov. Shumlin’s proposal could put millions at stake …
In his most recent “State of the State” speech, Vermont Governor Peter Shumlin called for the state’s pension funds to divest from coal and certain fossil fuel companies. It seems he made these proclamations before talking to just about anyone responsible for these pension investments, because they are all now pushing back in a big …
Over the past two years California has again found itself at the center of a nation-wide hot button question; whether schools and other institutions should divest from fossil fuels. As our new infographic, Divestment in California: What you need to know, makes clear, the opposition to that effort has been sizeable. Financiers, asset managers, think-tanks …
On Monday, California’s Insurance Commissioner Dave Jones requested that insurance companies in the state divest from thermal coal. Although he has been applauded as “the first state insurance regulator in the United States to call on insurance companies to divest,” Jones’ request is laden with problems. For starters, leading economists, academics and portfolio managers …
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