The new Arabella Advisors divestment report is out, and unsurprisingly they claim yet another trillion dollars has been divested since their last report was released in 2016. We already previewed the announcement here. But now that the new number is official, here is what you need to know about this divestment stunt. Claim: “Today, nearly …
This week, another expert on the high costs and ineffectiveness of divestment Todd Kendall, an Executive Vice President atf Compass Lexecon, highlights just why divestment is a dangerous proposition for struggling pension funds around the country and the taxpayers who pay into them. This week’s stopover included a sit down with The Capitol Pressroom of …
If you wanted to get a sense of how the divestment movement has performed over the past year, look no further than June 2018. In one day, University of Cambridge, one of the most prestigious colleges in the world, and Swarthmore College, the campus on which the divestment movement began back in 2011, both rejected …
With the divestment movement suffering a long and embarrassing string of failures on university campuses and in cities and states across the country, financial institutions are now facing increased pressure from activists to divest and take Environmental, Social and Governance (ESG) factors into consideration. Recently, Bank of the West succumbed to the pressure and announced …
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 …
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 …
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 …
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, …
While New York City Mayor Bill de Blasio continues to recklessly push for divestment of New York City’s public pension funds, the Chief Investment Officer of the New York City Retirement System (NYCRS) is throwing cold water on the idea. Yesterday, during a Pension Bridge Conference panel discussion, Scott Evans, New York City deputy comptroller …
A new op-ed in The Hill details the many reasons why pension funds and universities have been — and should continue to— steer clear of a fossil fuel divestment policy. Signed by Jeff Eshelman of the Independent Petroleum Association of America, the piece not only highlights how fossil fuel divestment conflicts with a manager’s fiduciary …
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