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Smith College Votes for Plan to Divest From Fossil Fuels

Smith College Votes for Plan to Divest From Fossil Fuels

“6.4 percent of its $1.9 billion endowment is indirectly invested in fossil fuels”

It’s going to take 15 years to realize this goal, which means that the students who demanded this will be long gone.

The Press Herald reports:

Smith College votes in favor of fossil fuel divestment

A Massachusetts college has announced it will divest all its fossil fuel investments within the next 15 years.

The Daily Hampshire Gazette reports that Smith College of trustees voted in favor of divestment Friday.

The women’s college in Northampton will direct an outsourced endowment management firm to implement “an immediate phaseout of all current investments with fossil-fuel specific managers.”

According to the college’s website, 6.4 percent of its $1.9 billion endowment is indirectly invested in fossil fuels.

Emma Freedman, a student organizer with Divest Smith College, celebrated the school’s announcement but says a 15-year plan “is not rapid enough.”

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Comments

Morning Sunshine | October 21, 2019 at 10:39 am

perfect. But they are not going far enough – they are still paying money to uphold that evil industry. To be fully committed, let them also refuse to spend money on the energy that comes from electrical plants using such fuels. Also, all school vehicles need to be fully electric.

Haha, well let them walk the walk and divest of heat for the coming winter. Maybe they can burn some tires in a trash can to take the edge of the cold.

Yeah, Solar Panels. That’ll make those young women all toasty warm in the winter.

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