In Another Divestment Victory, Syracuse University Goes Fossil Free

[Judi Lynn]

Published on Tuesday, March 31, 2015
by Common Dreams

In Another Divestment Victory, Syracuse University Goes Fossil Free

Announcement declares: 'Syracuse will not directly invest in publicly traded companies whose primary business is extraction of fossil fuels.'

by Deirdre Fulton, staff writer

Joining a rapidly expanding international network of institutions seeking to de-fund the industries driving global warming, Syracuse University on Tuesday announced it would divest its $1.8 billion endowment from coal mining and fossil fuel companies.

In a press release, the private research university based in central New York explained: "This commitment means that Syracuse will not directly invest in publicly traded companies whose primary business is extraction of fossil fuels. The university will also direct its external investment managers to take every step possible to prohibit investments in these public companies as well."

In addition, the university said it would "continue to seek additional investments through its endowment in companies that are developing new technology related to solar energy, biofuels, and advanced recycling."

Chancellor Kent Syverud added: "Syracuse has a long record of supporting responsible environmental stewardship and good corporate citizenship, and we want to continue that record. Formalizing our commitment to not invest directly in fossil fuels is one more way we do that."

More:
http://www.commondreams.org/news/2015/03/31/another-divestment-victory-syracuse-university-goes-fossil-free

[tularetom]

1. I thought maybe they were getting rid of some of the faculty dead wood