Georgetown University announced earlier in the spring semester that it will divest from fossil fuel companies for the next decade.
President of Georgetown University John DeGioia announced in a campus-wide email that the school will no longer invest in fossil fuels, but invest in companies that are more eco-friendly and sustainable.
Student organization Georgetown University Fossil Free (GUFF) saw its efforts come to long-awaited fruition.
“We believe full divestment will improve the social, environmental, and financial responsibility of GU’s endowment,” wrote the group in its initial divestment proposal from January 2019.
“Our endowment has for a number of years profitably invested in the development of renewable power assets and energy efficiency companies, and we are continuing to search for new opportunities,” GU Chief Financial Officer Michael Barry told Campus Reform.
“But climate change, in addition to threatening our planet, is increasing the risk of investing in oil and gas companies, as we expect a more volatile range of financial outcomes,” added Barry. “We will continue to evaluate the efforts of these companies, and be hopeful that many will move further toward contributing to a sustainable future.”
As GU climate activists were getting their wish, a group that proclaimed to consist of George Washington University students, alumni, and faculty were demanding their school follow suit.
The group “Sunrise GW” expressed its demands by marching to the home of GW President Thomas LeBlanc to deliver demands.
“Our main goal is to show LeBlanc that, while he may feel like student voices don’t have a role in the decisions made by the administration, we feel that they very much should,” student Izy Carney told the GW Hatchet.
A number of student governments and faculty councils at universities across the country have called on their schools to divest from fossil fuels.
In February, the faculty of arts and sciences, as well as the medical faculty at Harvard Universities, voted in support of the Ivy League divesting from fossil fuels, a motion that Harvard University President Lawrence Bacow said would be considered.
In September, the University of California system announced its plan to divest from the fossil fuel industry, as Campus Reform reported.
Read more at Campus Reform
Devest in Eco-Freaks and Liberal Enviromentalism
“Our endowment has for a number of years profitably invested in the development of renewable power assets and energy efficiency companies, and we are continuing to search for new opportunities,”
Not exactly…”sustainability” is tied to subsidies so THEY are continuing to search and wait for new SUBSIDISED government mandated wealth distributive investment opportunities.
In the meantime it’s all a dog and pony show with climate catastrophe hanging in the balance THEY say.
So why does ANY progressive university still have ANY fossil fuel investments? Why aren’t these progressive universities already powered with free sustainable energy? Why do they still depend upon fossil fuels for transportation and their homes? Why Why Why…
why? Because it’s all BS and it’s getting tiresome.
No more hot water for your baths or showers you fools no more travel no more leaving home you must stay in your home all day No TV No Newspapers No Books to read No Electricity No Running Water let these Back to Nature idiots get a feel of what its like
Let’s divest these morons from the hot water and electricity in their homes and universities and no more gas pump for these cretins as well. I wonder how long they would last?
The market price of the stock today is our best guess of its underlying value. To divest means that one shareholder sells their holdings to other shareholders not based on market forecasts but based on activism. If there are enough shares being sold by the activist, there will be a temporary drop in price due to sell pressure such that the average sell price received by the divester will be less than market price before divestment began but equilibrium market price will be restored when the divestment sale is over. In the net divestment transfers shares from one class of investors to another. In the current craze of fossil fuel divestment a new class of investors are foreigners, many from India and China. The use of divestment in political activism has a long history of goofiness.
Well stated Chaamjamal. The movement to divest in fossil fuels shows just how low the common sense IQ is of these people.
Shut off these stupid peoples elecricity and water lets see how lonjg these jerk can survive.And you can bet these Nit-Wits arrived and departed using Fossil Fuels