The Rapidly-Growing Student-Led Divestment Movement

#Money

Sat, May 10th, 2014 11:00 by capnasty NEWS

Following the university's internal guidelines which prohibit it from engaging in "substantial social injury," Stanford University has disinvested "its $18.7 billion endowment of stock in coal-mining companies, becoming the first major university to lend support to a nationwide campaign to purge endowments and pension funds of fossil fuel investments." This part is particularly telling:

The trustees' decision carries more symbolic than financial weight, but it is a major victory for a rapidly growing student-led divestment movement that is now active at roughly 300 universities.

At least 11 small universities have elected to remove fossil-fuel stocks from their endowments, but none approaches Stanford's prestige or national influence. Tuesday's decision seems likely to increase the pressure on other major universities to follow suit.

Among other universities, Harvard has resisted student pressure for divestment, and one student was arrested on Thursday after pro-divestment activists blockaded the entrance to the school's administrative offices.

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