Originally published at: Princeton is the latest Ivy to divest from fossil fuels | Boing Boing
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Way too little, way too late. All schools that didn’t divest from fossil fuels 20 years ago should be ashamed.
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I find this to be a bit of window dressing. These strategies are made to sound like the entire institution is suddenly carbon neutral. Princeton have divested in the producers but not in the consumers. I don’t know if the portfolio is public somewhere, but I expect it will still include big utility companies. Certainly transport/shipping and retail companies with massive carbon fueled fleets.
The decision may be more easily timed than when they should have done this a couple of decades ago. The fund is significantly up in 2021 vs. 2020 - the greatest gains possibly in the history of the fund (I went back to 1999-2000). (A brilliant manager of this same fund foresaw the stock crash of 1929 and effectively stuffed the money into a mattress before it happened). The current bump was not a bounceback from the prior year(s) BTW. Of course it has likely slipped in 2022, but still:
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