To Fight Climate Change, College Students Take Aim at the Endowment Portfolio

NYT-Do-the-Math

350-org-math

http://www.nytimes.com/2012/12/05/business/energy-environment/to-fight-climate-change-college-students-take-aim-at-the-endowment-portfolio.html?hp&_r=0&pagewanted=all

By JUSTIN GILLIS
Published: December 4, 2012

SWARTHMORE, Pa. — A group of Swarthmore College students is asking the school administration to take a seemingly simple step to combat pollution and climate change: sell off the endowment’s holdings in large fossil fuel companies. For months, they have been getting a simple answer: no.

Stephen Maturen for The New York Times

Bill McKibben, a writer turned advocate for carbon reduction, is on a national tour to build support for the divestment campaign.

Associated Press

Demonstrators in 1978, protesting Harvard’s refusal to divest itself of stocks owned in companies operating in South Africa.

As they consider how to ratchet up their campaign, the students suddenly find themselves at the vanguard of a national movement.

In recent weeks, college students on dozens of campuses have demanded that university endowment funds rid themselves of coal, oil and gas stocks. The students see it as a tactic that could force climate change, barely discussed in the presidential campaign, back onto the national political agenda.

“We’ve reached this point of intense urgency that we need to act on climate change now, but the situation is bleaker than it’s ever been from a political perspective,” said William Lawrence, a Swarthmore senior from East Lansing, Mich.

Students who have signed on see it as a conscious imitation of the successful effort in the 1980s to pressure colleges and other institutions to divest themselves of the stocks of companies doing business in South Africa under apartheid.

A small institution in Maine, Unity College, has already voted to get out of fossil fuels. Another, Hampshire College in Massachusetts, has adopted a broad investment policy that is ridding its portfolio of fossil fuel stocks.

“In the near future, the political tide will turn and the public will demand action on climate change,” Stephen Mulkey, the Unity College president, wrote in a letter to other college administrators. “Our students are already demanding action, and we must not ignore them.”              ….(more).

Harvard Crimson
Global Climate Change http://courses.dce.harvard.edu/~envre130
Environmental Justice http://courses.dce.harvard.edu/~envre145
Environment Ethics http://courses.dce.harvard.edu/~envre120

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