With campuses around the world:

Stanford University announced Tuesday that it would divest 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.

The university said it acted in accordance with internal guidelines that allow its trustees to consider whether “corporate policies or practices create substantial social injury” when choosing investments. Coal’s status as a major source of carbon pollution linked to climate change persuaded the trustees to remove companies “whose principal business is coal” from their investment portfolio, the university said. …

As a global institution, Stanford “knows the havoc that climate change creates around our planet,” Bill McKibben, the president and co-founder of the environmental group 350.org, said in a statement. “Other forward-looking and internationally minded institutions will follow, I’m sure.”

via www.nytimes.com

As a most prestigious institution of higher education with the ability to rapidly differentiate climate-change induced apocolypse from simple bad weather, Stanford knows. Stanford just knows.

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  1. PaulS Avatar

    The stock market is so huge that I’d expect their divestment of a probably tiny fraction of that clickbait $18.7 billion endowment total to pass unnoticed.
    But since Superior Knowledge demands Doing Something about Carbon Footprint, and since Doing Something without regard to effectiveness is sort of a USA secular-religious tenet, I offer a modest proposal for all concerned:
    Cancel Spring Break from the campus schedule – get rid of it once and for all. It very strongly encourages gratuitous, purposeless, fuel-guzzling travel. Indeed, many colleges close their dorms for the week, actively requiring such travel by residents.
    As a nice bonus – and unlike divestiture, which has no effect on ultimate-consumer behavior – eliminating Spring Break might even leave some carbon unburned. Most likely, not all of the travel would be shifted to another time; some would be foregone. After all, who in their right mind really would bother to jet off to Florida in June or July, when exiting the airport is like stepping out into a double-boiler?
    As an added bonus, we’d find out whether the loud-mouthed “activists” – professors and students alike – would get on board with a change that affected their own behavior. I think the real agenda with this stuff is usually that no sacrifice to the Carbon God is too great for somebody else to make.
    That is, they’d scream and moan about such a calendar change. That would make obvious what one can already suspect, namely that their “campaigning” is little more than vacuous juvenile-grade pseudo-anti-corporate pseudo-Marxist twaddle of the sort that is so very fashionable on so many college campuses these days.

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