Yale Set To Divest From Certain Fossil Fuel Companies
Yale University is setting up new guidelines for its investments — and the institution said it will divest in fossil fuel companies who don’t act responsibly.
Yale said the companies it invests in will have to avoid practices that lead to high greenhouse gas emissions, and they have to support what Yale considers meaningful action on climate change.
This comes after a years-long, student-led campaign to encourage divestment. Ben Grobman is a Yale student activist.
“For the first time, Yale has acknowledged that the primary responsibility for reducing greenhouse gas emissions falls on fossil fuel companies. Although this is a huge shift, no money has yet been moved and our work is just beginning,” Grobman said.
Yale said about 2.6% of its endowment is invested in fossil fuel producers. The university said it expects to make its first set of recommendations for investment — or divestment — in June.