Syracuse University News
University Formalizes Commitment to Prohibit Direct Investment in Coal, Fossil Fuels
Syracuse University today announced that it is formalizing its commitment to prohibit direct investment of endowment funds in coal mining and other fossil fuel companies. The University will also continue to seek additional investments through its endowment in companies that are developing new technology related to solar energy, biofuels and advanced recycling.
This action mirrors commitments recently announced by other national universities, including Stanford University and the University of Maine.
The University’s endowment supports the University’s people, programs and facilities. Through its investment return, the endowment funds support student scholarships, faculty chairs and professorships, academic programs, and academic and student-life initiatives.
In late February, University officials met with members of Divest SU, a student-based group seeking to divest the University’s endowment from the fossil fuel industry. The meeting enabled positive conversation and information sharing and a commitment to continue dialog on the issues of divestment from fossil fuels. Read more…