Tags: Stanford | University | Investing | Coal

Stanford University Stops Investing in Coal Companies

Tuesday, 06 May 2014 06:16 PM

Stanford University said it will stop investing in coal companies in response to a student-led campaign aimed at curbing climate change.

The university’s board of trustees voted today to no longer make direct investments in publicly traded companies that mine coal for energy generation. The vote followed the recommendation of a panel including students, faculty, staff and alumni that has been studying the impact of fossil-fuel companies for several months, Stanford said.

“Moving away from coal in the investment context is a small but constructive step while work continues at Stanford and elsewhere to develop broadly viable sustainable energy solutions for the future,” John Hennessy, Stanford’s president, said in a statement.

Stanford has one of the world’s largest university endowments, valued at $18.7 billion as of Aug. 31. It won’t disclose the value of its existing investments in coal, which will be sold, said Lisa Lapin, a spokeswoman for the university, which is located near Palo Alto, California.

A student-led group had asked Stanford to divest from 200 of the largest fossil-fuel companies, which led to the decision to sell investments in coal, Lapin said. The university will continue to invest in oil and gas companies, she said.

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Stanford University said it will stop investing in coal companies in response to a student-led campaign aimed at curbing climate change.
Stanford, University, Investing, Coal
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2014-16-06
Tuesday, 06 May 2014 06:16 PM
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