Tuesday, November 26, 2013
Universities, students pressure their portfolios and pension funds to eschew dirty energy
Students are pressuring their colleges (and the pension funds of universities) to invest green, and to develop portfolios that avoid fossil-fuel energy companies – big oil – according to Steven Mufson in the Washington Post, p. A10, today, Tuesday, November 26, 2013, link here.
Analysts say that oil companies would have to be held to extracting about one third of their proven reserves, which serve as assets on their financial balance sheets, to keep global warming by 2100 down to 2 degrees C or 3.8 F.
I held Exxon-Mobil for years (since 1977) and it did well for me, until my financial advisor sold it in a restructuring.My parents and relatives did well with energy and utility stocks and at least one natural gas well in Ohio. Quite literally, energy stocks provided stability for retirement and paid for eldercare.
Would similar pressures be put on companies that practice mountatintop removal?
Universities have been active in pressuring other social policy changes, such as refusing to allow military recruiters on campus during the time of “don’t ask, don’t tell”.