Two years ago, climate activists stormed the field during a Harvard-Yale football game to protest fossil fuel investments. What has changed since then?
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Yale rolls out 5 principles for endowment on fossil-fuel investing
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Yale University s board of trustees approved a new set of five principles to guide decisions regarding potential fossil-fuel divestment in its $31.2 billion endowment.
The principles, applicable to fossil-fuel producers and companies, state that they should neither explore for, produce, or supply fossil fuels that result in high greenhouse gas emissions when there are feasible alternatives; should operate in a manner consistent with best industry practices to reduce those emissions; support sensible government regulation and industry self-regulation; support accurate climate science; and provide transparency to Yale and Yale s managers regarding all those practices.
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New principles regarding fossil fuels to guide Yale’s endowment
The Yale Board of Trustees last week approved a new set of ethical investment principles (PDF) to guide the university’s decisions concerning companies producing fossil fuels.
The five principles, recommended by an expert faculty panel appointed in October by President Peter Salovey, create new standards for the activities, behaviors, and characteristics of fossil fuel companies that would warrant divestment.
The principles establish a framework through which Yale can encourage fossil fuel producers to adopt more sustainable practices and advance the shift to a decarbonized energy future – and to call out and make ineligible for investment by Yale those companies that do not.