Home / Energy / University of Denver rejects a bid to divest from oil and gas
solar, University of Denver student initiative
University of Denver trustees rejected a plea from students to divest from fossil fuel investments. Photo: Pixabay.

University of Denver rejects a bid to divest from oil and gas

 

A student-led initiative to get the University of Denver to divest from fossil fuel investments in its private endowment fund has been rejected by trustees, reports the Denver Post.

Board chair Douglas Scrivener said that divesting from fossil fuels didn’t fall in line with the university’s purpose nor would it effectively help fight against global warming. The board’s answer to fighting against global warming was to pay for other “green” projects, such as solar panels and composting, instead of pulling money from fossil fuel investments.

A University of Denver article on January 24 reported that the DU board instead advocates establishing a “green fund” to investigate new efforts related to sustainability, further investing in sustainability efforts both financially and through human capital, and finding an alternative investment vehicle that allows donors “the ability to have their contributions invested in a manner that aligns with their social objectives regarding sustainability.”

Read the whole story at the Denver Post or browse the article from the University of Denver newsroom.

Updated January 25, 2017 at 2:36 pm CST.

Leave a Reply

Your email address will not be published. Required fields are marked *

*