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Fossil fuel investments account for about 5% of the university s $1.6 billion endowment, the university said. Sixty percent of those investments are in private funds, and the remainder are in public equity or fixed income accounts.
The university s Board of Governors and Board of Trustees has voted to approve the change. It was spurred by a committee of students, faculty and staff who considered the request from student group Endowment Justice Collective
Rutgers is among the most recent U.S. universities to ditch its less environmentally friendly investments. Schools like Cornell University, the University of Michigan, Brown University and Georgetown University made the switch.
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“This decision aligns with Rutgers’ mission to advance public health and social justice.”
Image Credit: depthandtime/flickr/cc
Rutgers University announced a commitment to fossil fuel divestment after the university’s Board of Governors and Board of Trustees approval. The University is the latest U.S. academic institute to make the transition.
According to a press release, the “decision follows the recommendation of an ad hoc committee of faculty, students and staff formed to consider a fossil fuel divestment request from a student group, the Endowment Justice Collective.”
“This decision aligns with Rutgers’ mission to advance public health and social justice,” Jonathan Holloway, president of Rutgers University, said. “While the university has taken steps recently to limit investments in this area, approving a policy of divestment from fossil fuels is a significant expression of the values of our institution and our broader