The Yale Corporation’s Committee on Investor Responsibility (CCIR) has not recommended that the Ivy League school divests from fossil fuels, despite pressure from students. Instead shareholder proxy voting guidelines on climate change will be adopted.
A survey conducted last year found that 83% of students at Yale University would like the school to free its endowment from fossil fuel investment, with over half of the undergraduate population taking part.
After the referendum was set up an anti-divestment group called on people to stop using the institution’s endowment politically.
President of the committee, Peter Salovey commented, “Global climate change and its consequences are critical challenge of our time, and Yale has important and necessary roles to play in addressing them.”
A statement from CCIR states that the organisation agrees that climate change is a “grave threat” to human welfare. However, it adds that it believes divesting from fossil fuels is not the most effective way to address the threat.
Salovey continued that whilst the committee would not endorse divestment from fossil fuels, Yale’s chief investment officer will write to external investment managers to say they should, as a matter of sound business, take into the effects of climate change on the businesses, including anticipating future regulation.
A growing number of educational institutions are divesting from fossil fuels and reviewing their investment policies. In the UK the University of Glasgow and London University’s School of Oriental and African Studies have agreed to review the matter.
Photo: Adam Jones via Flickr
Like our Facebook Page
How to Find an Eco-Friendly Termite Control Service Provider in Malaysia
Eco-Friendly Vegans Win Most Battles Not the War
3 Iconic Chicago Billboards Eco-Friendly Advertisers Can Learn from
EnviroSolar’s Abe Issa Discusses Success in Green Entrepreneurship
How Sports Could Be Impacted by Climate Change
What Eco-Friendly Patients Should Know about Online Therapy
6 Reasons Why Meal Delivery Services are Eco-Friendly
The Path for Retail’s Sustainable Future
4 Eco-Friendly Ways to Treat a Sinus Infection
4 Strategies for Eco-Friendly Real Estate Investors to Find Properties
How Managed Print Services Helps to Reduce Paper Waste
Why Scientists Are Concerned About ‘Forever Chemicals’ In Drinking Water
Meat Farming Is Only Getting Smarter, Easier & Eco-Friendlier
What is Eco-Friendly Homesteading and How Does it Affect Your Insurance?
Importance of Using a Water Purifier in an Area with High Pollution
Alternative Financing Ideas for Green Businesses that Shun Banks
Tencel Material Demand Shows Britain Is More Eco-Friendlier Than Ireland
How To Invest in Clean Energy Stocks in Only Five Easy Steps!
How To Secure Funding As An Eco-Entrepreneur?
4 Amazing Eco-Friendly Businesses Worth Starting in 2021
- Features8 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy9 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features8 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Invest10 months ago
The Eco-Friendly Evolution of Bitcoin Over the Years