January 30, 2019 Read More →

Middlebury College votes to divest from fossil fuels

Burlington Free Press:

Middlebury College announced on Tuesday that it would divest its endowment from fossil fuels, responding to years of pressure by students and professors and joining the growing list of colleges and universities that have taken the step as a means of combating climate change.

Last April, the college’s student government sponsored a student-wide referendum in which almost 80 percent of respondents voted in favor of divestment. A non-binding faculty resolution on divestment passed in November with over 90 percent voting in favor.

When the matter first came before Middlebury’s Board of Trustees in 2013, the college declined to commit to divesting its endowment — which now totals over $1 billion — from fossil fuel companies.

In its announcement, Middlebury committed to stopping all new investments in fossil fuels by June 2019, and pledged to phase out all of its current investments within 15 years — a timeline that it said would protect the current value of the endowment.

Middlebury now joins over 100 other educational institutions worldwide that have committed to some form of fossil fuel divestment, according to data kept by the Fossil Free movement. Middlebury is the fourth school in Vermont to divest, after Goddard College, Sterling College and Green Mountain College.

More: After student and faculty pressure, Middlebury College will divest from fossil fuels

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