Just a few days after Chittenden County Sen. Tim Ashe (again) called for another look at divesting the Vermont State pension system of its fossil fuel stocks, UVM student activists (again) are demanding UVM trustees divest fossil fuel stocks from the investment portfolio. What if having less money in the endowment fund means a tuition hike?
"UVM trustees have been asked before by students and climate activists to consider divestment, and each time declined. Trustees considered and rejected a request to divest in 2013, and again in 2016, when campus activists had narrowed their ask to just divesting from coal. Trustees said at the time that while the schools didn’t currently have any holdings in coal companies, it would be financially imprudent to remove commingled funds from the university’s portfolio.
In response to calls for divestment, UVM has frequently touted its on-campus green initiatives. A spokesperson for the university on Wednesday forwarded a reporter a copy of an article, written by Richard Cate, UVM’s vice president for finance and treasurer, titled “Divestment not our only option.” The piece, published in the student paper, noted the school’s investments in green building, sustainability programming, and carbon-neutral electricity."
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