Stanford Will Divest From Coal-Mining Companies

The Slatest
Your News Companion by Ben Mathis-Lilley
May 7 2014 1:27 PM

Stanford Becomes First Major University to Divest From Coal-Mining Companies

93900210
A shot from Stanford's campus.

Chip Chipman/Bloomberg via Getty Images

Stanford’s endowment will drop all investments in companies that mine coal, it announced yesterday, making it the first major university to do so. From the New York Times:

The university said it acted in accordance with internal guidelines that allow its trustees to consider whether “corporate policies or practices create substantial social injury” when choosing investments. Coal’s status as a major source of carbon pollution linked to climate change persuaded the trustees to remove companies “whose principal business is coal” from their investment portfolio, the university said.
Stanford’s associate vice president for communications, Lisa Lapin, said the decision covers about 100 companies worldwide that derive the majority of their revenue from coal extraction. Not all of those companies are in the university’s investment portfolio, whose structure is private, she said. Over all, the university’s coal holdings are a small fraction of its endowment.
Advertisement

The university will divest from both individual coal-company holdings and mutual funds that invest in said companies.
 

Ben Mathis-Lilley edits the Slatest. Follow @Slatest on Twitter.

  Slate Plus
Working
Nov. 27 2014 12:31 PM Slate’s Working Podcast: Episode 11 Transcript Read what David Plotz asked a helicopter paramedic about his workday.