Today, the Board of Managers announced the creation of a fossil-free fund within the endowment. This shows a gradual transition to fossil-free investing is possible and practical for the Swarthmore endowment, as we proposed to the Board last spring in our five-year, cost-free divestment plan.
The Board can’t have it both ways. For years, they have told us fossil-free investing wasn’t feasible. Now, they’ve proven it is and that there is nothing stopping them for divesting our entire endowment and revoking our political support from the rouge industry.
Following this first step, we look forward to working with them to divest the entire endowment from fossil fuels.