Divestment Campaign Leads to $50 M Green Investment at Middlebury

 

There is movement around responsible investment at Middlebury College. In direct response to pressure from students calling on the university to divest it's endowment of the 200 largest fossil fuel companies, Middlebury is making significant investments in ESG funds.

In an email this Monday April 7th, President Ron Liebowitz wrote, “[The College] recently increased by a significant factor the amount of its endowment specifically directed towards investments that generate long-term social, environmental, and economic value. This includes investments focused on sustainable businesses such as clean energy, water, climate science, and green building projects. The value of these specifically directed investments is $25 million as of February 28, 2014.” Patrick Norton, the VP of Finance at Middlebury, stated that this number will rise to $50 million within five years.

Greta Neubauer, a member of Divest Middlebury, shared, “This, combined with other news from around the country this week, feels like a different kind of momentum than last year. It is a rolling movement forward, like falling dominoes.” The Middlebury organizers will continue to call for divestment and are excited to see the campus taking tangible steps in that direction.

Additionally, Middlebury is giving $150,000 to the student-run Socially Responsible Investment Club, putting real decision making power into the hands of students!

Virginia Wiltshire-Gordon, a core member of the Socially Responsible Investment Club, was hopeful following this announcement, saying, “I do not believe this would have happened without the Middlebury fossil fuel divestment campaign.” 

This announcement is a catalyst for student organizers who will be redoubling their efforts to get Middlebury to commit to full divestment. 

 

 

Keep in touch

Sign up to receive our updates and get access to all features of this website. Sign in with:

Latest from the blog

Sep 01, 2016
Subscribe to REC's quarterly newsletter today! We are thrilled to share updates on a number of exciting events, projects, and campaigns at REC!   This past summer, REC was able to launch its International Solidarity Program (ISP) to the Philippines with fossil fuel divestment organizers from across the country. Join...
Aug 31, 2016
  Notes on the Recent Department of Justice Decision To Move Not Renew Private Prison Contracts Photo:  (Reuters/Lucy Nicholson) The Department of Justice announced on August 18 that it will begin transitioning away from federally contracted private prisons, essentially transitioning around 22,000 individuals currently caged in 13 for-profit facilities to...
Aug 29, 2016
Are you searching for a profession that aligns your personal values with your desire for a career in finance?   Do you feel you need help identifying what roles exist in the impact investing industry and how to get your foot in the door? We are happy to share that our partners from The SRI Conference on Sustainable, Responsible, Impact Investing are...

Sponsors

Partners

Partners

Partners