Stanford (University) to divest from coal companies

[Newsjock]

Source: Palo Alto Weekly

Stanford University today became the nation's first large university to decide it will divest its endowment holdings in publicly traded companies whose principal business is the mining of coal for energy generation.

The resolution by the Stanford Board of Trustees followed a recommendation from the university's Advisory Panel on Investment Responsibility and Licensing, which spent several months reviewing the social and environmental implications of investment in fossil fuel companies.

"The university's review has concluded that coal is one of the most carbon-intensive methods of energy generation and that other sources can be readily substituted for it," Stanford President John Hennessy said in a statement issued by the university.

"Moving away from coal in the investment context is a small but constructive step while work continues, at Stanford and elsewhere, to develop broadly viable sustainable energy solutions for the future."


Read more: http://paloaltoonline.com/news/2014/05/06/stanford-to-divest-investments-in-coal-extraction-firms

[Submariner]

1. They should divest themselves from Condi Rice too and become respectable again

why they stain their reputation employing that piece of crap is baffling.

[freshwest]

2. Sadly surprised that a university famous for science didn't disinvest from that years ago... n/t

http://grad-schools.usnews.rankingsandreviews.com/best-graduate-schools/top-science-schools/stanford-university-243744

Knew that and figured most here would also, but thought some peeps might want a link.

[Lodestar]

3. A 'small' step that could become 'big' if the example is followed by other institutions

And possibly this decision is not as altruistic as it seems....perhaps research is close to an alternative energy to take
coals place??? I can dream.