Rutgers University to Divest from Fossil Fuels

Rutgers University is divesting from fossil fuel investments. This comes after a recommendation from a committee of faculty, students and staff to address student group Endowment Justice Collective’s divestment request.

Rutgers University E1615391700334This move will mean that Rutgers will stop any new fossil fuel investments, divest from passive index funds with fossil fuel investments in a year, reinvest in more environmentally friendly alternatives, look to invest in renewable energy and leave all currently held private fossil fuel investments in 10 years.

About 5% of Rutgers’s $1.6 billon endowment consists of fossil fuel investments, with 60% of these investments in private funds and the remainder in public equity or fixed income accounts.

“The committee carefully considered the concerns of Rutgers community members along with the ethical and fiduciary responsibilities of the investment committee and the boards as we unanimously reached our recommendations,” said Brian Ballentine, chair of the ad hoc committee and Rutgers senior vice president for strategy.