Okay, so no more excuses about how kooky it is to think divestment from fossil fuels could really happen on a large scale.
Fossil Free Stanford Statement on Coal Divestment
Today, the climate movement won a groundbreaking victory. In a striking acknowledgement of the need for a bold and immediate response to climate change, Stanford University is divesting from the coal industry.The Stanford endowment, valued at $18.7 billion, will now become the largest in a growing group of funds to partially divest from fossil fuels.
Thanks to continued pressure from students who formed Fossil Free Stanford in November 2012, going door to door petitioning, making their case in classes, dining halls, and residences getting 78% of student participants in a recent undergraduate referendum to vote in support of divesting from fossil fuels, Stanford's Board of Trustees followed their bold lead. They said as much in their statement.
Stanford’s statement announcing the move credits students with providing the impetus for divestment, stating that “Fossil Free Stanford catalyzed an important discussion” and thanking students for their “thoughtful work” on the issue. Stanford’s decision is a clear testament to the power of the student movement for divestment and the broader movement to combat climate change.
