Princeton to divest from 90 fossil fuel companies

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Princeton University announced Thursday that it will cut ties with 90 fossil fuel companies, including Exxon Mobil, NRG, and Suncor, as it seeks to deliver on its commitment to achieving a net-zero emissions endowment portfolio.

Princeton said in a statement that its board of trustees had voted earlier this month to disassociate from the fossil fuel companies, which it said are “all active in the thermal coal or tar sands segments of the fossil fuel industry, which are among the sector’s largest contributors to carbon emissions.”

In addition, Princeton said its university endowment, the fourth-largest in the United States, “will also eliminate all holdings in publicly traded fossil-fuel companies.”To make up for the lost revenue, the university said it will establish a new fund to support energy research, in part to offset research funding it said is “no longer available because of dissociation.”

 

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Sounds like some shares will be opening up. Thanks Princeton.

Are endowments taxed?

It would be more impactful if Princeton just stopped using products made with fossil fuels. Show your commitment, Princeton.

Maybe Princeton should invest it in Trump steaks or Trump casinos or Trump University or Truth Social or.... oh never mind.

For those that don’t know what ESG is or what it can do to destroy the future of America, I give you Princeton University,

Google it. Princeton has a $37.7 billion endowment fund. How about legislation compelling the college to plow it back into a tuition reduction for students? The talent they are cultivating IS the point, right? Side benefilt? REDUCED COLLEGE TUITION DEBT!

It would be hilarious if the electric company quit powering them

There is so much stupid these days.

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 /  🏆 6. in TH

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