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A new paper sponsored by several divestment advocacy groups and written by the Tellus Institute, a think tank that works on issues of sustainability, attempts to chart a course for institutions to follow in order to divest fossil fuel holdings from their endowments and overcome administrators' objections that divestment would be too costly and onerous. In the past few months, several university governing boards and endowments have become the target of a coordinated national campaign, which most wealthy institutions have so far resisted.
In the paper, author Josh Humphreys, a fellow at the Tellus Institute, who is this? -sj lays out a three-step path of freezing and divesting investments in coal companies, investing in renewable energy companies and "strategic reallocation across all asset classes in order to manage climate risk and embrace sustainable opportunities in a holistic way." The paper does not present any new calculations on the potential costs or benefits of divestment, instead relying on previous works, though it does express a belief that colleges that divest will likely see higher returns than institutions that continue to invest in fossil fuels.
