Stanford’s trustees say the school will no longer invest in companies that mine coal, joining about a dozen other colleges that have taken the step. The decision cited alternate energy sources that emit less greenhouse gases.
Stanford will liquidate any current holdings in coal-producing companies, the school says. Of the schools that have divested, it’s by far the largest.
“Stanford wouldn’t say how much it currently invests in coal companies,” NPR’s Elizabeth Shogren reports. “Its total endowment was just shy of $19 billion last year.”
The university’s decision to divest from coal reflects a call from students who “want their university to show leadership in tackling climate change,” Elizabeth reports for our Newscast unit.
A student group called Fossil Free Stanford petitioned for the change last year, bringing a review by the university’s Advisory Panel on Investment Responsibility and Licensing, which includes students and faculty. A student referendum on the issue last month also supported the change.