Students first launched an NYU divestment campaign in 2004, but for years the board insisted that divestment was not the way forward.
on social media as it shared the news. "Congratulations to every student organizer who made this happen."Students first launched an NYU divestment campaign in 2004. However, for years the board insisted that divestment was not the way forward.
Ten years after the campaign began, it had around 4% of its endowment, or $139 million, invested in fossil fuels, as"Back when I was at NYU… we were not exactly met with open arms," Sophie Lasoff, who co-founded one campaign in 2012, toldThe University Senate did pass a resolution in 2015 urging the endowment not to invest any more in fossil fuels going forward, but the board rejected the idea. In a very different letter in 2016, Berkley and university President Andrew Hamilton"This decision has been a long time coming and is thanks to a decade of tireless organizing on campus." Fast forward to 2023, and Berkley wrote that "New York University commits to avoid any direct investments in any company whose primary business is the exploration or extraction of fossil fuels, including all forms of coal, oil, and natural gas, and not to renew or seek out any dedicated private funds whose primary aim is to invest in the exploration or extraction of fossil fuels," asBerkley said the endowment did not currently own any fossil fuel securities. In the future, the school will not invest any new funds in the largest 200 oil, gas, and coal companies,What changed? In part, it's the fact that fossil fuel companies didn't, Sunrise NYU co-founder Dylan Wahbe, who has since graduated, toldIn the 2016 letter, Berkley and Hamilton stated that investing in renewable energy was not "mutually exclusive" from investing in fossil fuels and that "many of the fossil fuel companies listed on the 'Fossil Fuel 200' are major investors in alternative energy research and ventures."
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