The University Board of Trustees announced that Princeton will divest from some sectors of the FOSSIL-FUEL INDUSTRY. Specifically, the University will divest from the “thermal coal and tar sands segments of the fossil-fuel industry” and from companies that have “engaged in climate disinformation campaigns,” according to a May 27 statement. The University also announced it will set a target date by which to achieve net-zero greenhouse-gas emissions across its endowment portfolio.
The Board of Trustees came to its decision after reviewing recommendations by the Resources Committee of the Council of the Princeton University Community (CPUC), submitted in May. As part of the administrative process, the University will determine what expert input is needed to “establish, implement, and sustain actionable criteria for dissociation.” The criteria to dissociate will be based on current and prospective actions of companies.
A committee of experts will be established to determine how to “define, measure, and benchmark the greenhouse-gas impact” of the endowment. The University plans to attain net-zero greenhouse-gas emissions by 2046, according to the Sustainability Action Plan.
Divest Princeton, a group of students and alumni who proposed fossil-fuel divestment to the CPUC, said the trustees had moved “in the right direction” and pledged to push for clear timelines.