The Princeton Sustainable Investment Initiative (PSII) has developed a proposal that would reduce the impact of the University endowment on climate change (story, page 13). You can read the proposal and sign the petition at www.princetonsustainableinvestment.org.
PSII is aligned with fossil-fuel divestment campaigns underway at universities, pension funds, and endowed civil-society organizations across the country. However, PSII’s approach is unique in calling for a representative committee to define a long-term plan for making Princeton’s endowment more sustainable. Divestment is just one possible tool among many. Notable faculty, including renowned climate scientist Michael Oppenheimer and ethicist Peter Singer, along with 1,000 students, support the effort.
The scientific foundation of climate change is undisputable. Investments benefiting our own community must also consider detrimental impacts we might have on others — particularly the poor, who will be disproportionately affected by climate pollution.
As University donors and stewards — and as leaders in business, policy, and education — it is our moral duty as alumni to demand investment in line with our values. Princeton’s $21 billion endowment is the largest per-student of any university. Though a drop in the global-equity market, the University’s investment leadership will be a watershed moment for institutions around the globe.
As you read this, Princeton students, faculty, and alumni are working feverishly to understand and mitigate the causes and consequences of climate change. Surprisingly, we have yet to act on one of the most achievable goals — updating our investment policies. I encourage you to support PSII’s effort by signing the petition, and sharing your opinions directly with the administration and the University community.