Find the Courage to Divest (Again)

I’m dismayed to read that Princo and the University have reversed their position on fossil fuel divestment (July/August issue). Ironically, the article was sandwiched between a piece about two distinguished alumni (Craig Robinson ’83 and Wendy Kopp ’89) advising new grads to follow — and even to sacrifice for — what they know is right, and President Eisgruber’s call for courage even if it makes one unpopular. Which makes me wonder: Does the Princo board read PAW?

There was a time when investing in energy companies could reasonably consider “financial strain,” “rates of return,” “balancing worthy ideals with economic reality,” and other can-kicking. Not anymore. As the article notes, the 2021 decision to divest was a moral one. To reverse that with a bottom-line financial calculation entirely misses the point.

In 2026, climate change caused by burning fossil fuels poses primarily moral and ethical issues. To miss those for the sake of ROI is akin to capitalizing on the slave trade, or Nazi industry, or the current dismantling of American democracy.

Princo, follow President Eisgruber’s advice: Show the courage to change your mind (again) and get back on the right path.

A postscript: Of course I read the PAW article in light of ProPublica’s report that, a generation ago, persuasive climate change research at Princeton might have been influenced by fossil fuel donors. I look forward to the professors’ reply, which the Prince says they’re preparing. I do not doubt their personal integrity, but we know how “influence” works and so did BP. The idea that Princo is about to fall for that again is baffling.