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Fossil Fuel Divestment a Financial Dud?
Maria Catanzarite
| March 28, 2013
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Cornell students hoping for divestment within the university might be in for a big red letdown.

 

Chief Investment Officer A.J. Edwards said removing investments from the fossil fuel industry could slash the school's endowment because the energy sector, which Cornell invests in, yields some of the highest expected rates of return. Unfortunately, alternative fuel companies have yet to meet return and risk benchmarks established by the University. Kyoto Now! and student assembly member Becca Meccies believes that divestment will produce greater long-term returns. The SA passed a resolution in February that called upon Cornell to divest of all fossil fuels by 2020 and support local and renewable energy corporations by 2030.  $5 billion currently are funnelled into the fossil fuel industry, which Edwards says provides the necessary endowment funds to support Cornell's mission of "teaching, discovery, and engagement."

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