College Moves To Eliminate Fossil Fuels From Its Endowment Portfolio
The Northland College Board of Trustees has committed to eliminating its investment in fossil fuels as a part of the college`s endowment portfolio over the next five years.
Around $823,000 of the college’s $28 million endowment is invested in fossil fuel companies, according to Mike Fiorio, Northland trustee and financial advisor for Fiorio Wealth Advisors.
“The college’s endowment presently is invested in a portfolio of capital market, securities, stocks and bonds.” He said Wednesday, “The only thing that will change is what is presently allocated to fossil fuels - oil, natural gas, coal what have you - will now be re-allocated to the remaining portfolio.”...
Ken Notes: The publicity is good but the actual action does nothing to address the issues. I would keep the investments Transfer ownership to environmental students and send them to the annual meetings of these companies.
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- - Volume: 5 - WEEK: 30 Date: 7/24/2017 10:21:48 AM -