University committee recommends fossil fuel divestment
Reporting about the SGA, not a record of it: The Johns Hopkins News-Letter published this and the SGA did not write it, file it, or approve it. The archive holds it because the article itself uses the phrases “sga” and “student government”.
Summary
- The Johns Hopkins News-Letter article reports on a committee’s recommendation that the University divest its endowment from fossil fuels.
- The paper reported that PIIAC recommended withdrawing cash accounts from Carbon Underground 200 companies immediately and selling direct holdings when contracts allow.
- The article says the committee recommended redirecting some equity and hedge fund investments toward more sustainable projects.
- According to the article, the endowment is worth more than $4 billion, with about 10 percent invested in energy companies, and the report said divestment would have a negligible financial impact.
- The reporter writes that the SGA had voted for a divestment resolution, while the Board of Trustees’ Committee on Investments will review the recommendation and vote on it.
- The article adds that Refuel President Atlas Elawad said the group would keep pressing the Board of Trustees for full divestment.