Many universities across the country have been divesting their endowments for fossil fuel support. Now, Syracuse University has joined those ranks as the largest university to “go green” with their money.
The total hit to the fossil fuel industries will be $1.18 billion, though it is unclear how much of that money will be re-invested into clean energy initiatives.
“Syracuse has a long record of supporting responsible environmental stewardship and good corporate citizenship, and we want to continue that record,” said Syracuse Chancellor Kent Syverud. “Formalising our commitment to not invest directly in fossil fuels is one more way we do that.”
In a separate move, Guardian Media Group chose to divest nearly the exact same amount from fossil fuels a few hours earlier.
According to The Guardian:
Syracuse is the biggest university in the world to have committed to remove its endowment from direct investments in coal, oil and gas companies. It aims to make additional investments in clean energy technologies such as solar, biofuels and advanced recycling.