Sterling College has completed the divestment of its endowment from the fossil fuel industry. As of July 1, 2013, the college’s endowment is invested in a fossil fuel free portfolio at Trillium Asset Management in Boston, MA.
President Matthew Derr said, “Sterling College is an institution that lives by its core values of environmental stewardship and sustainability, and our investment strategy is now completely in line with those values. By fully divesting its endowment from fossil fuel extractors, we are reaffirming our mission to educate problem solvers and the next generation of environmental stewards.”
Derr continued, “Our Board of Trustees realizes that there is something inherently contradictory about relying on profits from fossil fuels to fund an institution like Sterling. I am gratified that we were able to complete this divestment, which was championed by my friend and colleague Rian Fried, before his recent and untimely passing.”
“The work of dealing with climate change will require human change—changes in our institutions, our habits, our thinking. Sterling, with its leadership on divestment, makes clear that it’s not just an educational leader, but a leader—period.” said Bill McKibben, co-founder of 350.org, the influential organization that is spurring the divestment movement.
“It is clear that climate change is the defining investment issue of our generation. We have been managing fossil fuel free investment portfolios for years, with long-term performance that is comparable to standard benchmarks.” said Matthew Patsky, Trillium’s CEO.
He continued, “We are excited to be working with Sterling College as they align their investments with their values.” •