The Vermont Cynic reports:
To divest or not to divest from fossil fuels: that was the question Middlebury College leaders spent the past year deliberating. At the end of summer, the college made a decision.
President Ronald Liebowitz and the board of trustees chose not to support divestment from fossil fuels, according to the president’s official statement on divesting released Aug. 28.
Of course Mr. McK will be divesting himself of his position at Middlebury immediately in protest…………………..don’t hold your breath……
Stock movements have nothing to do with business funding in the first place. They’re bought from or sold to other investors. The business doesn’t see a dime after the initial offering. Even if the greens could get investors to divest it would be a meaningless symbolic attack. It wouldn’t surprise me if the whole thing wasn’t a scam pushed by people hoping to pickup those stocks on the dip. I know I’ll be all over them if a significant amount of divestment occurs. I did pretty well when they tried the same thing with gun company stocks.
When you divest from fossil fuel companies there are simply no businesses in the world left to invest in. Even the extreme ecotard businesses that claim to be ecofriendly are hugely dependent on fossil fuel and it’s derivatives to sell their cheap lousily made products and green collar services.
Even organizations with supposed extreme green credentials are fossil fueled at heart, think WWF and Greenpiss.