Salem Sate University President John Keenan recently announced the university had completely divested its fossil fuel investments.
“I am pleased to announce that the university’s investment advisors have recently sold the university’s prior holdings in Carbon 200 (fossil fuel) companies and have added investments in solar and renewable energies,” wrote Keenan in a May email to the campus community.
Divest Salem State, an environmental advocacy group of student, alumni and faculty, campaigned for full divestment over the past five years, according to Geography Department Associate Professor Noel Healy. Details of the campaign can be found here: https://divestssu.squarespace.com/.
Healy said the organization “delighted” Salem State divested holding in Carbon 200 companies.
“By divesting from fossil fuels, Salem State [trustees] are doing their part to undermine the social license of the fossil fuel industry,” said Healy. “We must shift attention to the resistance by fossil fuel companies as the most significant obstacle to limiting climate chaos.”
The news comes after the president, Salem State University Board of Trustees and a group of environmental advocates worked to revise an investment policy that would “safeguard the environment and promote sustainability.” Trustee adopted that policy in October 2016 and formerly changed in 2017.
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