A Northeastern university has approved a recommendation to hold no direct investments in thermal coal production or in the production of oil from tar sands within its endowment.
The assumption that divestment can hurt the total return of an endowment is based on speculation, according to CJ Ryan, co-author of a recent research paper that found no discernible evidence that divestment of fossil fuels can negatively impact the total return of an endowment’s portfolio.
A Southern foundation will continue its place-based impact investing initiative in the future after completing the funding of its initial impact investment portfolio.