Environment & Energy Report

Cornell Won’t Put Money in New Private Fossil Fuel Investments

May 22, 2020, 9:49 PM

Cornell University’s endowment is putting a moratorium on new private investments focused on fossil fuels and plans to expand its holdings in alternative-energy technologies.

The school’s board of trustees voted Friday to make the change to the $6.9 billion endowment after a recommendation by its investment committee, according to a statement on the Ithaca, New York, school’s website.

“There’s a growing recognition that we’re transitioning away from fossil fuels globally, and the economic competitiveness of renewable energy sources is rising,” said Ken Miranda, the university’s chief investment officer. “We’re doing the right thing from an investment perspective, particularly...

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