At Carleton’s May 21, 2021, convocation, Dr. Ayana Elizabeth Johnson made an explicit appeal for Carleton to divest its endowment from fossil fuels.
The college was celebrating the significant achievement of shutting off its steam heating plant and switching to its new geothermal system. Many congrats to everyone who has worked so hard to make that happen!
The moderator of the talk asked Dr. Johnson what Carleton’s next steps might be toward increasing sustainability. You can listen to her answer on Carleton’s convocation website, linked above, starting at 28:43. Or read the transcript of that exchange below:
By Maddie Halloran, Rebecca Hahn, Mindy Bell and Patrick Dunlevy on May 16, 2021 in The Carletonian
When the fossil fuel divestment movement began at Carleton almost a decade ago, few colleges or universities had committed to moving their endowments out of fossil fuels. By 2014, only two U.S. liberal arts colleges had made divestment pledges: College of the Atlantic and Pitzer College.
But today, 10 U.S. liberal arts colleges have made divestment commitments, and not just smaller, environmental schools. Middlebury, Smith, and Wesleyan all committed to divestment within the last few years, and most recently both Amherst and Wellesley did the same.
Besides liberal arts colleges, Rutgers University, Columbia University, the University of Southern California, and Cambridge University have all made divestment commitments in the last few months. Midwest powerhouse University of Michigan committed to divestment this March.
This movement is growing, and Carleton is falling behind.
From a financial perspective, the writing is on the wall. In January of last year, Jim Cramer, the host of CNBC’s Mad Money and the co-anchor of Squawk on the Street, announced: