, ,

Northland College Divests From Fossil Fuels

College Moves To Eliminate Fossil Fuels From Its Endowment Portfolio

By
Northland College

The Northland College Board of Trustees has committed to eliminating its investment in fossil fuels as a part of the college’s endowment portfolio over the next five years.

Around $823,000 of the college’s $28 million endowment is invested in fossil fuel companies, according to Mike Fiorio, Northland trustee and financial advisor for Fiorio Wealth Advisors.

“The college’s endowment presently is invested in a portfolio of capital market, securities, stocks and bonds.” He said Wednesday, “The only thing that will change is what is presently allocated to fossil fuels – oil, natural gas, coal what have you – will now be re-allocated to the remaining portfolio.”

Stay informed on the latest news

Sign up for WPR’s email newsletter.

This field is for validation purposes and should be left unchanged.

Fiorio said the move is another example of the college’s commitment to environmental sustainability.

“It’s a way for the college to walk the talk,” he said. “To operate in a manner consistent with a school that espouses its mission, which is to be the pre-eminent liberal arts environmental college.”

Fiorio also said students and staff played a key role in trustees’ decision last week.

“They did a lot of research, put lots of effort and passion into the process. If it weren’t for them, I hesitate to say this, but we’d still be talking about this a year from now,” he said.

Northland joins colleges like Green Mountain, College of the Atlantic, and Prescott College in its decision to divest from fossil fuels.

Hats off to members like you! WPR Bucket Hat $20/month. Give Now.