Northland College Divests From Fossil Fuels

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.”

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.