Periodical
Princeton Endowment Backs Out of Oil and Gas Divestment Pledge.
| Τίτλος: | Princeton Endowment Backs Out of Oil and Gas Divestment Pledge. |
|---|---|
| Συγγραφείς: | Lorin, Janet (AUTHOR) |
| Πηγή: | Bloomberg.com. 6/1/2026, pN.PAG-N.PAG. 1p. |
| Θεματικοί όροι: | *Investment policy, *Universities & colleges, *Clean energy, *Endowments, *Financial performance, *Sustainable investing, Fossil fuels, Climate research |
| Εταιρία/Οντότητα: | Princeton University |
| Περίληψη: | The article focuses on Princeton University's decision to reverse its 2022 pledge to divest from publicly traded oil and gas companies, while maintaining its commitment to divest from thermal coal and tar sands firms. Vincent Tuohey, President of the Princeton University Investment Company (Princo), stated that the initial divestment did not clearly advance the endowment toward a net-zero portfolio and emphasized the continued role of major energy companies in the clean-energy transition. Princeton’s $36.4 billion endowment, which funds about 65% of the university’s operating revenue, has recently underperformed compared to peer institutions. The reversal aims to provide greater investment flexibility amid financial pressures, supporting critical university functions such as financial aid and climate research. [Extracted from the article] |
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| Βάση Δεδομένων: | Business Source Index |
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